Category Archives: Market Economy

Ludwig von Mises

  “He fought and he fought and he fought. Without ever seeing the evidence that he was ultimately right”.  Jeffrey Tucker.

Posted in Economics and economy, Market Economy | 1 Comment

For they were jolly good fellows

It will be a shame if the Liberal Party’s 75th anniversary celebration this weekend is overshadowed by a growing scandal about old horses being sent to the knackery. But let’s be kind and celebrate the party’s two greatest achievements. First: … Continue reading

Posted in Australian Story, History, Market Economy | 344 Comments

Platform economies face competition

One of the arguments we (often) hear is that the new digital business model (so-called platform economies) will operate in a winner-take-all market. That we will be inundated with monopolies. Certainly that is the line anti-trust regulators are pushing – … Continue reading

Posted in Cryptoeconomics, Economics and economy, Innovation, Market Economy | 15 Comments

Crony capitalism at work: Will nobody think of the children

It has been painful watching the often sensible Adam Creighton and normally sensible Paul Kelly contort themselves in praise of the ACCC report hit-job on social media platforms this week. Paul Kelly’s effort in The Australian this morning is magnificent … Continue reading

Posted in Cryptoeconomics, Freedom of speech, Market Economy, Media | 49 Comments

It’s more difficult to understand why socialism doesn’t work than you might think

The reasons are explicable but they are very difficult to understand without a thorough knowledge of how economies work. From Instapundit GLORIA ALVAREZ ON REASON TV: Socialism Fails Every Time (Video): . It certainly has a lot of bad luck associated with … Continue reading

Posted in Market Economy, Socialism | 56 Comments

EEO unintended consequences

Do Equal Employment Opportunity Statements Backfire? Evidence From A Natural Field Experiment On Job-Entry Decisions Andreas Leibbrandt, John A. List NBER Working Paper No. 25035 Issued in September 2018 NBER Program(s):Law and Economics, Labor Studies Labor force composition and the … Continue reading

Posted in Market Economy, Rafe | 12 Comments

Once more unto the IR breach dear friends!

Is the new PM showing some ticker on IR? A few thoughts to help, Hutt’s demolition of some myths that sustain the illegal and productivity-destroying activities of rogue trade unions. He also wrote somewhere that democracy might not survive unless … Continue reading

Posted in Market Economy, Rafe | 13 Comments

Deirdre McCloskey on admiring entrepreneurs

Why do we need entrepreneurs? What is their role in a free society? We need entrepreneurs to decide what to do. The only alternative is governmental bureaucracy, which is good for national defense and a few other things, but very … Continue reading

Posted in Market Economy, Rafe, Take Nanny down | 5 Comments

The first fair and deliberate exchange in world history

From The Wealth of Nations: “Nobody ever saw a dog make a fair and deliberate exchange of one bone for another with another dog. Nobody ever saw one animal by its gestures and natural cries signify to another, this is … Continue reading

Posted in Classical Economics, Market Economy | 8 Comments

Peter Boettke on F A Hayek

Peter Boettke is a prolific writer and a Professor of Economics and Philosophy at the George Mason University at Fairfax, Virginia. He was elected President of the Mont Pelerin Society for 2016-2018. He has written a major work on the … Continue reading

Posted in Classical Economics, Market Economy, Philosophy, Rafe | 6 Comments