One lesson you should take from that is that as much as this sounds like the takeaway point from a bad high school commencement address, the end of your formal schooling is just the beginning of a life of sustained inquiry.
Does the picture of a huddled mass of homeless people outside a robotic coffee shop suggest the ruins of late-stage capitalism? I think not. It represents instead the “great deal of ruin” policymakers create when they make policy as if the laws of supply and demand are optional.
Pretty much every economics textbook explains how money has four functions. It is first and foremost a medium of exchange, and it ultimately derives all of its other functions from its usefulness as a medium of exchange.
What does the Austrian theory of the trade cycle have to do with Gordon Ramsay? Plenty.
Successful banks move resources from lower-value to higher-value uses while unsuccessful banks move resources from higher-value to lower-value uses.
If getting rid of the regulations would be of such unambiguous benefit to Arkansans, why doesn’t it happen swiftly?
Just because something is possible doesn’t mean it’s likely, though — or worth more than cursory attention.
Just as we come up with ever-newer ways to combine materials into new goods and services, people are constantly coming up with new ways to combine sounds into music.
Society is worse off to the tune of what these firms would have produced had they actually devoted those resources to creating wealth rather than simply redistributing it.
The governor has acted quickly. The governor has acted decisively. The governor has issued a proclamation that will make matters worse.