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What exchanges take place, and which do not, is affected by how markets are regulated. Black markets and regulated markets have different outcomes than free markets.
Free MarketsOther Schools of ThoughtPhilosophy and Methodology
Rothbard’s work on welfare economics probably ranks among his least-known achievements, but it is truly a tour de force and another tribute to his great originality and talent as an economist.
Free MarketsCalculation and Knowledge
Robots are not fundamentally different from other labor-saving innovations, and there's no reason to believe increased innovation will lead to mass unemployment or mass poverty.
Free MarketsHealthU.S. Economy
Here we see two rival strategies to marketing healthcare services. The status quo is based on insurance payments and price secrecy. Walmart's strategy is based on price competition.
The EntrepreneurFree MarketsOther Schools of Thought
Population growth and specialization are not enough to make economies grow. The key ingredient is entrepreneurship.
Free MarketsLabor and WagesU.S. Economy
Last week Business Insider referenced a study to defend NYC's minimum wage law. Neither holds up well upon any sort of serious analysis.
Free MarketsSocialismOther Schools of Thought
Socialism and capitalism offer radically different solutions to the problem posed by scarcity.
Free MarketsSocialismPolitical Theory
Why do so many people resent capitalism, even when they benefit enormously from it?
Free MarketsEntrepreneurshipPhilosophy and Methodology
Thanks to entrepreneurs, markets are dynamic and constantly expanding. Attempts by governments to manage prices through the bureaucracy are sure to hinder this dynamism and drive to serve customers.
Free MarketsEntrepreneurshipValue and Exchange
Millennials are the focus of everyone’s attention in the housing business.