Andrew Haines

ahaines@hillsdale.edu

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The Price Is Right

The Ongoing Folly of Just Price Theory

JULY 26, 2013 by ANDREW HAINES

Even if it adheres to the teaching of Thomas Aquinas, an argument in favor of minimum wage increases is an argument against free exchange.

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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