Prices should rise during emergencies. That’s because prices aren’t just money; they are signals, information. They tell suppliers what their customers want most.
MARKETS
Judy Shelton: Golden Nominee for a Tarnished Fed
Judy Shelton is a high-class, high-quality economist, who should join the Fed not so much to burnish its image but to keep it at least a little bit honest and real. The Fed today doesn’t really deserve Shelton, but Shelton deserves a top place at the Fed.
Government Price Control of Pharmaceutical Drugs
The government should have no business in controlling drug prices or regulating drug development.
The Coronavirus and Anti-Gouging Laws
Instead of finding (temporarily expensive) masks available for sale, we are confronted by “No masks available” signs everywhere we look.
“Shareholder Capitalism” vs. “Inclusive Capitalism”: A False Alternative
Freeman depicts capitalism as a system where businesses focus on maximizing short-term stock price.
Is Capitalism Dead?
On CEOs celebrating the “death” of capitalism.
Professor Israel Kirzner on Entrepreneurship and The Market Process
These insights into the nature of the market process are part of Israel Kirzner’s lasting legacy to our understanding of the workings of the economic order.
Say’s Law versus Keynesian Economics
Say’s Law and Saysian economics go hand in hand with a political-economic-philosophical appreciation for capitalism – for rationality, the pursuit of self-interest, entrepreneurialism, profit-making, private property rights, the rule of law, and constitutionalism.
Video: Thomas Sowell on Wealth, Poverty, and Politics
Thomas Sowell discusses poverty around the world and in the United States. Poverty in America, he says, compared to the rest of the world, is not severe. Many poor people in poverty in the United States have one or two cars,...
Economics Reality: Good and Bad Economics
Economics is fun and simple. It’s made complicated by some economics professors. Let’s apply some simple tools of economics to reveal outright myths, lies and tricks.
“Sustainable” Finance
Sustainable finance as imposed through government regulation harms human flourishing by violating the investors’ freedom to choose.
Capitalism, Market Competition and Netflix
Blockbuster’s demise began when it charged a man named Reed Hastings $40 in late fees. That annoyed him so much, he started a subscription-based, mail-order movie rental company he called Netflix.
Abolish Billionaires!
“I don’t think that billionaires should exist,” Sanders explained. The crusade’s rallying cry: “Abolish billionaires.” To that end, Warren and Sanders have each proposed special taxes on the ultra-rich.
Joseph A. Schumpeter: Entrepreneurship, Creative Destruction and Fatalism Over Capitalism
Joseph A. Schumpeter is identified with two related ideas, the notion of the innovative entrepreneur and the imagery of the competitive market as a process of creative destruction.
Bitcoin: Best-Performing Asset of the Decade?
Bitcoin’s returns over the last decade have dominated every other asset we can compare it with, but that still doesn’t tell us what we need to know about the future viability of this extraordinary development in human monetary affairs.
Video: Money, Banking & Public Finance
An introduction to political economy focusing on money, banking and funding of government.
Money and Liquidity
Perhaps the money of the future isn’t some sophisticated crypto token, but a private promise to consume a widely used service.
The Wonders of a Self-Regulating Free Market
The fact is, there is far more in the world that successfully manages and “regulates” itself without the controlling hand of the government than many of us pause to reflect on or understand.
The Case for Global Capitalism
The human condition has been and can continue to be radically and amazingly improved, if only personal freedom and free markets are allowed to work their wonders on our global community of free trade and networks of voluntary association.
Paul Volcker’s Anti-Capitalist Legacy Against Free-Market Banking
By helping to cut the dollar’s tether to gold, Volcker helped Washington’s politicians engage in perpetual fiscal profligacy.
In Defense of The Austrian School of Economics
If you approach Austrians economics from a Marxian-style dialectic, as Janek Wasserman does, then you will miss the entire point of the school of thought and its contribution to the science of economics.
Morality of Free Markets
If millennials and others want to wage war against government favors and crony capitalism, I’m with them 100%. But I’m all too afraid that anti-capitalists just want their share of the government loot.
Business Ethics and The Morality of the Free Market
The ethics of private enterprise and the morality of the market require both a preaching and a practicing of a respect for others’ individual rights to their property and to the rule of voluntary agreement in all transactions, even when market outcomes are not always favorable to oneself.
Not as Good as NAFTA: United States-Mexico-Canada Trade Agreement (USMCA)
The best aspect is that it keeps intact 90 percent of the old NAFTA; the worst is that what is mostly new and unique in USMCA is protectionist and economically destructive.
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