“I learned in economics that in ‘perfect competition’ profits are zero, so any actual profits come from some kind of monopoly power. So how could profits be good?”
Imagine a society that always encouraged you to make the right choices without forcing to make those choices.
Two front-page stories in the Metro section of Monday’s Washington Post depict protected service providers desperately trying to fight off innovations that might serve customers better and threaten the comfortable incomes of the established providers.
If we want the market order to survive, we will have to continue to treat it both in theory and practice as a realm of moral and virtuous behavior.
Airbnb is now facing greater opposition in New York thanks to a recent bill signed by Governor Andrew Cuomo which bans advertising of short-term rentals.
Solar power can only survive with an army of lobbyists dedicated to securing millions in taxpayer dollars.
Whether it’s music, art, or commerce, it’s competition that makes the world beautiful.
The right of humans to freely cooperate on an open market is the surest way to bring about not only economic, but human harmony.
The work you do probably does not produce something you could consume. Even more striking is the fact that almost everything you consume is something you could not possibly produce. Your daily life depends on the cooperation of hundreds of millions of other people.
It’s not BlackBerry’s fault the Apple iPhone has become the go-to smartphone for consumers worldwide.
We’re just a month out from what’s sure to be a historic presidential election. Check out the links below to get caught up before heading into the weekend. The United States suspended talks with Russia as the situation in Syria escalates following a failed ceasefire just weeks ago. Women’s U.S. chess star Nazi Paikidze is […]
The spread of markets into the healthcare sector has allowed us to live longer than ever before.
Entrepreneurs pitch an endless stream of Ideas. Everyone argues over which can work. A few attract funding. Most fail. This competitive market process ensures only the best survive.
YouTube is effectively censoring video content by barring videos that depict controversial subjects from collecting advertising revenue.
Senator Elizabeth Warren recently delivered a speech in Washington entitled “America’s Monopoly Problem,” and it could completely change the way we live our lives. That’s because if she is chosen by Hillary Clinton to be the Vice President and if Clinton defeats Trump, this could be a signal of what is to come with respect to antitrust activity […]
The start of summer means that many of us are planning far-flung summer vacations. But the excitement of such vacations is always just a little dulled by the insanely long lines at the Transportation Security Administration (TSA). Stories of three-hour wait times and hundreds of missed flights because of slow security lines have become unfortunately […]
Editor’s Note: This is part one in a two part series from Sarah Skwire on women and liberty. You can read part two here. I’ve been a feminist for as long as I can remember. One of our oldest family stories is of Young Sarah asking Mom why Puppy Chow had a commercial that said “Don’t […]
Markets can be regulated by the figurative force of competition or by the literal force of government. Which better protects buyers and sellers? Contrary to popular belief, regulation by competition usually renders regulation by government either unnecessary or counterproductive. Regulations are usually presented to the public as a matter of guarding the public interest and […]
Christmastime isn’t just about giving presents and sleeping in all morning. For many, it means boozy holiday parties and a chance to kick back a beer (or three) with family and friends. But holiday brews aren’t cheap—and it’s not the alcohol that makes them so expensive. In the video below, George Mason University Professor Christopher […]