Things like forks and washing machines start out as "luxury" items for the rich. But thanks to markets, these goods, over time, become more and more accessible to everyone.
The EntrepreneurLabor and WagesPoverty
The rich get rich by virtue of making what's dear rather cheap, thus helping the poor the most.
Other Schools of Thought
SocialismTaxes and SpendingWorld HistoryInterventionism
Emmanuel Macron said he wanted to make France more free and more competitive. But his failed tax increase on gasoline shows just how fragile reform attempts are in France.
If we all still lived like cavemen, we'd have hardly any inequality at all. But that's not exactly something to aspire to.
Dr. Mark Thornton joined Glenn Beck for an interview on how Austrian economists have predicted every major crisis of the last century.
Does the Atlantic Magazine come down on the side of mainstream or behavioral economics?
The sheriff from tiny Marshall County, Alabama ordered 22,000 rolls of toilet paper and 450 cases or trash bags, nearly bankrupting the county!