Production Theory

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Public Goods and Bads

Production Theory


Here is an interesting paper by Christopher Coyne and Steve Davies. It counters the argument that empire produces public goods by pointing to the many public bads of empire.

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Minimum wage: A Tempest in a Teapot

Money and BanksInterventionismProduction Theory


What a wacky world we live in. An issue called the minimum wage fascinates the Pols even more than the price of meatloaf and 3 in the Senate cafeteria. Newspaper headlines hammer home this crisis in remuneration — I...

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Crowdsourcing and Open-Source Software

InterventionismMonopoly and CompetitionProduction Theory


In the last edition of The Freeman, David Levin and Michele Boldrin argue that "innovation could thrive" without an IP regime. And they propose that an "...

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A new national ranking

EducationTaxes and SpendingProduction Theory


Living near the home of a major state university, national collegiate rankings are a real source of pride. There are the typical sports rankings that make the headlines; those for football and basketball in particular. But lately, The Columbus Dispatch has...

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A Tale of Two Bridges

Free MarketsEntrepreneurshipProduction Theory


The government, famed for building bridges to nowhere, can't replace a bridge blown down by Hurricane Katrina in four times the time required for a private company to replace its bridge just downriver from it, blown down at the same time. And the private company is a railroad,...

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The Militarized Economy

U.S. EconomyWar and Foreign PolicyPolitical TheoryProduction Theory


Who is Robert Higgs? No economic historian working today has done more to untangle the intellectual mess that the welfare-...

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The State Against Economic Law: the Case of Minimum Wage Legislation

Capital and Interest TheoryInterventionismMoney and BankingProduction Theory


When it comes to matters such as the theory of evolution and stem-cell research, so-called liberals—i.e., socialists who have stolen the name that once meant an advocate of individual freedom—ridicule religious conservatives for their desire to replace science with the dictates of an alleged...

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"Buy American" Ignorance

Production TheoryValue and Exchange


This excerpt from an article on Americans abandoning U.S. automakers provides an idea of just how ignorant one would have to be to believe that "buying American" makes any sense:

Justin Watson, a 25-year...
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Has Card Been Misinterpreted?

Monetary TheoryProduction Theory


Here's an interesting excerpt from an interview with David Card by the Minneapolis Fed's Region (December 2006).

Is Card making the Austrian point that the perfectly competitive model (a.k.a. the simple supply and...

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Toyota Up, Ford Down

Monopoly and CompetitionProduction Theory


This morning's New York Times business page reports that Toyota is expected to replace Ford as the second-best selling automobile manufacturer in the United States next month. This is a significant event...

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