Category Archives: Econ 101

Understanding Supply and Demand Graphs

Posted in Econ 101, Economics, prices | Leave a comment

why income taxes cannot be targeted

See also: https://mises.org/library/new-confusion-about-taxes

Posted in Econ 101, Economics | 1 Comment

a first class economist on the minimum wage

An important post on the Minimum Wage debate. Don Bourdreaux posts some blog comments from an anonymous commenter. Excerpts: On possible unintended consequences: (1) Low-skilled workers can be replaced by slightly more-skilled workers once the wage difference between them has … Continue reading

Posted in Econ 101, Economics, Incentives Matter, Price Controls | Leave a comment

why economists are more reliable than doctors on health issues

Russ Roberts and Emily Oster explain exactly why Economists should be the more trusted individuals for health decisions. Roberts also explains why doctors are particularly ill-suited to make health related recommendations. The reason is that doctors generally do not understand … Continue reading

Posted in Econ 101, Economics, Statistics | Leave a comment

professional photographer 2 minutes of hate

April 15 is known as Tax Day in America. Within the professional photography community it is a day of rage. In 1984 terms, it is their Two Minutes of Hate. Up to a third of photography business profits might be … Continue reading

Posted in Econ 101, Economics, Goverment, Incentives Matter, Price Controls, prices, Standard of Living | Leave a comment

taxi avoidance of regulation

About 14 million people live in Bangkok. The city is a sprawling maze of streets with the traffic density to match. Most residents drive scooters, but plenty of cars are also to be found. Many (a visible estimate of half) … Continue reading

Posted in Econ 101, Economics, Incentives Matter | Leave a comment

the nirvana fallacy

From a post by David Henderson: When people advocate government intervention, they rarely, maybe never, tell us how the incentives will be set up so that government will do the right thing. Think about how asymmetric the argument is. Incentives … Continue reading

Posted in Econ 101, Economics, Goverment, State Worship | Leave a comment