Category Archives: Economics

a reality check on american standards of living

From an excellent article entitled 16 People On Things They Couldn’t Believe About America Until They Moved Here: When my husband moved here (to Canada) he was a Chilean living in Spain. When he first arrived, he couldn’t believe how … Continue reading

Posted in Economics, Standard of Living | Leave a comment

facts are stubborn things

The one great thing about Obamacare is that it is a beautiful illustration of economics in action. With most things in this world, it is very hard to discern cause and effect from just what is visible. I am reminded … Continue reading

Posted in Econ 101, Economics, Goverment, Price Controls, prices | 3 Comments

the terrible ending of the bet

The Bet is a very informative book by Paul Sabin. Sabin, an environmentalist, has nicely documented the history of the environmentalist doomsday prophets (e.g. Paul Ehrlich) and the prophets of plenty (e.g. Julian Simon). He does this through the events … Continue reading

Posted in Economics, History, Science, Standard of Living | 1 Comment

eating twice a day is gluttony

In Athenaeus’ Banquet of the Learned, he quotes Plato talking about his visit to Italy. Now Athenaeus lived around 200AD and Plato lived around 400BC, but both authors seem to think of multiple daily meals as exuberance. Here is Plato … Continue reading

Posted in Economics, Greek History, History, Jesus, Standard of Living | 1 Comment

anarchy in the walled city

All this intensity of random human effort and activity, vice and sloth and industry, exempted from all the controls we take for granted, resulted in an environment as richly varied and as sensual as anything in the heart of the … Continue reading

Posted in Economics, Goverment, History, Human Nature, Standard of Living, Trade | Leave a comment

understanding the dollar and exchange rates

It is a common talking point by laymen that the US dollar should trade at par or greater than the Canadian dollar, the British Pound or the EU dollar. If they wish to make the point that the EU is … Continue reading

Posted in Economics, prices, Trade | Leave a comment

the intellectual bankruptcy of macroeconomics

In a recent post by Bob Murphy, he makes the elaborate point that the mainstream economists not only are arrogant and condescending towards those who do not share their beliefs, but they continue to be in spite of their own … Continue reading

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restaurant food pricing

Russ Roberts asks why take-out food at sit-down restaurants is not less expensive than the sit-down prices. The assumption is that the price of food at a restaurant covers the fixed cost of operating a table. Russ wonder why those … Continue reading

Posted in Economics, Labor | Leave a comment

drugs are not as addictive as you think

In daily interaction with people it is hard to tell if their behavior is by choice or by mental compulsion. Do I drink a lot of Coke (Coca-Cola) because my mind needs it or do I drink a lot of … Continue reading

Posted in Economics, Human Nature, Open Theism, Science, Theology | Leave a comment

julian simon and his optimism on resources

From The Bet: Using the example of copper, Simon made his own extreme claims about mineral resource abundance. He rejected the idea that copper supplies would ever run out. More copper could be made from other metals, he said. “Even … Continue reading

Posted in Economics | 2 Comments