Economic Education
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In Praise of Parking Lots
“There’s a good reason why Kansas’s wheat fields, Texas’s hunting reserves, New Jersey’s cranberry bogs, and Florida’s orange groves aren’t parking lots.” ~ Donald J. Boudreaux
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In Defense of Tipping, Part I: Principal-Agent Problems
“Tipping turns out to be an ingenious mechanism for solving principal-agent problems in a number of service-oriented industries.” ~ Anthony Gill
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In Defense of Allowing Collusion
“We understand that if markets are to serve consumers as well as possible, entrepreneurs and investors must enjoy wide freedom to experiment with different organizational and contractual arrangements.” ~ Donald J. Boudreaux
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Economics is Not Easy
” Since everyone looks to prices for accurate information about relative scarcity, having prices that are being inflated artificially is misleading, and results in multiple different economic actors all trying to expand at once.” ~ Michael Munger
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I Owe my Economics to Robert Heinlein
“I heard about this social science called economics, where apparently, they study people’s decisions using graphs and charts. I jumped at the chance to learn more. I really wanted to be Potiphar Breen when I grew up.” ~ Thaddeus Meadows
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Do You Have a Right To a Yo-Yo?
“In liberal society individuals aren’t tools for maximizing the performance of the economy. So the conflict should be resolved in favor of allowing collusion even though this resolution diminishes the marvelousness of markets. Individual rights trump economic efficiency.” ~ Donald J. Boudreaux
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New Apps Add Rationing to Reservations
“With no penalty, why would people not just make a reservation for a night they may want to go out to eat? This is where price rationing comes in.” ~ Samuel D. Peterson
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Adam Smith Can Save Your Golf Game
“Golf is a great way to learn to do things for yourself. Even when you’re playing with other people, you’re playing only against yourself, keeping your own score and holding yourself accountable to a set of rules that it is your own responsibility to internalize.” ~ Michael Munger
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Vacation Ownership: The Wolf of the Vacation Industry
“Timeshares, vacation clubs, all-inclusive clubs, fractional ownerships are all part of the vacation ownership industry whose goal is to convince people to pay increasing monthly fees for the rest of their lives in exchange for dream vacations in exclusive luxury resorts.” ~ Mary Dawood Catlin
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Pentagon Corrects “Accounting Error.” As Always, the First Casualty of War is the Truth
“Why has the Pentagon flipped? Obviously, the Pentagon initially wanted to exaggerate the amount of aid being given to Ukraine. ” ~ Clifford Thies
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•
In Praise of Parking Lots
“There’s a good reason why Kansas’s wheat fields, Texas’s hunting reserves, New Jersey’s cranberry bogs, and Florida’s orange groves aren’t parking lots.” ~ Donald J. Boudreaux
-
•
In Defense of Tipping, Part I: Principal-Agent Problems
“Tipping turns out to be an ingenious mechanism for solving principal-agent problems in a number of service-oriented industries.” ~ Anthony Gill
-
•
In Defense of Allowing Collusion
“We understand that if markets are to serve consumers as well as possible, entrepreneurs and investors must enjoy wide freedom to experiment with different organizational and contractual arrangements.” ~ Donald J. Boudreaux
-
•
Economics is Not Easy
” Since everyone looks to prices for accurate information about relative scarcity, having prices that are being inflated artificially is misleading, and results in multiple different economic actors all trying to expand at once.” ~ Michael Munger
-
•
I Owe my Economics to Robert Heinlein
“I heard about this social science called economics, where apparently, they study people’s decisions using graphs and charts. I jumped at the chance to learn more. I really wanted to be Potiphar Breen when I grew up.” ~ Thaddeus Meadows
-
•
Do You Have a Right To a Yo-Yo?
“In liberal society individuals aren’t tools for maximizing the performance of the economy. So the conflict should be resolved in favor of allowing collusion even though this resolution diminishes the marvelousness of markets. Individual rights trump economic efficiency.” ~ Donald J. Boudreaux
-
•
New Apps Add Rationing to Reservations
“With no penalty, why would people not just make a reservation for a night they may want to go out to eat? This is where price rationing comes in.” ~ Samuel D. Peterson
-
•
Adam Smith Can Save Your Golf Game
“Golf is a great way to learn to do things for yourself. Even when you’re playing with other people, you’re playing only against yourself, keeping your own score and holding yourself accountable to a set of rules that it is your own responsibility to internalize.” ~ Michael Munger
-
•
Vacation Ownership: The Wolf of the Vacation Industry
“Timeshares, vacation clubs, all-inclusive clubs, fractional ownerships are all part of the vacation ownership industry whose goal is to convince people to pay increasing monthly fees for the rest of their lives in exchange for dream vacations in exclusive luxury resorts.” ~ Mary Dawood Catlin
-
•
Pentagon Corrects “Accounting Error.” As Always, the First Casualty of War is the Truth
“Why has the Pentagon flipped? Obviously, the Pentagon initially wanted to exaggerate the amount of aid being given to Ukraine. ” ~ Clifford Thies