Economic Theory

Starbucks Too Has Surge Pricing

– November 4, 2019

Even though you have money and you are ready, even eager, to pay, you have to wait your turn. That’s a form of surge pricing.

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Economic Theory, Free Enterprise

Judy Garland: The Brilliance and Tragedy of Fame

– October 28, 2019

This film reveals both Judy Garland’s genius and her catastrophic life to the whole world in ways that make us frustrated but ultimately grateful for her personal sacrifice for the sake of art, culture, and the well-being of humanity. As her signature song says, it’s the journey that matters more than the destination.

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Economic Education, Economic Theory

How Salesmen Improve Our World

– October 27, 2019

The salesman is the empathetic agent of change that helps us overcome our psychological reticence to part with our property in order to gain something that will genuinely improve our subjective well-being.

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Economic Theory

The Economics of Hitchhiking

– October 21, 2019

If you pay attention, you’ll notice a lot of things that “economists in their studies” may not be able to imagine. But they exist. Because people are really good at finding ways to cooperate.

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Economic Theory

In Defense of Share Buybacks

– September 25, 2019

“The confused objections to share buybacks illustrate the failure to look past the immediate effect and to understand what financial markets do.” ~ Joakim Book

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Economic Theory

What Seinfeld Can Teach about Industrial Policy

– September 23, 2019

That Seinfeld was seen by top NBC executives as less-than-promising, only for it to become a multi-billion dollar blockbuster, is a reminder that when it comes to the future of commerce, predictions aren’t worth the paper they’re printed on.

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Economic Theory

“Price Gouging” in Desperate Situations

– September 23, 2019

It is precisely when people are at genuine risk of actually dying for want of the likes of food, water, and shelter that the case against prohibitions on “price gouging” is strongest.

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Economic Theory

It’s a Bird! It’s a Plane! It’s … the Speculator!

– September 19, 2019

You have heard, no doubt, that we are going to run out of oil. Is there any hope? Can we escape the calamity? Whatever might we hapless citizens do? This sounds like a job for … the Speculator!

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Economic Theory
markettiming

If You Are Early, You Are Wrong

– September 6, 2019

Before a financial meltdown, there is no way to tell with certainty that such a financial meltdown is imminent, even though a lot of pundits and cranks try.

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Economic Theory, Socialism
complexmachine

America Needs You, Don Lavoie

– July 26, 2019

In a world where it sometimes feels like free market advocates are tolerating more intervention in our economy than we would have ever predicted, Lavoie calls upon us never to forget the abiding importance of remaining true to one’s belief in the power and humanity of markets.

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