Scarcity

The Science Fiction of Scarcity

Andy Weir’s novel The Martian explores the limits of our ability to survive without the division of labor.

- October 05, 2015

No, 48 Million Americans Are Not Going Hungry

The USDA's study on "food insecurity" is calculated to mislead people about the scope of malnutrition. 

- September 10, 2015

Hillary Staffers Can't Afford New York's Government-Controlled Housing Market

Progressives have made their bed, but they can't afford to lie in it. 

- June 29, 2015

How Moms Both Challenge and Confirm Standard Economic Theory

Would we all make better decisions if moms thought more about economics and economists thought more about moms?

- June 18, 2015

Carl Menger and the Austrian School of Economics

 The work of Carl Menger and his friends has become the foundation of the entire modern science of economics.

- June 03, 2015

How Gangs Keep You Safe

In prisons, gangs rule by supplying the order, protection, and dispute resolution that the underworld and black market demand. 

- June 01, 2015

How Government Turned Baltimore into Pottersville

Trusting federal housing subsidies to help save the city is the ultimate triumph of hope over experience. 

- May 27, 2015

Who Ignores the Principle of Scarcity?

In everyday life, it’s usually impossible to ignore the existence of scarcity. But politicians and progressives have made a cottage industry out of wishing scarcity away.

- May 26, 2015

Is Mad Max the End of Freedom?

Thank you, freedom and markets, for rescuing us all from the Mad Max world.

- May 21, 2015

Fantasy Bookstore Fights Fantasy Economics

Wage controls threaten small, specialty, and independent businesses most. 

- May 15, 2015

Progress and Poverty, Then and Now

Henry George, despite his confused economics and infamous land tax, was an eloquent and passionate advocate of the free society.

- May 08, 2015

Blurred Lines: When Guns Become Speech

Government is an analog institution in a digital world.

- May 08, 2015

How Does Paris Get Fed?

Frédéric Bastiat, the great 19th-century economic journalist, famously asked, “How does Paris get fed?” In a nutshell, I think that’s the central question of economics.

- April 02, 2015

Are Markets Myopic?

Markets contain sophisticated mechanisms for rewarding long-term stewardship; democratic political institutions encourage extremely short-term thinking.

- March 11, 2015

#47 – “The Solution to Overpopulation Is Population Control”

There is absolutely no relationship between high populations and poverty.

- March 06, 2015

Cinching Our Belts

Not having enough money for all the things you want isn’t a crisis. It’s a simple fact of living in the world.

- January 15, 2015

Like a Fly in Amber

For 70 years, The Freeman has been trying to tell the world about the pernicious effects of rent control. Intermittently, fiction writers have joined in. Will this policy always keep cities trapped in stasis?

- November 20, 2014

The Case Against Rent Control

If the goal is to provide affordable housing to lower-income tenants, rent control is a horrible policy.

- November 12, 2014

Economics in One Lesson

"No other modern book from which the intelligent layman can learn so much about the basic truths of economics in so short a time." ~ F.A. Hayek

- September 22, 2014

Running Out of Agricultural Land

Fear that we are running out of important resources like agricultural land is perpetual, but in most cases, this fear is baseless. In this podcast, Dwight Lee explains the role of property rights in preventing the depletion of resources. (8:48 minutes)

- September 26, 2013

Opportunities and Costs

In this podcast, Dwight Lee explains that, because of scarcity, every time we do one thing we necessarily have to forgo doing something else desirable. So there is an opportunity cost to everything we do, and that cost is expressed in terms of the most valuable alternative that is sacrificed. (8:45 minutes)

 

- September 26, 2013

Outsourcing Is Bad for the Economy?

Politicians love blaming economic troubles on outsourcing. But outsourcing is fundamental to the creation of wealth—and it happens constantly, with nearly everything we buy, explains Tyler Watts.

- October 18, 2012

The Snow Plowers’ Petition

Looking for the unseen effects of economic policy is the beginning of wisdom.

- February 09, 2012

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