Value and Exchange

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Yes, Economic Laws Still Apply to the Minimum Wage

Bureaucracy and RegulationValue and Exchange

Blog04/18/2018

Noah Smith has written yet another "popular" column challenging established economics assumptions. But he's really only appealing to his reader's established biases.

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Why Newspapers Are Going Out of Business

Media and CultureValue and Exchange

Blog03/17/2018

Newspapers apparently have a very high opinion of the quality of the product they're turning out. Many consumers seem to disagree. 

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Why Camping Out To Buy Stuff Is a Rarity in a Market Economy

Value and Exchange

Blog02/28/2018

Forcing people to wait days in a line to buy your product may not be the most efficient way to distribute goods.

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Freedom and the Minimum Wage

Labor and WagesValue and Exchange

Blog02/13/2018
Political paternalists who insist upon setting minimum wages by government command closely resemble socialist central planners of the 20th century.

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Profit and Charity Are Not Mutually Exclusive

Monopoly and CompetitionPolitical TheoryValue and Exchange

Blog01/29/2018
In order to pursue “social justice” goals, firms must first manage to turn a profit. Otherwise, they'll disappear.

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The Unseen Cost of Shoveling Snow

Philosophy and MethodologyValue and Exchange

Blog01/27/2018
The broken-window fallacy can be seen everywhere — and snow removal must necessarily come at the cost of not doing something else.

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Minecraft and Crusoe Economics

Media and CultureValue and Exchange

Blog01/24/2018
Minecraft serves as a model of a simple, developing economy that — not unlike the real world — continues to develop by accumulating capital.

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College Athletes Aren't What Make College Football Profitable

Media and CultureSocialismValue and Exchange

Blog01/08/2018
Tickets for tonight's championship game are selling for well over $2,000, but people aren't paying just to see 20-something athletes play football.

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The Myth of Insufficient Demand

Business CyclesPricesValue and Exchange

Blog12/30/2017
The more goods that an individual can produce the more goods he can demand, and thus acquire.

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Why Profit Is So Important

EntrepreneurshipValue and Exchange

Blog12/27/2017
Profit has nothing to do with exploitation. It is about the most efficient use of real funding or real savings.

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