NFL Free Agency and the Market Process
Any serious analysis of the NFL is incomplete without a sound understanding of basic economics.
Prices
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Higher Costs Don’t Mean Higher Prices
Driving up costs for cocaine dealers has not led to a similar rise in street price. This is because prices are not based on the cost of production.
Consumers — not Uber’s CEO — Are Responsible for Uber Drivers’ Falling Income
If Uber drivers think fares are too low, they should complain to consumers, and not to Uber's management.
How Governments Destroy Consumer Sovereignty
The entrepreneur's job is to shape his whole enterprise around consumer wants. Unfortunately, governments often get in the way.
Will “Big Data” Make a Centrally Planned Economy Possible?
Statistical data about past purchases is not the same thing as market prices. And prices are what make a functioning economy possible.
In a Free Market, No Profit is “Excessive”
Profit is a product of the mind, of success in anticipating the future state of the market. It is a spiritual and intellectual phenomenon.
Japanese Consumers Not Afraid of Deflation
It turns out that the Japanese people do not have the Apoplithorismosphobia that their government officials have.
The Fed vs. Savings
The Federal Reserve and in particular fiat money ruins the incentive to save for a better future.
Hurricane: Florida AG to Prosecute “Price Gougers”
Floridians could end up facing unnecessary hardship, because its state government does not understand basic economics.
Spreadsheets Can Not Replace the Market Process
The problem with the Excel spreadsheet approach is not the intentions of policymakers, but that such tools cannot possibly replace the market process.
