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 Recreational Marijuana Last November, Massachusetts and California voted to…

Using Adam Smith to Cross the Road

Wondering why cars happily stop to let pedestrians cross the road on an island without traffic lights, we can find an answer from Adam Smith.

When the Price is Always Right

At two gas stations near Rotterdam, price is constantly changing. Using software that recognizes buying behavior, the retailers try to match the price to the customer. Those who are willing to pay more and those who cannot will each get appropriate price points. Done right, sales rise.…

What a Sock Can Teach Us

Manufacturing Socks in a Regional Cluster Helps Firms to Optimize Production