BEGINNER

Economies of Scale

In many industries, as output increases, the average cost of each unit produced falls. One reason is that overheads and other fixed costs can be spread over more units of output. 

 

Roger Garrison - Macroeconomics of Capital

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As long as it's peaceful, shop wherever you like. That includes buying local, "shopping small," or buying materials and making your own gifts. But please: don't feel guilty about holiday shopping at a big box. A lot of people are selling fallacious thinking. Events like "Shop Small Saturday" can be just another form of rent seeking.

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October 2014

Heavily-armed police and their supporters will tell you they need all those armored trucks and heavy guns. It's a dangerous job, not least because Americans have so many guns. But the numbers just don't support these claims: Policing is safer than ever--and it's safer than a lot of common jobs by comparison. Daniel Bier has the analysis. Plus, Iain Murray and Wendy McElroy look at how the Feds are recruiting more and more Americans to do their policework for them.
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