Economic Education
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On Some Differences Separating Choices in Private Settings from Choices in Political Settings
“The institutional implications of individuals choosing within markets and other private spheres differ categorically from the institutional implications of individuals voting to make major changes to the economy or society.” ~ Donald J. Boudreaux
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Self-Driving Cars and the Nirvana Fallacy
“While these cars may not be perfect, that would only mean they are well-suited for planet earth, where perfection only exists among the Platonic forms—and in the minds of D.C. regulators.” ~ Caleb S. Fuller
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What is Market Urbanism?
“Scott Beyer’s Market Urbanism offers welcome analysis and policy solutions, clearly explaining how free market alternatives can make our cities better for all their citizens.” ~ Robert F. Mulligan
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Making Sense of the Recession
“Unemployment, for good reason, lags the onset of recessions. And assuming that a widespread burst in employment categorically signifies optimism or portends a quick resumption of economic growth is simply unwarranted.” ~ Peter C. Earle
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Reich Strikes Out
“According to Reich, higher prices are due to the pandemic, which suppressed demand and created global supply chain problems, together with Russia’s invasion of Ukraine, China’s overzealous lockdown policies, and of course, capitalist greed.” ~ Robert F. Mulligan
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Price Ceilings of $0
“Whatever particular objections might be raised to legalization of the likes of prostitution or the selling of transplantable body organs, clarity of thought is enhanced by recognizing that the prohibitions in question are really price ceilings of $0.” ~ Donald J. Boudreaux
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The Strange Definition of Recession Is the Best We Have
“The reality is that the reason many use the flawed rule is because all other alternatives seem to be worse. As such, politicians and pundits who try to downplay talks of a recession by mentioning the flawed rule may be politically, and not economically inclined.” ~ Vincent Geloso
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From Republic to Democracy to Kakistocracy
“So how do we get from a republic to a democracy, and how does democracy become a kakistocracy during a period when democracy is so highly praised?” ~ Gary M. Galles
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Not so Modern Monetary Theory
“If the issue of an unbacked or insufficiently-backed currency exceeds the amount needed to pay the tax, and even exceeds the amount in demand as a medium of exchange, the value of that currency will fall (or, there will be inflation).” ~ Gary M. Pecquet & Clifford F. Thies
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Planning Fails Because Rules Rule
“What, then, are organizational leaders to do? Think like classical liberals and align incentives carefully! Give workers autonomy by allowing them to make decisions where they have superior information.” ~ Robert E. Wright
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On Some Differences Separating Choices in Private Settings from Choices in Political Settings
“The institutional implications of individuals choosing within markets and other private spheres differ categorically from the institutional implications of individuals voting to make major changes to the economy or society.” ~ Donald J. Boudreaux
-
•
Self-Driving Cars and the Nirvana Fallacy
“While these cars may not be perfect, that would only mean they are well-suited for planet earth, where perfection only exists among the Platonic forms—and in the minds of D.C. regulators.” ~ Caleb S. Fuller
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•
What is Market Urbanism?
“Scott Beyer’s Market Urbanism offers welcome analysis and policy solutions, clearly explaining how free market alternatives can make our cities better for all their citizens.” ~ Robert F. Mulligan
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•
Making Sense of the Recession
“Unemployment, for good reason, lags the onset of recessions. And assuming that a widespread burst in employment categorically signifies optimism or portends a quick resumption of economic growth is simply unwarranted.” ~ Peter C. Earle
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•
Reich Strikes Out
“According to Reich, higher prices are due to the pandemic, which suppressed demand and created global supply chain problems, together with Russia’s invasion of Ukraine, China’s overzealous lockdown policies, and of course, capitalist greed.” ~ Robert F. Mulligan
-
•
Price Ceilings of $0
“Whatever particular objections might be raised to legalization of the likes of prostitution or the selling of transplantable body organs, clarity of thought is enhanced by recognizing that the prohibitions in question are really price ceilings of $0.” ~ Donald J. Boudreaux
-
•
The Strange Definition of Recession Is the Best We Have
“The reality is that the reason many use the flawed rule is because all other alternatives seem to be worse. As such, politicians and pundits who try to downplay talks of a recession by mentioning the flawed rule may be politically, and not economically inclined.” ~ Vincent Geloso
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•
From Republic to Democracy to Kakistocracy
“So how do we get from a republic to a democracy, and how does democracy become a kakistocracy during a period when democracy is so highly praised?” ~ Gary M. Galles
-
•
Not so Modern Monetary Theory
“If the issue of an unbacked or insufficiently-backed currency exceeds the amount needed to pay the tax, and even exceeds the amount in demand as a medium of exchange, the value of that currency will fall (or, there will be inflation).” ~ Gary M. Pecquet & Clifford F. Thies
-
•
Planning Fails Because Rules Rule
“What, then, are organizational leaders to do? Think like classical liberals and align incentives carefully! Give workers autonomy by allowing them to make decisions where they have superior information.” ~ Robert E. Wright