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.

How Traffic Lights Relate to Adam Smith

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.

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.

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 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.

What a Sock Can Teach Us

Manufacturing Socks in a Regional Cluster Helps Firms to Optimize Production

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 weaknesses, and the worst of them…

The Power of the T. Rex Market

After a Tyrannosaurus rex named Sue was sold at auction for more than $8 million, the power of the market transformed supply and demand.

How to Make the Invisible Hand Disappear

With shortages of basic necessities, price controls, lack of foreign exchange and rising prices, Venezuela’s inflation rate is soaring.