Category Archives: Price Controls

reasontv on airbnb

An excellent profile of an amazing company by ReasonTV:

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the great medical cost decline

The best way to illustrate with real life examples how “insurance” increases the price of services, is to compare covered procedures with uncovered procedures: Cosmetic Surgery Prices. Cosmetic surgery is one of the few types of medical care for which … Continue reading

Posted in Economics, Human Nature, Price Controls | 1 Comment

understanding insurance costs

Pretend you decide to spend a night out eating at Olive Garden. You arrive to find the restaurant filled with 49 other people, all who value and love Olive Garden’s food. But as soon as you sit down, the waiter … Continue reading

Posted in Econ 101, Economics, Goverment, Human Nature, Price Controls | 1 Comment

minimum wage maximum economic ignorance

Huffington Post is it at again. Showing their disdain for science, a new article declares that: The minimum wage debate is a shining example of the left’s vigor and academic prowess. Sadly, that is true. The minimum wage debate is … Continue reading

Posted in Econ 101, Economics, Goverment, Labor, Price Controls, Standard of Living, State Worship | 1 Comment

deadweight loss

The concept of Deadweight Loss is the concept of mapping the basic economic principle that people respond to incentives. In trade, if the cost of producing an item goes up, forcing an increase in price, the amount bought will decrease … Continue reading

Posted in Econ 101, Economics, Goverment, Price Controls, Taxes | 2 Comments

understanding the fall of detroit

In 1907 Eugene Richter wrote a book entitled “Pictures of the Socialistic Future”. The rise of communism and socialism did not occur until decades later, which makes the accuracy of Richter’s prophecies more chilling. Ritcher applied basic economics to how … Continue reading

Posted in Econ 101, Economics, Goverment, History, Human Nature, Labor, Leftists, Price Controls, State Worship, Taxes | Leave a comment

how the free market eliminates discrimination

It has long been argued by economists that price pressures create incentives for employers and merchants to end discrimination. This is true because when products are being sold at the natural market rate, limiting your customers necessarily shifts demand to … Continue reading

Posted in Abortion, Economics, Human Nature, Price Controls | 3 Comments