Category Archives: Market Economy

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 | 2 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

Anti-capitalist millennials

Tom Switzer and Charles Jacobs have a somewhat depressing op-ed in The Australian this morning: According to a Centre for Independent Studies/YouGov poll, 58 per cent of Australian millennials — those born between 1980 and 1996 — have a favourable … Continue reading

Posted in Economics and economy, Education, Market Economy | 67 Comments

Mikayla Novak on civil society

My RMIT colleague Mikayla Novak has the lead article in the latest issue of Cosmos + Taxis. From the abstract: I depict civil society as a complex and adaptive phenomenon. Individuals and groups within civil society interact with each other … Continue reading

Posted in civil society, Cultural Issues, Market Economy | 38 Comments