Why are some countries successful while others aren’t? Is it down to natural resources, colonialism, or can it be better explained by something else?
Learn Liberty recently released a video titled “What if There Were No Prices? Railroad Thought Experiment” with Professor Howard Baetjer of Towson University. The video argues that market prices communicate the value of goods and services in the economy so that those goods and services are allocated to their most productive (and value generating!) uses. […]