The grave robber joins the bootlegger, the gunrunner, the drug dealer, and the ivory poacher as another phony criminal created by laws that shouldn't exist, writes Adam Young. This audio Mises Daily is narrated by Colin Hussey .
The cost theory could not explain what actually forms spot prices on any given day. The Austrians had a better theory. This was an unambiguous advance in the science of economics, analogous to the superiority of Einsteinian relativity over Newtonian mechanics.
At $3 a pop, these little things seem like a rip-off. Yet consumers keep buying under the right conditions: mostly sports events for kids. What's more, competition isn't pushing the price down. Let us see how this all makes sense from an economic point of view.