Category Archives: Economics

Size and freedom

I know this is old news, but… So, the latest rankings of countries by economic freedom┬áhave come out, and it looks like the US has dropped a bit. Based on 2009 data, the US has gone from sixth place to … Continue reading

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Russ did it first

It turns out that Russ Roberts had a post explaining the broken window fallacy just before I did! That guy is so smart. By the way, you ought to check out his podcast, EconTalk. Russ is a fair and careful … Continue reading

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The limits to libertarianism

Libertarians come in many stripes. You’ve got your Objectivists, gun-toters, hippies, Nozickians, anarcho-capitalists, and so many more. The above tend to base their libertarianism on some foundational principle, such as natural rights. But consider two other strains: Constitutionalists and economist-types. … Continue reading

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Lottery losers, raffle winners

Do you like money? Then don’t buy a lottery ticket. The total winnings will fall short of the total revenue from ticket sales (they must–otherwise, how could the government make money from the lottery?), which means buyers as a group … Continue reading

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Frank and Wanda, sunk costs and punishment

Consider my friends Frank and Wanda. Frank’s a frugal fellow. Wanda, on the other hand, is wasteful. Understandably, Frank and Wanda do not get along well. As their mutual friend, I decided to take them both to dinner to see … Continue reading

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