Econ 101 is often dismissed as too simplistic. Yet recent events suggest that Econ 101 is underrated. Take the tariff debate: understanding that a tariff is a tax, that prices represent opportunity costs, that a bilateral trade deficit is largely meaningless, that a so-called trade “deficit” is equally a goods surplus or an investment surplus—these […]
Econ 101 is Underrated: Pharma Price Controls
Econ 101 is Underrated: Pharma Price Controls
22 May 2025 Leave a comment
in applied price theory, development economics, economics of regulation, entrepreneurship, health economics, law and economics, politics - USA, property rights Tags: 2024 presidential election, patents and copyrights, price controls, price discrimination
He should have apologised
19 May 2025 Leave a comment
in law and economics, politics - Australia, property rights Tags: defamation, free speech
The ABC reports: There are concerns that former Victorian Liberal leader John Pesutto will be bankrupted after being ordered to pay costs of $2.3 million after losing his defamation battle with Moira Deeming. … The Federal Court order handed down on Friday morning, raises the prospect Mr Pesutto will be bankrupted and forced out of…
He should have apologised
David Friedman on markets, governments and whether we need either?
19 May 2025 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, David Friedman, defence economics, economics of crime, economics of regulation, environmental economics, history of economic thought, industrial organisation, law and economics, property rights
Once again, pro-Palestinian protestors at the University of Chicago violate campus rules but don’t get punished
19 May 2025 Leave a comment
in economics of crime, economics of education, law and economics, politics - USA, property rights Tags: free speech, Gaza Strip, Israel, Middle-East politics, regressive left
If you’ve read about the various pro-Palestinian and anti-Israel protests across American campuses, one thing you’ll notice is a general reluctance to punish demonstrators when they violate university rules. Of course protests are usually fine if they conform to First Amendment principles (though some schools don’t hold those principles), but they’re never fine when they […]
Once again, pro-Palestinian protestors at the University of Chicago violate campus rules but don’t get punished
Trump Administration Targets State Climate Laws
17 May 2025 Leave a comment
in economics of climate change, energy economics, environmental economics, environmentalism, global warming, law and economics, politics - USA, property rights, Public Choice, rentseeking Tags: climate alarmism, nuisance suits
The Constitution explicitly states that neither the Congress nor any state may pass an “ex post facto Law,” which imposes criminal liability for past actions that weren’t restricted at the time. The Maryland, New York, and Vermont acts all propose to tax companies retroactively for legally producing fossil fuels.
Trump Administration Targets State Climate Laws
Is this a gold mine? Iwi might need consulting (for a fee) before your development can be given RMA consents
16 May 2025 Leave a comment
in economics of regulation, energy economics, law and economics, politics - New Zealand, property rights, resource economics, urban economics
Bob Edlin writes – West Coast Regional Councillor Allan Birchfield has whipped up a fuss in his neck of the woods by challenging the Ngāti Waewae representative Francois Tumahai over the iwi’s role in resource consenting. The iwi – it seems – must agree to gold-mining consents in gold-mining country, presumably after appropriate consultation or engagement […]
Is this a gold mine? Iwi might need consulting (for a fee) before your development can be given RMA consents
Policy whiplash risks eroding NZ’s investment stability
10 May 2025 Leave a comment
in applied price theory, comparative institutional analysis, economics of regulation, energy economics, environmental economics, law and economics, politics - New Zealand, property rights
Roger Partridge writes- Resources Minister Shane Jones recently floated a novel idea: Government-backed insurance for oil and gas investors to protect them against future policy reversals. Let that sink in. A New Zealand minister is contemplating taxpayer-funded insurance to compensate companies against… the decisions of future New Zealand Governments.
Policy whiplash risks eroding NZ’s investment stability
Misguided branch of British Medical Association rejects UK’s Supreme Court decision that “woman” is defined by biological sex
04 May 2025 1 Comment
in discrimination, gender, law and economics, property rights Tags: free speech, gender gap, political correctness, regressive left, sex discrimination
As I reported two weeks ago, the Supreme Court of the United Kingdom voted unanimously to affirm that the term “woman” under the legal Equality Act refers only to biological women and not trans-identified men. That means that a biological male holding a gender reassignment certificate would not have the same legal status as a […]
Misguided branch of British Medical Association rejects UK’s Supreme Court decision that “woman” is defined by biological sex
Trump Admin Sues to Block Blue States From Taking Fossil Fuel Companies To Court Over Climate Change
02 May 2025 Leave a comment
in economics of bureaucracy, economics of regulation, energy economics, environmental economics, global warming, income redistribution, law and economics, politics - USA, property rights, Public Choice, rentseeking Tags: climate activists, nuisance suits
The Trump administration filed lawsuits Wednesday against Michigan and Hawaii in an attempt to block the states from seeking damages in court against fossil fuel companies for alleged environmental harm.
Trump Admin Sues to Block Blue States From Taking Fossil Fuel Companies To Court Over Climate Change
Housing affordability
01 May 2025 Leave a comment
in applied price theory, economics of regulation, income redistribution, law and economics, politics - New Zealand, property rights, Public Choice, rentseeking, urban economics Tags: housing affordability, land supply, zoning
Where Britain has gone
23 Apr 2025 Leave a comment
in discrimination, economics of crime, economics of education, gender, law and economics, liberalism, Marxist economics, politics - New Zealand, property rights, sports economics Tags: sex discrimination
Ele Ludemann writes – New Zealand First has introduced a Member’s Bill to define the biological definition of man and woman in law. . . . “This is not about being anti-anyone or anti-anything. This is about ensuring we as a country focus on the facts of biology and protect the term ‘woman’ in law”, says New Zealand First Leader […]
Where Britain has gone
Mantrums prove women rights needed
22 Apr 2025 Leave a comment
in discrimination, gender, law and economics, property rights Tags: free speech, gender gap, political correctness, regressive left, sex discrimination
The UK Supreme Court’s declaration that give women back their rights to dignity, privacy and safety have led to mantrums that prove why these rights are needed: Rejoice! For the They / Thems have risen. After being legally crucified by the Supreme Court last Wednesday, the trans faithful marched from Parliament Square in London yesterday […]
Mantrums prove women rights needed
From Refineries to Fiefdoms: Is Newsom Orchestrating a State Takeover of California’s Oil Industry?
22 Apr 2025 Leave a comment
in economics of bureaucracy, economics of climate change, economics of regulation, energy economics, environmental economics, environmentalism, global warming, industrial organisation, law and economics, liberalism, Marxist economics, politics - USA, property rights, Public Choice, survivor principle Tags: California, climate activists, regressive left
California’s refining capacity is collapsing—not because demand has disappeared, but because it is being deliberately dismantled by regulatory fiat. The recent announcement that Valero Energy will idle or shutter its Benicia refinery by 2026 isn’t just a business decision. It’s the calculated result of a hostile policy environment designed to punish traditional energy producers until they either leave the state or fall into government hands.
From Refineries to Fiefdoms: Is Newsom Orchestrating a State Takeover of California’s Oil Industry?
Against cultural equivalence
15 Apr 2025 1 Comment
in economic history, history of economic thought, law and economics, liberalism, libertarianism, Marxist economics, property rights Tags: Age of Enlightenment, The Great Enrichment
The assertion that all cultures are equal has become a widely accepted axiom in contemporary discourse, shaped significantly by well-intentioned efforts to foster global tolerance and respect. However, it is not only possible but necessary to challenge this view. While cultural relativism emphasizes understanding and tolerance, it need not extend to cultural equivalence. Indeed, an […]
Against cultural equivalence
NZ workplace safety experiment a breath of fresh air
12 Apr 2025 Leave a comment
in economics of regulation, health and safety, labour economics, law and economics, politics - New Zealand, property rights
Oliver Hartwich writes – One of the pleasures of my job as Executive Director of The New Zealand Initiative is hosting events with Ministers explaining their new policies to our members. Last week, we hosted Workplace Relations and Safety Minister Brooke van Velden at our annual retreat. I was impressed by the range of policies […]
NZ workplace safety experiment a breath of fresh air
Utopia, you are standing in it! 
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