Most People Have a Basic Misunderstanding of the Word “Monopoly”
Numerous misunderstandings and mythologies surround the meaning of capitalism and competition, but few match the confusions over the meaning and […]
Business & Economics
Why a Facelift Costs Less Than a Knee Replacement
Between 1998 and 2017 prices for “Medical Care Services” in the US (as measured by the BLS’s CPI for Medical Care […]
Is China “Stealing” Intellectual Property and Does It Matter?
“I’ve never had an original thought in my life.” – Bob Huggins Bob Huggins is the head coach of the West […]
The Simple Reason Why Steel Tariffs Will Destroy More Jobs Than They Create
The US maps above show: a) the share of each US county’s employment in steel- and aluminum-producing industries in 2016 (top […]
A Beer War Is Brewing in Maryland
“Maryland Welcomes You: We’re Open for Business” may need to be amended to “We’re Open for Cronyism.” The 60+ craft […]
The “Internet Taxation” Fight Isn’t Really about Internet Taxation
One of the key principles of a free society is that governmental power should be limited by national borders. Here’s an […]
Trump’s Protectionism Will Just Make Everyone Poorer-If We’re Lucky
President Donald Trump has announced the planned imposition of a new, 25 percent tariff on imported steel and a 10 […]
3 Economic Fallacies That Just Won’t Die
In any academic discipline, one can find two types of experts: those who are incapable of explaining complex ideas in […]
Economics Was Invented to Refute Trump’s Tariff Arguments
When Adam Smith wrote Wealth of Nations, it wasn’t to refute the “godless socialists” 21st-century Republican voters believe are taking […]
President Trump’s Predecessors Learned about Steel Tariffs the Hard Way
That’s a slight variation of the title of a Yahoo! Finance news report from last year with this opening: In March 2002, President […]
33 Choice Quotes from the Great Murray Rothbard
Mr. Libertarian. That commonly-employed term tells you of Murray Rothbard’s importance to libertarian thinking. His New York Times obituary called […]
Free Trade Lets Us Turn Corn into Cars
People often see international trade and immigration as a way that foreigners take advantage of us, but economists, whether they’re […]
The Minimum Wage Harms Workers and Is Anti-Freedom
Most of us both value and take for granted the ability to make decisions about our own lives. When busybodies […]
The Cake Case Shows the Court’s Bias against Commerce
The Cake Case Shows the Court’s Bias against Commerce The narrative gained momentum after Citizens United and again after Hobby […]
Warren Buffett Won a Decade-Old $1M Bet
Warren Buffett Won a Decade-Old $1M Bet In 2007, Warren Buffett challenged finance professionals in the hedge fund industry to […]
Export-Led Growth Is Just a Fallacy
Export-Led Growth Is Just a Fallacy A fruitful discussion this morning with my Mercatus Center colleague Dan Griswold prompts me […]