It’s silly to think businesses and CEOs are evil and greedy, but ordinary customers are helpless victims.
Learn how to drop the word “déblocage” into your romantic evening
The glowing claims about minimum wage laws don’t pass the most basic economic smell tests. Just look at the data from Europe.
Making higher education free of charge won’t make it free to provide.
Even Santa’s elves can’t repeal the laws of supply and demand.
Have you ever stopped and looked around the grocery store? There are thousands of products neatly arranged and conveniently located just for you.
A market for parking free of government manipulation would reduce inequality, improve the environment, and make cities more livable.
Can you really blame universities for charging high prices for football tickets when so many people are willing to pay for them?
Each consumer is free, on his or her own, to visit farms and factories and processing plants in order to purchase items directly from producers. But, of course, such visits would be enormously time consuming and would cost quite a lot in airfare and other travel expenses. We know that retailers and other middlemen perform valuable services because we observe consumers, everyday, voluntarily paying for these services.
The law of demand still applies even to overrated musicals.
In the current debate about the minimum wage, some argue that higher minimum wages boost the economy overall. If workers receive higher wages, the reasoning goes, then they will have more money to spend, and their increased spending will boost business all around. In this news video, for example, an activist in the citizen action […]
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 […]
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 […]
Preston Cooper over at Economics 21 has written an excellent piece about minimum wage’s effects on employment. Economics teaches us that when you raise the price of a good, the amount of that good which is demanded goes down. This is true whether the thing for sale is ketchup or labor. Supporters of the minimum […]
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 […]