Bud Light executives thought customers wanted the beer to partner with a "transgender" celebrity. Or executives simply didn't care what customers thought. In any case, executives are now paying the price.
Modern Western culture is dominated by demands for "social justice." But how does one even define this term, and does social justice even produce justice in the end?
Other psychic factors being equal, it is to everyone's self-interest to maximize his monetary income on the market. But this maximum income can then be used for either “selfish” or for “altruistic” ends.
The roots of Austrian economics go back to the great theologian Saint Thomas Aquinas, whose view of what constitutes a good was a prototype of Menger's pathbreaking theory of the good.
Contrary to myth, businesses can't just set prices at whatever level they want. "Greedy" capitalists can ask for higher prices, but prices mean little if people are unable or unwilling to pay them.
The absence of market discipline in medicine cannot last. Governments and the medical cartel have successfully used fear to maintain control. Fear has kept the masses from rising up. Until now.
Arguments for equal pay are popular in our body politic, but what happens if some of those arguments are based upon the faulty logic of the labor theory of value?
