Homines libenter quod volunt credunt
Posted in Macroeconomics, Money on Jun 5th, 2008
What is the World’s Most Profitable Company? If you guessed Exxon-Mobil, you would, of course, be correct. But what if I asked you who was the second most profitable company? Is it:
Posted in Economic Illiteracy on Apr 17th, 2008
In medieval Europe, manufacturers sold durable goods to anonymous consumers in distant markets, this essay argues, by making products with conspicuous characteristics. Examples of these unique, observable traits included cloth of distinctive colors, fabric with unmistakable weaves, and pewter that resonated at a particular pitch. These attributes identified merchandise because consumers could observe them readily, […]
Posted in You Can't Have it Both Ways on Mar 21st, 2008
Many who oppose individual liberty and free exchange levy the common charge that big corporations are necessarily exploitive of both consumers and workers. I can’t tell you how many times, even in polite company, I listen to people argue how evil Exxon is because they earned over $10 billion during the last fiscal year (over […]