Tag: price system
On Demand Program of the Week: The Price is Right
February 8, 2016 | Post
Why does your iPhone cost $200.00? Why is the price of gas so volatile? What gives Uber the right to enact “surge pricing”? It’s easy to think of prices and profit as symbols of greed and corporate power, but prices are really just bits of compressed information that save you time and effort! What do […]
The Wonder of Market-Set Prices
February 5, 2016 | Post
The following appeared on Professor Don Boudreaux’s blog Cafe Hayek on January 24th, 2016. The following is an excerpt. Be sure to head over to his blog to check out the whole piece packed full of economic wisdom. In The Road to Serfdom,* F.A. Hayek makes an elaborate and important point that is summarized nicely, I […]
High Prices Convey Information, not Criminality
November 6, 2015 | Post
Last month’s record flooding in South Carolina brought renewed crackdowns on price gouging. But higher prices simply convey information – in this case that consumers should conserve and producers should produce. In this way, prices allow the shortages that occur in natural disasters to be alleviated. In the new Learn Liberty video below, Towson University […]