Category Archives: Economics

the free market solution to free riders

Posted on June 17, 2013 by christopher fisher

I wrote this years ago to explain to a professor that free riders (specifically those gaining benefits from the free actions of other people in a market economy) is not a market failure: In a normal market economy both the … Continue reading →

Posted in Econ 101, Economics, Trade | 1 Comment

sowell on swedish price controls

Posted on June 11, 2013 by christopher fisher

From Thomas Sowell’s book Basic Economics: Rent control had very much the same effects in Sweden. As of 1940, there were approximately 6,330,000 people living in Sweden and there were about 1,960,000 dwelling units to house them-about 31 housing units … Continue reading →

Posted in Economics, People, Price Controls, Sowell | 1 Comment

value is subjective – rap video

Posted on June 2, 2013 by christopher fisher

Below is a good primer on “value being subjective”:

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

economics in video games

Posted on May 30, 2013 by christopher fisher

Mises.org has a must-read article about monetary inflation in video games. Video games, especially massive multiplayer online video games, serve as mini experimentations in economics. When free people are able to transact (to create wealth) in video games, then an … Continue reading →

Posted in Economics, Inflation, Trade | 2 Comments

econ 101 – wealth creation

Posted on May 30, 2013 by christopher fisher

When economists talk about wealth creation, they are usually referencing the differentials in what value people are willing to pay from something and what the value the seller would be willing to sell for that same thing. This is known … Continue reading →

Posted in Econ 101, Economics, Standard of Living, Trade | 1 Comment

monetary inflation in the Bible

Posted on May 28, 2013 by christopher fisher

One interesting property of both gold and silver is that they do not rust. Rust is a property of iron. The only way gold or silver can rust is if iron is added to the gold or silver. Interestingly enough … Continue reading →

Posted in Economics, History | 2 Comments

the amazing increase in the worlds standard of living

Posted on May 23, 2013 by christopher fisher

Worth showing anyone who thinks the standard of living is falling.

Posted in Economics, History, Standard of Living, videos | Leave a comment

lies and statistics – presenting irrelevant information

Posted on May 23, 2013 by christopher fisher

Today the Huffington Post published a graphic depicting total tax as a percent of various sources. This was published under a column titled “The 1 Chart That Reveals Just How Grossly Unfair The U.S. Tax System Has Become”: The author … Continue reading →

Posted in Economics, Statistics | Leave a comment

econ 101 – people respond to incentives

Posted on May 23, 2013 by christopher fisher

Economics is all about the allocation of scarce resources, whether those resources be money, time, space, mental effort or any other reason. Human beings have unlimited wants, but limited resources to attain their wants. This means they must prioritize their … Continue reading →

Posted in Econ 101, Economics, Human Nature | Leave a comment

should climate scientists direct government policy

Posted on May 18, 2013 by christopher fisher

Climate science is hotly debated in the press. One side claims there is a solid and unimpeachable consensus on Global Warming (now being relabeled to Climate Change) and the other side points out that dissent is censored. But what if … Continue reading →

Posted in Econ 101, Economics, Science | 1 Comment