Homines libenter quod volunt credunt
Posted in Economic Illiteracy on Jun 3rd, 2008
Don Boudreaux sent a fantastic short letter to the USA Today: Re your editorial “One bright sign emerges in a gloomy housing market” (May 29) and the general dismay about falling real-estate prices and rising gasoline prices: What principle of economics suggests that markets are working well when the price of one asset (say, housing) […]
Posted in Corporatism on Mar 10th, 2008
Steven Landsburg understands, perhaps better than anyone, what the difference is between the seen and the unseen. I like to say that people hate high prices unless they are receiving them (remember, wages are a price). Landsburg points out that: We see the sad faces of the people moving out, but we don’t as often […]
Posted in Macroeconomics on Feb 27th, 2008
Maybe, maybe not. Read more here.