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.
Prices
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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.
School Vouchers Are Basically Food Stamps
Governments already use vouchers in many areas, including food and housing. Fortunately, those vouchers only go to a small portion of the population.
The Myth of Insufficient Demand
The more goods that an individual can produce the more goods he can demand, and thus acquire.
Consumers Are Smarter than Bureaucrats Think
The government doesn't think you can make good choices voluntarily. So it's happy to step in and force you to make "better" choices.
