When no traffic lights on the island of Nantucket has created good will among strangers, it also might show the limits of Adam Smith’s laissez-faire.…
Adam Smith
Adam Smith was a Scottish free market advocate and authored The Wealth of Nations.
The Woman Who Wants a Moon Dust Market
Unless the U.S. government lets a woman in Tennessee keep and then sell her moon dust, it will remain a “priceless” national treasure with unknown value.…
All You Need to Know About Doughnuts
Knowing that last Friday was National Doughnut Day, we can thank the inventor that made doughnut mass production possible.…
What Unexpected Markets Are Saying About the Royal Wedding
Frequently more accurate than individuals, markets can determine prices and even tell us what will happen at a royal wedding.…
How Taylor Swift Solved Her Ticket Problem
Through her new concert tour, “Reputation,” Taylor Swift may have figured out how to prevent scalpers from reducing ticket availability and getting too much of her revenue.…
A 2018 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.…
How a Paper Jam is Like a Recession
Whether it’s the paper in your copier machine or the goods and services in a market economy, flows and jams can be rather similar.…
Why Valentine’s Roses Bloom in Colombia
Most of our Valentine’s roses come from Colombia because of the U.S. government, the perfect combination of land, labor and capital, and Walmart.…
Selecting the Right Rent
When small landlords set their own NYC rents, they are nudged toward equilibrium by the power of the supply and demand sides of the market.…
How to Plant Marijuana Markets
The issues are surprisingly similar for a tiny island like Nantucket and a huge state like California. Both are figuring out how to create the marijuana markets that they legalized. Legalizing Recreat…