Sold twice at auctions, the two prices of the Apollo 11 videotapes were astronomically different because of changes in demand and supply.…
Adam Smith
Adam Smith was a Scottish free market advocate and authored The Wealth of Nations.
Why Did the Pedestrian Cross the Road?
In NYC and in Nantucket, Massachusetts, drivers respond to different incentives because Manhattan has traffic lights while Nantucket does not.…
What We Mean by Socialism
Knowing the different meanings of socialism and capitalism can help us better understand what we and presidential candidates support.…
The Most Unexpected Market
Like all activities that relate to supply and demand, ransom markets involve predictable behavior from kidnappers, their victims, and negotiators.…
The Economic Side of Legal Marijuana
When Massachusetts voters said yes to legal marijuana, they made an economic decision that relates to competition, taxes, and banking.…
How We Spend Our Money
By looking at one hundred years of consumer spending history, we can see how our food, housing, and clothing reflected our growing affluence.…
A 2019 Update: The World’s Top and Bottom Laissez-Faire Countries
The Index of Economic Freedom is a handy source of data for judging whether or not a government has a laissez-faire philosophy.…
When to Worry About Water
Approaching Day Zero, the people in Cape Town South Africa were conserving water by singing two minute shower songs and using 50 liters (13 gallons) a day.…
Six Facts: What It’s Handy To Know About China
A look at U.S. China trade history reveals how the Chinese economy has changed and what a combination of command and the market can accomplish.…
What We Say About Trade
In a Pew’s yearly survey of trade opinions, they uncovered a slew of contradictions that show most of like trade but cannot say why.…