Utopia, you are standing in it!

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

It does appear  too many that rising costs push up prices, but this impression is an illusion caused by the way inventories delay the effect of money supply increases on retail prices. When increased money growth causes total spending to rise more quickly, sales of particular businesses will increase. But sales fluctuate from day to …

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The desire to collude and thereby to raise prices must be distinguished from the ability to do so. Not only is it difficult for rival companies to agree on the production cuts each must make in order to force up price, but it is difficult to prevent each company from undercutting the others in order …

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If we do not have all of every­thing we want, there is a problem of rationing. This is the major corollary of scarcity. An individ­ual cannot escape the requirement for "economizing." How shall he disburse his limited income? The very impersonal­ity of the pricing mechanism, which the advocate of freedom should consider an asset, does …

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The more valuable the worker, the higher the bid for his services. The high wage offer reflects rational concern of employers for their well-being, not a delicate sense of altruism or fairness. If you are technologically efficient in performing services which the community values highly, and if relatively few other workers are so productive, you …

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Price controls prevent higher costs to consumers; reducing unemployment requires creating more jobs; larger incomes for some people require  smaller incomes for others; free, or low, tuition reduces costs to students; unemployment is wasteful; stockbrokers and investment advisors predict better than throwing a dart at a list of stocks; international trade deficits are bad and …

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What is to happen to the erstwhile workers–commonly uneducated, poorly trained, illegally in a land foreign to them, with little experience and marketplace sophistication–who have had their livelihoods abolished? They had been surviving–even if meanly by civilized standards–in market competition by selling their limited services of low value at meager wages. Taking away those miserable …

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Books & Boots

reflections on books and art

Legal History Miscellany

Posts on the History of Law, Crime, and Justice

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Celebrating humanity's flourishing through the spread of capitalism and the rule of law

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Celebrating humanity's flourishing through the spread of capitalism and the rule of law

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Celebrating humanity's flourishing through the spread of capitalism and the rule of law

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