Perfect Cooperation

You may have learned in your introductory economics course that supply and demand are the results of perfect competition in the marketplace. We frequently discuss economics in terms of competition or lack thereof, but this rhetoric is misleading. 

Tax Burden Too High? Lower Income Taxes.

During North Dakota’s recent legislative session, several tax reforms were proposed and debated. Some passed...

Entrepreneurship and Ownership

When we hear the word entrepreneur, we often imagine someone with a cavalier personality who conquers a market...

Capitalism Mythbusters: Free markets destroy civil society.

This is the fourth entry in a multi-part series on Capitalism Mythbusters. 

It is becoming increasingly common for people to attribute the economic system of free exchange, also known as capitalism, with the erosion of community and civil society. 

The Threat of Tariffs

The national economy is robust and strong – with reports of four percent growth last quarter and low unemployment – but a global trade war could bring a halt to this economic prosperity.

Capitalism and Discrimination

"Discrimination is not done by villains. It's done by us."
- Vivienne Ming, theoretical neuroscientist, technologist and entrepreneur

A Q&A-style discussion about the relationship between capitalism and discrimination...

Capitalism Mythbusters: Free markets are bad for your health.

This is the third entry in a multi-part series on Capitalism Mythbusters. 

In this post, I examine the myth that free markets negatively impact your health.

Capitalism Mythbusters: Free markets lead to intolerance toward minorities.

This is the second entry in a multi-part series on Capitalism Mythbusters.

Malcolm X once said “You can’t have capitalism without racism” (Malcolm X Speaks, 1965). This straightforward quote...

Entrepreneurship in Organizations: Change from the Bottom Up

In a story about entrepreneurship, you might not expect the main character to be a military colonel. Common perception tends to see the entrepreneur as one who builds a firm, attempting to earn...

Regulatory Capture in American Banking

The 2008 housing crisis led to a record number of home foreclosures. In response, millions of Americans demanded accountability from financial markets. To some, the crisis served as proof of...

Capitalism Mythbusters: Introduction

In this series of blog posts, I will shed light on some of the most controversial myths about capitalism. I will look to data and research to discover which myths are bolstered and which myths are busted.

The Rise and Fall of the Gold Standard

Many people are familiar with the gold standard, but few understand it. The gold standard was the system whereby gold and claims to gold were used as money. For nations operating under the gold...

Technological Revolutions

By the time you finish reading this post, I hope to convince you that ‘technology’ refers to an especially broad range of phenomenon...

2017 Holiday Guide: The Perfect Gift for Everyone

With the holiday season in full swing, you may find yourself dealing with the impossible task of buying everyone the exact present they desire. Lucky for you, your friendly neighborhood economist is here...

Mises Meets Wittgenstein: Language Games and Value Creation

Ludwig von Mises argued all action is aimed at creating value for the man or woman that is acting. This postulate is the starting point of analysis, which Mises referred to as “the axiom of Human Action.”

Property Rights: Theft and Security

This is part four of a four-part series on private property rights.

“If history could teach us anything, it is that private property is inextricably linked with civilization,” said Ludwig von Mises.

Property Rights: Gifts and Inheritance

This is part three of a four-part series on private property rights.

“If history could teach us anything, it is that private property is inextricably linked with civilization,” said Ludwig von Mises.

Property Rights: Exchange and Disputes

This is part two of a four-part series on private property rights.

“If history could teach us anything, it is that private property is inextricably linked with civilization,” said Ludwig von Mises.

Property Rights: Establishing Ownership

This is part one of a four-part series on private property rights.

“If history could teach us anything, it is that private property is inextricably linked with civilization,” said Ludwig von Mises.

Is Economic Freedom the Secret to Happiness?

The scientific study of happiness and well-being is relatively young. The field got its start as philosophers sought to discover what it meant to live a meaningful and virtuous life.

The Private Sector's Rapid Response to Hurricane Harvey

Headlines in the wake of Hurricane Harvey have declared one disaster after another. News about the rising death toll, massive flooding, chemical plant explosions, lost power, and the cost of recovery have proliferated...

Fundamentals of Public Choice

Does a politician become more benevolent upon election? As humans, do we change our behaviors upon being endowed with the responsibility of the public’s trust?

What is an Institution: Part 2

This is Part 2 of a two-part series covering the definition, health, and evolution of institutions.

The Heath and Evolution of an Institution: Not all institutions are of equal quality...

What is an Institution: Part 1

This is Part 1 of a two-part series covering the definition, health, and evolution of institutions.

The word “institution” commonly appears in social science literature...

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