Yes, Economic Laws Still Apply to the Minimum Wage
Noah Smith has written yet another "popular" column challenging established economics assumptions. But he's really only appealing to his reader's established biases.
Value and Exchange
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The Rothbardian Critique of Consumer Sovereignty
Notwithstanding its endorsement by Mises, many modern Austrians reject the notion of consumer sovereignty as an inaccurate political metaphor.
Consumer Sovereignty: What Mises Meant
Mises stressed the primacy of consumer preferences in the determination of precisely which kinds of goods will be produced with society's scarce resources.
Why Newspapers Are Going Out of Business
Newspapers apparently have a very high opinion of the quality of the product they're turning out. Many consumers seem to disagree.
Why Camping Out To Buy Stuff Is a Rarity in a Market Economy
Forcing people to wait days in a line to buy your product may not be the most efficient way to distribute goods.
Freedom and the Minimum Wage
Political paternalists who insist upon setting minimum wages by government command closely resemble socialist central planners of the 20th century.
Profit and Charity Are Not Mutually Exclusive
In order to pursue “social justice” goals, firms must first manage to turn a profit. Otherwise, they'll disappear.
The Unseen Cost of Shoveling Snow
The broken-window fallacy can be seen everywhere — and snow removal must necessarily come at the cost of not doing something else.
Minecraft and Crusoe Economics
Minecraft serves as a model of a simple, developing economy that — not unlike the real world — continues to develop by accumulating capital.
College Athletes Aren’t What Make College Football Profitable
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.
