Tag Archives: Economics

Lemonade Stand Economics

Posted on January 29, 2012 by

Thanks to Russ Robert of Cafe Hayek for pointing me to Jerry Jordan’s Investors Business Daily article,  Government Accounting is Like Lemonade Stand Economics. I attempted to explain the same topic that Jordan writes about last September in my post, … Continue reading →

Posted in Economics, Finance, Power of Incentives, Pricing | Tagged , , | 1 Comment

Did you get that hot Christmas toy?

Posted on January 28, 2012 by

Last night I heard this sound bite from President Obama: If you [colleges] can’t stop tuition going up, your funding from taxpayers will go down. I wonder if he has considered that the funding from taxpayers is the very cause of … Continue reading →

Posted in Economics, Government, Politics, Power of Incentives | Tagged , , | 2 Comments

Enlightening Aggregation

Posted on July 30, 2011 by

I typically think that looking at things like the economy in terms of aggregates is not helpful.  GDP, for example, is an economic aggregate, or a sum of several different categories of spending that is used as a gauge on … Continue reading →

Posted in Economics, Government, Liberty | Tagged , , , , , | 2 Comments

I was the 301st person to watch this on Youtube

Posted on April 28, 2011 by

Here’s the second round of the Keynes vs. Hayek.  Enjoy.  I donated $50 to this project. And here’s Round 1 in case you missed it. Thanks to Russ Roberts and John Papola for their excellent efforts, great lyrics and high … Continue reading →

Posted in Debate, Economics, Emergent Order, Global Warming, Myths | Tagged , , , , | Leave a comment

Gas prices

Posted on April 27, 2011 by

A common quandary that perplexes many folks is fluctuating gas prices.  Whenever gas prices increase quickly, I typically hear something like the following: The cost of the current stock of gas in the underground tank at the gas station was … Continue reading →

Posted in Economics, Opportunity Cost | Tagged , , | 2 Comments

Macro economics is like magic? Close to it.

Posted on January 7, 2011 by

F.A. Hayek regarding the ‘Austrian School’ of economics, from The Fatal Conceit (p. 98): By its stress on what it called the ‘subjective’ nature of economic values it produced a new paradigm for explaining structures arising without design from human … Continue reading →

Posted in Critical Thinking, Economics, Emergent Order, Open Source, Politics, Science, Trial and Error | Tagged , | Leave a comment

Allocation Through Pricing

Posted on December 21, 2010 by

Several years ago a friend got me hooked on the annual tradition of buying Beaujaolais Nouveau in November.  This red wine is made from the grapes of this year’s harvest and is shipped out across the world on the third … Continue reading →

Posted in Critical Thinking, Economics, Opportunity Cost, Pricing | Tagged , , , | Leave a comment

George Lopez Agrees With Louis CK

Posted on November 19, 2010 by

I saw George Lopez live last night.  Very entertaining, though he seemed a bit punch drunk and bitter from a divorce. A common theme in Lopez’s act was how well we live compared to even just a generation ago, which … Continue reading →

Posted in Critical Thinking, Economics, Feedback, Systems thinking, Trade Offs | Tagged , , | 3 Comments

Unfair Trade Practices

Posted on October 13, 2010 by

Don Boudreaux of Cafe Hayek wrote a letter to the Milwaukee Journal-Sentinal about Senator Russ Feingold’ statement that “unfair” trade practices have led to the destruction of 64,000 jobs in Wisconsin. Nobody thinks 64,000 people losing jobs is great.  But, … Continue reading →

Posted in Critical Thinking, Economics, Trade Offs | Tagged , , , , | Leave a comment

We Can Now Afford Gardens

Posted on October 6, 2010 by

This EconLog Everything’s Amazing, Nobody’s Happy post today from Arnold Kling ended with Kling observing: Today, we take specialization and trade for granted. We get ticked off when the government “fails to create jobs.” Yet the unemployed do not revert … Continue reading →

Posted in Economics, Standard of Living | Tagged , , , , , | Leave a comment