Category Archives: prices

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

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

Why did Ford double wages?

When competition is allowed, labor flows to its most effective use at its natural market price. When competition is not allows, such as the government mandating minimum prices, the results are unemployment and under production. Continue reading

Posted in Economics, History, Labor, prices, Standard of Living | Tagged , , | 1 Comment