Economic Education
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Why Don’t You Go Somewhere Else?
“As an entreaty from an employer to a worker, ‘Why don’t you go somewhere else?’ deserves more respect. In many areas of our lives, to exit (to other opportunities) is often a more effective mechanism than to negotiate (talking others into adopting your point of view).” ~ Gary M. Galles
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What Deeper Lessons Can We Learn From Southwest Airlines’ Meltdown?
“The lesson of Southwest Airlines’ debacle is not that it was ‘dumb’ or ‘shortsighted.’ Rather, it should make all of us think more deeply about the opportunity costs and benefits of small, or marginal changes in this efficiency-resiliency tradeoff.” ~ Craig J. Richardson
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Free-Market Capitalism is the Next American Economy
“Only by learning our unique history, and grasping the principles of free-market economics free from burdensome interference, can Americans embark on the next American economy.” ~ Vance Ginn
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Putting Aggregate Demand and Aggregate Supply to Work
“Economists use aggregate demand and aggregate supply (AS-AD model) to understand how inflation and real income growth are jointly determined.” ~ Bryan Cutsinger & Alexander William Salter
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Spare a Thought for Bubble Wrap
“Only a very wealthy society can afford to devote so much human ingenuity and effort to the careful production of packaging materials that are promptly discarded, in most cases, without a thought after a single use.” ~ Donald J. Boudreaux
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Where Do The Savings Go?
“As Henry Hazlitt reminds us, the art of economics consists not merely in looking at the effects on the most visible groups, but in tracing the effects on everyone.” ~ Art Carden
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Every Flaw in Consumers is Worse in Voters, Part Deux
“A ‘good’ industrial policy is impossible in a democracy. Progressives who want industrial policies don’t have that position only because they mistrust markets. Progressives mistrust democracy, and always have.” ~ Michael C. Munger
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Holidays of Luxury
“Market economies fuel incredible prosperity and the holidays provide useful examples of how we are better off today than a few decades ago. Consider the Christmas gifts and decor of years past, once deemed luxuries, now everyday goods.” ~ Laura Williams & David Waugh
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What if New Coke Had Been a Government Program?
“Would our lives be better were land, labor, and capital still tied up making New Coke and Crystal Pepsi? People have voted pretty overwhelmingly and answered ‘no.'” ~ Art Carden
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On the Need to Theorize Carefully
“Theorizing usefully about trade and other economic phenomena isn’t especially difficult, but doing so does indeed require care, wisdom, and humility.” ~ Donald J. Boudreaux
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Why Don’t You Go Somewhere Else?
“As an entreaty from an employer to a worker, ‘Why don’t you go somewhere else?’ deserves more respect. In many areas of our lives, to exit (to other opportunities) is often a more effective mechanism than to negotiate (talking others into adopting your point of view).” ~ Gary M. Galles
-
•
What Deeper Lessons Can We Learn From Southwest Airlines’ Meltdown?
“The lesson of Southwest Airlines’ debacle is not that it was ‘dumb’ or ‘shortsighted.’ Rather, it should make all of us think more deeply about the opportunity costs and benefits of small, or marginal changes in this efficiency-resiliency tradeoff.” ~ Craig J. Richardson
-
•
Free-Market Capitalism is the Next American Economy
“Only by learning our unique history, and grasping the principles of free-market economics free from burdensome interference, can Americans embark on the next American economy.” ~ Vance Ginn
-
•
Putting Aggregate Demand and Aggregate Supply to Work
“Economists use aggregate demand and aggregate supply (AS-AD model) to understand how inflation and real income growth are jointly determined.” ~ Bryan Cutsinger & Alexander William Salter
-
•
Spare a Thought for Bubble Wrap
“Only a very wealthy society can afford to devote so much human ingenuity and effort to the careful production of packaging materials that are promptly discarded, in most cases, without a thought after a single use.” ~ Donald J. Boudreaux
-
•
Where Do The Savings Go?
“As Henry Hazlitt reminds us, the art of economics consists not merely in looking at the effects on the most visible groups, but in tracing the effects on everyone.” ~ Art Carden
-
•
Every Flaw in Consumers is Worse in Voters, Part Deux
“A ‘good’ industrial policy is impossible in a democracy. Progressives who want industrial policies don’t have that position only because they mistrust markets. Progressives mistrust democracy, and always have.” ~ Michael C. Munger
-
•
Holidays of Luxury
“Market economies fuel incredible prosperity and the holidays provide useful examples of how we are better off today than a few decades ago. Consider the Christmas gifts and decor of years past, once deemed luxuries, now everyday goods.” ~ Laura Williams & David Waugh
-
•
What if New Coke Had Been a Government Program?
“Would our lives be better were land, labor, and capital still tied up making New Coke and Crystal Pepsi? People have voted pretty overwhelmingly and answered ‘no.'” ~ Art Carden
-
•
On the Need to Theorize Carefully
“Theorizing usefully about trade and other economic phenomena isn’t especially difficult, but doing so does indeed require care, wisdom, and humility.” ~ Donald J. Boudreaux