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The Economics of Price and Quantity Signals
The first time I thought about the relationship between quantity and price, I was a teenager working at the same job that taught me about transaction costs in labor markets. Evidently, there was much for me to learn at this rather dull junior sales job for a shipping company. Being paid according to a fairly […]
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Who Was Claude-Frédéric Bastiat? Video with David Hart (Part 2)
Bastiat’s writings showed the very great depth of his economic thinking and made advances which heralded the Austrian school of economics which emerged later in the century. Bastiat to the end was an indefatigable foe of political privilege, unaccountable monarchical power, the newly emergent socialist movement, and above all, the vested interests who benefited from […]
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Unaccountable Accounting in the Pentagon
Even somewhat less than eagle-eyed observers will, if only by virtue of the size of the number, take note: the 2020 budget for the Pentagon is roughly three-quarters of one trillion dollars ($738 billion), and yet it has reported $35 trillion in accounting adjustments in 2019, a near $5 trillion increase over the previous year. […]
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