Employers Need Employees As Much As The Reverse
It should not be a surprise, but the current high price of labor (mistakenly called a “shortage”) sheds light on...
Free Markets
Two Weaknesses of Socialism
Two weekend stories in the Wall Street Journal remind us of two weaknesses of socialism or, for that matter, of...
Thanks to the Oppressed Chinese
Assuming a nuclear war can be avoided, perhaps future historians will remember the growth of the Chinese influence in the...
First impressions
Three years ago, the Atlanta Hawks traded Luka Doncic to Dallas in exchange for Trae Young and the right to...
How Dikembe Mutombo’s Career Illustrates the Case for Free Trade
Finally, when Dikembe Mutombo came to Georgetown University in 1987, what was his career plan? Answer: to become a doctor...
The Centrality of Exchange
Most government interventions consist in forbidding adult individuals (or their voluntary associations) to freely engage in acts of exchange: securities...
Lessons from China (and from Hayek)
A Wall Street Journal report of today (Stephanie Yang, “China’s Tech Clampdown Is Spreading,” June 6, 2021) suggests that the...
Tabula-Rasa Economics in Biden’s Speech to Congress
A good exercise for economics students is to find instances of economic nonsense in a politician’s speech. In his speech...
The Pandemic in Europe and America
The pandemic evolution now appears to be more worrying in Europe than in America, as illustrated by the graph below...
Who gains under non-price rationing?
The rich! Who gains under price rationing? The rich. And everyone else as well. The economy is not a zero...
