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free-market
Competition a forgotten remedy for monopoly
“Gym Now Stresses Cooperation, Not Competition,” blared a headline in the New York Times a decade ago. The story was about an elementary school where “confrontational” games, team sports, and elimination rounds were changed or scrapped so that differences between students’ athletic abilities would be minimized.
Perhaps this is fine for grade-school gym class, but it would [...]
What happened to the competition?
“Gym Now Stresses Cooperation, Not Competition,” blared a headline in the New York Times a decade ago. The story was about an elementary school where “confrontational” games, team sports, and elimination rounds were changed or scrapped so that differences between students’ athletic abilities would be minimized.
Perhaps this is fine for grade-school gym class, but it would [...]
Destructive Economic Myths
Wildly inaccurate statements from news commentators, financial analysts, politicians and even administration officials have most people believing that if Congress does not increase the debt limit in March, the U.S. government will default on its debt obligations, thus ending the government‘s ability to borrow. Nonsense.
If you make $5,000 per month, have a mortgage payment of [...]
When politicians understood balanced budget’s value
Owing to where most Americans trace their ancestry from, we tend to know more European history than the history of our immediate neighbors to the north and south, Canada and Mexico. We can name famous entrepreneurs and political leaders from across the sea but rarely one from right next door.
Last May in a casual dinner [...]
Good Economists, Bad Economists And Supermarkets
Good economists are seldom popular with the political class. This is not unique to democratic systems; dictators like good economists even less.
Why?
As a rule, politics doesn’t educate. It obfuscates, pontificates, and prevaricates. It often seeks to advance the interests of the few at the expense of the many. It is a playground for the shortsighted [...]
Greece echoes Rome
It’s been nearly a decade since film director Ridley Scott’s Oscar-winning epic, “Gladiator” appeared in theatres to considerable acclaim in Europe and the U.S. The movie is partly fictional, but the part that rings true should serve as a reminder of some important lessons from one of history’s greatest civilizations. Modern-day Greece, with its massive, [...]
Competition, Monopoly and Regulation
How does one respond to the idea that government needs to regulate monopolies? More specifically, in a free, capitalist economy, is there any time when government would intervene “for the consumer’s good”?
Unfortunately the free market has been tarred with a bad reputation as a facilitator of centralized power [...]
What is competition?
“Competition” is one of those terms whose definition everyone assumes he knows. Most people would say they like it and would welcome more of it, but they are usually more enthusiastic if it’s “the other guy” and not themselves who has to deal with it.
So what exactly is “competition?” I define it as “striving for [...]
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