Consumerism? Why People Spend on “Useless” Status Symbols
People buy things that reflect their value systems — values learned in homes and other non-market institutions. Meanwhile, markets don't force anyone to buy anything.
Value and Exchange
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Social Pressure vs. Consumer Preferences
Anti-capitalists love to claim that consumers don't really have free choice — that advertisers and peers really dictate to others what they should buy. In truth, consumers choose freely, but use others to filter information and simplify the process.
Why It’s Important to Understand “Economic Costs”
The concept of economic cost seems to confuse people. It is not the price you pay for a good, but the reason you pay it.
Can Cooperation Replace Competition?
Competition and cooperation and not two things in conflict. They are both essential ingredients in a society based on voluntary action instead of violence.
Billionaires Aren’t Quite As Rich as We Think They Are
If the Wal-Mart CEO were to take a $1 salary and the company were to spread that over each of the company's workers, each worker would receive a one-time bonus of $10.
How Human Action and Human Values Determine Prices
Prices are set by how much people value goods and services. And people value things based on what they think will improve their life and well-being.
