“Price Gouging” Sends Important Signals About Risk
If local prices are sending the message that everything's perfectly normal, residents may be overly optimistic about the risks they face during natural disasters.
Prices
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Charity Needs Markets
Even if everyone were totally charitable, we still could not build a complex economy without the price mechanism provided by markets.
OPEC’s Dilemma
The challenge from now on for OPEC and for oil producers is not to seek artificial price inflation, but to improve efficiency.
Economics Doesn’t ‘Measure’ or ‘Predict’, It Explains
The purpose of economic science is not to resolve all social problems, nor does it have appropriate tools for this.
How Not to Address Rising Oil Prices: Lessons from Nixon’s Price Controls
The crude oil “daisy chain” reseller boom is just one example of the absurdity of the 1970s price controls on the oil and gas sector.
The Rothbardian Critique of Consumer Sovereignty
Notwithstanding its endorsement by Mises, many modern Austrians reject the notion of consumer sovereignty as an inaccurate political metaphor.
Do Austrians Really Reject Empirical Evidence?
Statistics and empirical data aren't ignored by Austrians. Rather, they are relegated to their proper place in the economic edifice.
Measuring the Global ECONOMIC Temperature
Here are two ways to gauge the strength of the world economy.
Did Hayek Really Say that Free Markets Make Consumers Better Informed?
The price system conveys the relevant information about the supply and demand for different goods on the market to help consumers better economize.
Are Crude Oil Prices Becoming Immune to Geopolitics?
It no longer seems to be the case that a few countries can control oil prices. In other words, cartels are being even less influential in oil markets.
