The profit motive gets a bad rap, but it's both wrong and backward.
Category: economics
The Unplannable Market
The insight that the market is not some "thing" that can be understood and duplicated should make those who understand it immediately skeptical of any policy proposal that seeks to tweak and mold the market process to predictable outcomes. No such tweaking is possible without unintended consequences and unacceptable trade-offs, for the market process as a whole is greater than the sum of its parts.
Minimum Wage Quick Fact
The primary earners of minimum wages are not single-earner heads of household.
Data Don’t Speak for Themselves
That's one thing economics and physics have in common.
Cowen on Big Business and Social Change
The market is in many instances at the forefront of social change rather than merely reactive to it.
“Free Trade and Prosperity”
Selections from the Preface through Chapter 2.
Energy and Subsidies
Phasing out subsidies for energy: good. Phasing out politically unpopular sources of energy: bad.
Medicaid and Household Income
There's an inverse (and perverse) relationship between Medicaid provision and household income.
Immigration Pessimism
Empirical evidence suggests immigration is highly beneficial for immigrants and native-born citizens alike. Unfortunately, people don't like changing their beliefs.
Corruption at Amtrak
In which Amtrak gets away with securities fraud.
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