The law of supply and demand is often misunderstood and misconstrued, and it has downstream effects for our understanding of economics. In this video, Learn Liberty Basics establishes supply and demand as ever-changing RELATIONSHIPS, not constants. We also lay out some of the early history of our idea of supply and demand. CHAPTERS 0:00 […]
Even Santa’s elves can’t repeal the laws of supply and demand.
Editor’s note: This post originally appeared at Forbes. ESPN is reporting there’s outrage among some observers that people are scalping their “free” tickets to Ali’s memorial service in Louisville. Just as there is no such thing as a free lunch, there’s no such thing as a free ticket to a memorial service. ESPN quotes several […]
With all the excitement of the 2016 presidential election ramping up, it’s even more important to think critically about proposed government policy. Not only are voters biased, they’re often swayed by policies which sound good, but which don’t always have good results. Randal O’Toole, a policy analyst at the Cato Institute, illustrates the careful balancing […]
Have you ever stated economic principles as haiku? Have you tried? Economics professor Art Carden takes the challenge in this short video on the laws of supply & demand.