Capitalism and Asymmetric Information
It's capitalism and the competitive market that generate solutions to the knowledge problems of the society, including “informational asymmetry.”
Value and Exchange
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Cantillon for Laymen
Richard Cantillon, "the father of modern economics," understood that to break out of the mercantilist morass we must focus on human action.
Can We Blame the New iPhone’s Mediocrity on Inflation?
To keep up with inflation, Apple needed to raise prices. But they also needed to add features to the iPhone to justify the price increase.
There’s Nothing Moral about Opposing “Price-Gouging”
Opponents of price gouging want to fine and imprison their neighbors for selling their own property at the "wrong" price.
Think Gentrification Is Bad? The Opposite Is Worse
Land has no intrinsic value, and its price can go to zero under various conditions. Nearby owners will soon find themselves wishing for gentrification.
Is Forced Military Service Good for the Economy?
The latest argument in favor of conscription is that it's good for the economy. But, it's all just another central-planning scheme.
The Eclipse: How Markets Could Have Prevented the “Traffic Nightmare”
After the eclipse, access to major roadways should have been priced according to highway capacity and demand.
How Welfare States Make Us Less Civilized
The market’s informal, spontaneous cooperation for mutual benefit has been replaced by a statist mindset.
A Flat Tax Is Not More “Efficient” Than a Tax System with Loopholes
If we want taxpayers to be more efficient, we should be giving them more tax loopholes. Closing loopholes has the opposite effect.
