Topic: Economic Education

All Markets are Sharing Economies

– December 3, 2018

Market prices weave consumers together with each other, and with producers, into a humane and peaceful community of sharers.

Economic Education

Humility Is Extremely Scarce in Politics

– November 30, 2018

The truth is that when you live, as I do, in Arlington ,Virginia , and work near Washington, D.C., you know all too well that humility is a very scarce commodity.

Economic Education

The Theory of Perfect Competition Is Wholly Misleading

– November 27, 2018

The theory of perfect competition should be utterly rejected, both as a theory of competition (which it is not) and as offering an appropriate standard against which to judge real-world markets (which it does not).

Economic Education

The Stock Exchange Demystified

– November 26, 2018

There is an indissoluble link between capitalism and the stock market. Over the long run, stocks will rise when capitalism flourishes and fall when the entrepreneurial spirit wilts. Therefore, a crash is not to blame on the stock market but on the erosion of capitalism that has preceded the collapse.

Economic Education

I’m Thankful for Division of Labor

– November 24, 2018

The division of labor can be cultivated in a setting with no history of prosperity, and highly productive specialization can be fostered even in people who have no special knowledge or abilities at the outset.

Economic Education

A Woman’s Right to a Free Market

– November 20, 2018

Women have come a long way. Isn’t it ironic, then, that women’s freedoms are today being constrained by misguided government policies enacted in the name of increasing that freedom? In other words, there are still battles yet to be won and disasters yet to prevent.

Central Banking, Economic Education, Monetary Policy

Free Societies Don’t Need the Fed’s Managers

– November 18, 2018

The public discourse concerning the state of the financial system that once took place in trade associations and committees of concerned citizens has disappeared, replaced by a cold and sterile managerialism practiced by an insular and self-perpetuating macroeconomic elite.

Art and Culture, Economic Education

Bohemian Rhapsody Shows That Artists Should Care About Audiences

– November 16, 2018

The wonderful movie based on the life of Freddie Mercury and his band makes a great case that commerce can be and is the friend to art. It has always been so, but we are only now fully coming to terms with what this implies for the artistic endeavor generally.

Economic Education

Enterprise Should Be Permissionless

– November 16, 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.

Economic Education

Economic Systems and the Fate of Civilization

– November 15, 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.

Economic Education

Metrics Will Not Save the World

– November 14, 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.

Economic Education

There Are No Natural Resources

– November 13, 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.”