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Category Archive for 'P-R'

“This is, of course, a very unrealistic assumption … these operations are often extremely costly … to prevent many transactions.” That was him referring to the oft-straw man argument by opponents of Coasean insights about “transactions costs being zero.” Coase obviously knew that. And he obviously was making a different point. The Coase Theorem as […]

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Gifts are the original sin of commerce. My theory is that this is why “the gift economy” is so cherished by critics of anonymous, ephemeral, market exchange. Market exchanges allow us to free ourselves from the power that our families and others exercise over us. The wider the extent of market competition, the less we […]

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Less Sexy, But More Important

One of our fine students, Dan DiLoreto shares his insights on how local and state regulations stifle commerce and ultimately hurt not just consumers but workers too. Here is a bit: The alcohol industry ultimately operates as a case study in how protectionist policies at both the national and the state level hurt growth and […]

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Monday Morning Reflection

I would prefer to be the only propertyless person in a propertied world rather than the only propertied person in a propertyless world.

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Before I proceed with this post, let’s get this out of the way. Here is a really cute elephant picture: And let me get the following out of the way: even though I understand the economics and arguments about why we may want to allow and perhaps even encourage hunting, I don’t like it at […]

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I am of the opinion that there can never be enough reflective history done on some of the ideas celebrated in our grade school (and college) textbooks. In today’s edition, Robert Bradley refers us to the Sherman Antitrust Act. You know the origin story – big business was destroying America, widening the gap between the […]

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Red Meat

Steak demand seems to be positively correlated with how red your politics are (HT: Jason Lusk and his Food Demands Survey).

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Do you know of a study that has examined both (the difference) between the market value of the global assets at risk over the next 100 years from rising sea levels and increasing storm intensity versus the replacement value of the global assets at risk over the next 100 years from rising sea levels and increasing storm intensity? Do […]

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Regulation I am in Favor Of?

Among the peeviest of my pet peeves is watching car commercials. Thankfully I don’t have to watch too many as I have largely substituted away from almost all forms of advertising. But think about all of these local car commercials that advertise amazing lease deals: “Just $199 for a Ford F-150 Extended Cab, for 36 […]

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If we truly wanted to reduce emissions from automobiles, and to save energy at the same time, we should hope to see a major swap. What would that be? Well, we would want to see all of the Toyota Priuses adorned with the following bumper sticker: Instead of the more typical ones you would find […]

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