Topic: Economic Education

Capitalism, Economic Education, Regulation

In Defense of Allowing Collusion

– July 20, 2023

“We understand that if markets are to serve consumers as well as possible, entrepreneurs and investors must enjoy wide freedom to experiment with different organizational and contractual arrangements.” ~ Donald J. Boudreaux

Economic Education, Inflation, Monetary Policy

Economics is Not Easy

– July 20, 2023

” Since everyone looks to prices for accurate information about relative scarcity, having prices that are being inflated artificially is misleading, and results in multiple different economic actors all trying to expand at once.” ~ Michael Munger

Books, Economic Education, Philosophy

I Owe my Economics to Robert Heinlein

– July 16, 2023

“I heard about this social science called economics, where apparently, they study people’s decisions using graphs and charts. I jumped at the chance to learn more. I really wanted to be Potiphar Breen when I grew up.” ~ Thaddeus Meadows

Classical Liberalism, Economic Education, Entrepreneurship

Do You Have a Right To a Yo-Yo?

– July 11, 2023

“In liberal society individuals aren’t tools for maximizing the performance of the economy. So the conflict should be resolved in favor of allowing collusion even though this resolution diminishes the marvelousness of markets. Individual rights trump economic efficiency.” ~ Donald J. Boudreaux

Art and Culture, Economic Education, Technology

New Apps Add Rationing to Reservations

– July 8, 2023

“With no penalty, why would people not just make a reservation for a night they may want to go out to eat? This is where price rationing comes in.” ~ Samuel D. Peterson

Art and Culture, Books, Economic Education, Philosophy

Adam Smith Can Save Your Golf Game

– July 7, 2023

“Golf is a great way to learn to do things for yourself. Even when you’re playing with other people, you’re playing only against yourself, keeping your own score and holding yourself accountable to a set of rules that it is your own responsibility to internalize.” ~ Michael Munger

Art and Culture, Economic Education, Property Rights

Vacation Ownership: The Wolf of the Vacation Industry

– July 2, 2023

“Timeshares, vacation clubs, all-inclusive clubs, fractional ownerships are all part of the vacation ownership industry whose goal is to convince people to pay increasing monthly fees for the rest of their lives in exchange for dream vacations in exclusive luxury resorts.” ~ Mary Dawood Catlin

Economic Education, International, Policy, War and Peace

Pentagon Corrects “Accounting Error.” As Always, the First Casualty of War is the Truth

– June 25, 2023

“Why has the Pentagon flipped? Obviously, the Pentagon initially wanted to exaggerate the amount of aid being given to Ukraine. ” ~ Clifford Thies

Capitalism, Economic Education, Policy

I See Dead Policies

– June 24, 2023

“Firms can do anything they want. Just as long as they don’t charge a price that’s more than consumers think they should have to pay, the same as competitors, or less than other firms can match.” ~ Michael Munger

Capitalism, Economic Education, Free Markets

To Consumers, All Costs are Transaction Costs

– June 13, 2023

“Remember, transaction costs are triangulation, transfer, and trust.” ~ Michael Munger

Capitalism, Economic Education

Do Your Civic Duty and Fill Out the Customer Survey

– June 13, 2023

“Should you spend your time voting, preparing to vote, researching the candidates, and so on? Or should you take five or ten minutes to fill out the customer satisfaction survey that you were emailed after your last flight or hotel stay?” ~ Art Carden

Economic Education, Policy, Property Rights

Politics as Self-Interest: Housing Is the Exception That Proves the Rule

– June 9, 2023

“The costs of NIMBYism hit renters, landowners, employers, and future generations hard. But of those groups, only landowners have the direct incentive to show up to support projects being built on their own land. ” ~ Jason Sorens