“It doesn’t have to make sense to the outside observer, because ‘the system’ is not something a single mind designed but the unintended consequence of innumerable individual choices in response to (sometimes badly distorted) incentives.” ~ Art Carden
READ MORE“In 1970, when Guy Drake wrote ‘Welfare Cadillac,’ one could argue that we hadn’t yet given welfare a chance. Today, there is no such excuse.” ~ Jon Miltimore
READ MORE“The song works because it is a refreshing depiction of the harms a runaway federal government has inflicted on working Americans, sung by a working American.” ~ David Waugh
READ MORE“Just as biological parasites try to hide in the recesses of host bodies, economic parasites try to hide in the recesses of the body politic. Some, like leeches, cling tenaciously when exposed to the light. Others, like hookworms, feed deep in the belly of the economic beast.” ~ Robert E. Wright
READ MORE“Maybe Messi isn’t wasting his time shopping at Publix. After all, they’re writing some of the checks to cover his eight-figure annual salary, and maybe conspicuously shopping there is part of the bargain.” ~ Art Carden
READ MORE“Individuals who voluntarily leave a gratuity at the end of a meal indicate that they appreciated the service and are happy to contribute more to the server than is legally required.” ~ Anthony Gill
READ MOREKate Wand invites Phil Magness to discuss the origins of critical theory, which is a neo-Marxist school of thought born in the Frankfurt School in 1923.
READ MORE“Collectivist ideologies are ultimately nothing but fantastical escapes from reality, filled with promises of freedom from scarcity and alienation in one’s work.” ~ Jedediah Pida-Reese
READ MORE“Whereas most price discrimination is instigated from the side of the seller, tipping represents a cultural mechanism that obligates consumers to reveal their own preferences and share their consumer surplus with the supplier.” ~ Anthony Gill
READ MORE“It’s the entrepreneur’s dilemma—a kind of chicken-and-egg quandary that complicates the basic law of supply and demand. Consumers are in the driver seat, to be sure, helping steer resources to their most valued alternative uses.” ~ Paul Schwennesen
READ MORE” People can only live in one house at a time, but the enjoyment of living in that house depends in no small part on the other houses in the neighborhood, if they care about the aesthetic vibe.” ~ Janna Lu
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