Dive into the archives.
- Institutions
Institutions, Institutional Change and Economic Performance by Doug North. Read it; it will likely change the way you think about why some nations manage to become rich and others stay poor, despite the billions of dollars being thrown at them annually. More France photos will come soon, I promise. I am through 1.5/2 papers, so [...]
- Day 354 – Shopping as a Discovery Process
While I was out finishing my Christmas shopping on Saturday, I couldn’t help but think a little bit about economics. I know I am strange, but it is what I am majoring in and what I’ve been studying these past three semesters at Hillsdale, and I am not very successful at turning my mind off [...]
- Day 325 – Two Types of Fair Trade
I realized tonight that there are two different, commonly accepted meanings of “Fair Trade,” and only one meaning I support. The first type focuses on paying producers a higher price for goods, typically raw materials, raw food, etc. (This is the meaning I am against.) The second type is against products that use slavery anywhere [...]
- Day 282 – Economizing on Brain Power
I had an interesting concept brought up to me today while I was discussing the difference between rationality and reason with Professor Lea. To try to understand the difference, we did a thought experiment about making choices. When a person makes a choice, he or she weighs the expected utility (broadly defined) of each unit, [...]
- Day 279 – Aggregates
Today’s post is short. After a meeting of the Classical Liberal Organization tonight in which a few people confused this, I feel the need to say something about this: Aggregates don’t act. Aggregates don’t make choices, laws, invade other countries, or have rights. Only individuals which make up those aggregates make choices, act, have rights, [...]
- Day 272 – Happy Birthday, Mises!
Today is the birthday of the great Austrian economist, Ludwig von Mises. Read reflections on Mises at ThinkMarkets and The Austrian Economists. Unfortunately, I didn’t have time to make a celebratory visit to the Mises Room in Hillsdale College’s Mossey Library, which is home to Mises’ personal library. I will have to do that tomorrow. [...]
