Tag Archive for economics

What Price Controls Say About Us …

Dr. Art Carden explains. The entire column is worth a read. Here’s a snippet. Price Controls Make A Statement About Society – Forbes: They say that our society is elitist. Price controls inflict positive harm on precisely the people we…

Today’s Quote: Hayek on Private Property

“The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those who do not.” – Friedrich August von Hayek (1899-1992), Nobel Laureate of Economic Sciences 1974

Demand Curves and The Success of Capitalism

Two good ones. As milton Friedman has said, no other force has lifted more people out of grinding poverty than free markets and capitalism. The world’s next great leap forward: Towards the end of poverty – The Economist: Nearly 1…

Econ 101: Medicaid Edition

When you make the price (ceteris paribus) of a normal good lower (approaching or actually at zero), you should not be at all surprised when more people partake. [ Don't miss what  Megan McArdle has to say on this. ] This isn’t…

Boudreaux on Complexity

Wonderful column, worth the read. If only those with grand designs would understand their hubris. And the classic quote via The Unbroken Window: The curious task of economics is to demonstrate to men how little they really know about what…

Three Good Paragraphs …

This is good. More Income Redistribution Will End the Great Recession? : The Freeman : Foundation for Economic Education: There’s a more fundamental problem with the Progressive interpretation of static income statistics: It demonstrates a complete lack of understanding of…

Coke Meets Pencils

Coke meets I, Pencil. A short and wonderful read. What Coke Contains — Editors’ Picks — Medium: The number of individuals who know how to make a can of Coke is zero. The number of individual nations that could produce…