It is easy to think of supply and demand curves as being key to economic analysis. In reality, they can't tell us much, and emphasizing them actually stands in the way of better understanding economic processes.
While Bitcoin's S2F Model has come under some criticism, the best analysis of its flaws comes from perspective of Austrian Economics.
Mainstream economists say everyone should pay the same price for the same good. But that doesn't totally make sense.
The absence of market discipline in medicine cannot last. Governments and the medical cartel have successfully used fear to maintain control. Fear has kept the masses from rising up. Until now.
While economists and journalists are fond of saying inflation is "X" percent, in reality, the price indexes don't measure inflation accurately. Instead, they are statistical constructs created to benefit the government.
While government officials and politicians denounce high drug prices, they have created monopoly privileges for drug firms, thus ensuring higher-than-competitive prices for pharmaceuticals.
While government officials and politicians denounce high drug prices, they have created monopoly privileges for drug firms, thus ensuring higher-than-competitive prices for pharmaceuticals.
People often react to sudden price changes by demanding that government "do something" to bring prices down. It is important to understand the mentality behind such beliefs.
Modern portfolio theory, while popular with many economists, runs into serious problems when examined through the lens of Austrian economics
"Under socialism production is entirely directed by the orders of the central board. The whole nation is an 'industrial army' and each citizen is bound to obey his superior's orders."
