To its detriment, the U.S. might have insufficiently recognized the impact of China’s economic complexity in the U.S. China trade deal.…
Adam Smith
Adam Smith was a Scottish free market advocate and authored The Wealth of Nations.
What Presidents Added to Thanksgiving Economics
From George Washington to Abraham Lincoln and Franklin Roosevelt to George H.W. Bush, U.S. presidents have influenced Thanksgiving economics.…
Astronomically Different Prices for an Apollo 11 Videotape
Sold twice at auctions, the two prices of the Apollo 11 videotapes were astronomically different because of changes in demand and supply.…
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.…