Tracing the history of the app economy from the surprising first million dollar app to today, we would see how similar it is to a simple pencil.…
Throwback Thursday: Remembering Plane Comfort
For Throwback Thursday (#TBT) we can fondly look back to comfortable economy class travel before less pitch and width created shrinking airline seats.…
Japan’s Potato Chip Crunch
Creating a run on potato chips, Japan’s potato crisis is a classic supply and demand story that starts in the field and ends in the store.…
How the Power of the Market Makes Airline Passengers Happy
When airlines overbook flights, they just need to recognize the power of the market and pay passengers high enough prices (vouchers) for their seats.…
The Decline of Laissez-Faire
Perhaps it all began when President Lyndon Johnson called Wilbur Mills, chairman of the House Ways and Means Committee. “Wilbur, I’ve just been looking through the polls here, and I’ve only got a few …
Another Oil Problem
Affecting millions of salads, there is a European and U.K. produce shortage while the supply of Spanish, Italian and Greek olive oil is also down.…
The Clash Between a Tiny Bug and a Texas Rancher
When a tiny bug stops a rancher from developing his land, the result is a clash between a government protecting an endangered species and private property.…
Why December 31st is an Odd Length
Just like having the same weights and measures and money, when we all standardize our time with a soon-to-be-added leap second, our transaction costs drop.…
The Best Country For Libertarians
Rather than the ballot box, imagine you voted by moving to the country with your favorite economic philosophy. While a progressive might select Denmark or Sweden and social conservatives always have S…
The Price of a Nobel Prize
The auction prices for Nobel Prize medals are more than a number because a price can give us information about a good or a service,…