Balloon boy hoax: vice not crime

The press says that the nation was transfixed by a spaceship-like balloon last week that was supposedly carrying a young child, with press and police chasing this thing for miles, but then it turned out to be a hoax. Not having been among the transfixed - I had never heard of this until yesterday - it strikes me as a testament to the gullibility of the press to have seized on this to begin with.

The Economics of Flying

Sometimes market actors make you wonder about the truth provided by economic theory and if it really applies to the real life market. One would think that firms competing for customers should do what they can (actually, all that they can) to provide better service at lower prices – and protect their customers from disturbances, problems, and delays.

But that does not apply to the airline industry.

The World of Salamanca

It is striking that the major resurgence of Scholastic ideas came out of Austria in the late 19th century, a country that had avoided a revolutionary political or theological upheaval. If we look at Menger’s own teachers, we find successors to the Scholastic tradition.