Capitalism
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Dynamic Pricing Puts the “Fast” Back in Fast Food
“By offering lower prices in off-peak hours, Wendy’s would be able to attract more customers overall, thus charging lower prices on average, even if prices during peak periods were higher than what they charge now.” Thomas Savidge and Louis Rouanet
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Proletarian Capitalism
“Simply by repurposing existing personal property, Uber, Airbnb, and other sharing-economy innovations enlarge humanity’s stock of productive capital. And in doing so, these innovations also create more capitalists.” ~Donald J. Boudreaux
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Unseen Innovation
“An individual innovation is small, minuscule even. But it’s real and it improves our standard of living. Yet how many of you have noticed it? Almost none. The market, therefore, gets no credit for it.” ~Donald J. Boudreaux
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The Beginning of the Modern World: It Was Always the Dutch
“The Dutch Republic was a common destination for a brain-drain of innovators from elsewhere: merchants from the south, bakers from Germany, Portuguese and Spanish Jews.” ~Joakim Book
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Capitalism Is Impersonal, Not Soulless
“Because in today’s global economy the people with whom we interact economically number literally in the billions, the percentage of these persons with whom we also interact personally is near zero.” ~Donald J. Boudreaux
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This Joke Isn’t Funny Anymore: Maybe You Don’t Need a Can Opener
“Pull tabs and plastic bottles are among the innumerable wonders free people exercising free minds in free markets bring to us every day in exchange for progressively fewer fruits of our labors.” ~Art Carden
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Johan Norberg’s The Capitalist Manifesto: A Review
“What matters for the capitalist story to flourish is that its effect on the world continues to be positive, not whether market actors believe it while embodying its principles.” ~Joakim Book
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Why Adam Smith Would Have Been a Baseball Fan
“A player who fails with the bat two out of three times becomes a superstar. Likewise, a market economy also creates the possibility of failure.” ~Paul McDonnold
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Is There a Problem? vs. Is this Competitive?
“Amazon’s offering lower prices compared to online rivals undercuts the FTC’s assertion that it is a proof of its monopolistic abuse, yet it is completely consistent with Amazon’s pro-consumer explanation.” ~Gary M. Galles
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The FTC’s Amazonian Snipe Hunt
“The FTC argues that Amazon’s market power inhibits the ability of competitors to enter the retail superstore marketplace. Such concerns are likely overblown.” ~David Gillette and Warren Barge
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Bookstore Protectionism
“Both past and present suits claimed that the problem was dominant sellers unfairly harming independents, which thereby undermined competition. But in that, they misrepresented both what competition means and who was harming less-successful competitors.” ~Gary M. Galles
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You’re No Einstein, Einstein
“While he does seem to have intuited that socialism increased the dangers of authoritarian government, he doesn’t seem to have fully grasped that what he sought were two goals in fundamental tension.” ~James A. Hanley
