Bourbon for Breakfast After 10 Years

– November 19, 2019

It was last year when I was invited to address a dinner party. I arrived to find a copy of this book at every place setting. I was momentarily mortified: this is surely not my best material. What even is in this book? This attitude does reflect my outl …

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Why We are Getting More for Less

– November 19, 2019

Thankfully, capitalism is not wrecking the planet. At least that’s the message in a brand-new book with the stunning title More From Less by Andrew McAfee

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Business Ethics and Morality of the Marketplace

– November 19, 2019

Who do people consider to be less ethical or honest than either telemarketers or used car salesman? If you said Washington politicians, you’d be right on the button. According to Gallup News Services, members of Congress are right at the bottom of perc …

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Five Myths Propagated by Local-Food Activists

– November 14, 2019

By promoting the increased production of local food that does not offer a compelling quality/price ratio while shunning modern production and processing technologies, activists ensured that our food supply would become more expensive, environmentally damaging, and hazardous to our health .

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The Struggle to Get Education Away from the State

– November 13, 2019

Education reform is a perennial hot-button issue, with teachers’ unions like the American Federation of Teachers and the National Education Association spending vast sums to elect their preferred candidates and lobby them for reforms they find favorabl …

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The Wonderful Surprises of Comparative Advantage

– November 12, 2019

Human society is permeated with comparative advantage. When each person specializes in performing that task, or small set of tasks, for which he or she has a comparative advantage — and then exchanges the fruits of this labor for goods and services pro …

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Economics Is the Great Reality Check

– November 10, 2019

Economics is a ubiquitous and conspicuous set of limits that cause everyone to buck up, cease our simpleton solipsism, face what’s true, become disciplined, get adaptable outside our embedded identity, live within our means, adopt solid values, and lead a good life.

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Krugman’s Zombie Idea: We Owe It to Ourselves

– November 6, 2019

Paul Krugman claims that the national debt doesn’t matter because “we owe it to ourselves.” This “zombie idea” is dead wrong.

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What Is Comparative Advantage?

– November 4, 2019

An economic entity’s technical ability to produce some particular product is, by itself, irrelevant for determining if that entity should produce that product itself or, instead, acquire that product by first producing something else and then trading that something else for the product.

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How Kids Create Wealth By Trading Halloween Candy

– October 30, 2019

The post-Halloween candy market is a commercial society of traders buying low and selling high, and it’s a microcosm of what happens when market exchange works well.

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Wealth Inequality: It’s Complicated

– October 30, 2019

In the debates over wealth inequality that have followed the publication of The Triumph of Injustice (authored by Emmanuel Saez and Gabriel Zucman), there have been intense discussions of the methodological choices made in the book. There have been few …

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Planners Gonna Plan, but They Won’t Succeed

– October 29, 2019

To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions order, and adaptation to the unknown, can be achieved more effectively by decentralizing decisions.

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