Economic Education

Friday, November 16th, 2018

If our entrepreneurial innovators had to get permission prior to introducing their innovations, we would still be walking around or perhaps at best riding on the backs of beasts.

Thursday, November 15th, 2018

Modern democracy suffers from the contradiction that while most citizens mistrust the politicians and the state, and want fewer taxes and less state control, each voter is eager to use their vote in such a way as to get the largest piece of the cake.

Wednesday, November 14th, 2018

Remember: numerical measures are by their very nature retrospective. Epistemologically, information derived exclusively from data analysis will by be both backward-looking and prone to the shortcomings associated with the snapshot fallacy. Which is to say: they are essentially without context.

Tuesday, November 13th, 2018

Julian Simon’s most notable contribution is his demonstration that the human mind is, as he described it, “the ultimate resource.” The human mind is the ultimate resource because it, and only it, creates all of the other economically valuable inputs that we call “resources.”

Monday, November 12th, 2018

Despite the warnings made by many economists who urge officials to rethink putting additional restrictions on home-sharing services, residents from other European countries have also been pressuring officials to “do something” about all the prosperity the services have helped to provide.

Saturday, November 10th, 2018

The Incredibles must discover the fortitude to push through and say no to those who want to bury talent in a thicket of mediocracy.

Wednesday, November 7th, 2018

We are probably being overly confident in claiming that the great merit of crypto is disintermediation of all things. That probably won’t happen.

Wednesday, November 7th, 2018

The financial crisis of 2008-9 was caused by government intervention, mainly in mortgage finance and the housing sector.

Monday, November 5th, 2018

Conventions exist when people all agree on a rule of behavior, even if no one ever said the rule out loud or wrote it down.

Monday, November 5th, 2018

Arguments should be judged, ultimately, by their contents rather than by the identities of their flesh and blood deliverers.

Wednesday, October 31st, 2018

This is a fight between two political parties and groups desiring to have control of the same governmental machinery for the purpose of planning and directing people’s economic and social affairs in one way rather than another.

Wednesday, October 31st, 2018

Contrary to popular belief, police have never documented real cases of people randomly distributing poisoned candy to children on Halloween.

Tuesday, October 30th, 2018

The say that you have in the market is always real and effective.

Tuesday, October 30th, 2018

If you were to take Teen Vogue’s word for it, you would think that capitalism is “exploitative and leads to a brutally divided society that tramples the working classes in favor of fattening the rich’s wallets.”

Tuesday, October 30th, 2018

The argument that politics is controlled by some of the wealthy and run for their benefit is largely correct, but the conclusion should be that we should restrict their opportunity to do this by limiting politics and government, not that we should expand them.

Sunday, October 28th, 2018

When people think about Halloween, they think about candy, children in costumes, and scary decorations. I think about all these things too, obviously, but I find myself thinking also about sugar subsidies.

Monday, October 22nd, 2018

George Gilder's recent book might be his biggest seller yet, and this is after a career of rocking both the intellectual and political worlds with visionary works that have anticipated and then defined the technological and policy trends of the times. His book is Life After Google, and its focus is on the rise of decentralization in what he called the Cyrptocon. He explains why the tech giant's business model may not work in the future and how the cryptocon will provide a replacement. 

Wednesday, October 17th, 2018

It is quite true that a standard bilateral fee-for-service arrangement would fail to provide enough lighthouses — at first. But that failure would have consequences.

Tuesday, October 16th, 2018

Madison would be horrified to see the extent to which his federalist vision has failed to endure. Fiscal power has become increasingly centralized, with the federal government taking over more and more state functions.

Monday, October 15th, 2018

Producers, on average, capture a 2.2 percent of the total benefits of their successful introduction into markets of technological advances. A whopping 97.8 percent of those benefits are enjoyed by people each of whom as a consumer did nothing other than exercise his right to spend his money on those options that he judges best for himself.