Production Theory
The Piracy Paradox
My post Knock It Off discusses Jacob Sullum’s Reason article about knockoffs
Giant Food Companies Welcome the Regulatory State
“It’s in our interest to have a strong FDA,” said GMA (Grocery Manufacturers Association) President Cal Dooley, a for
The Truth About Labor Day
Labor Day is supposed to honor all American workers. And every year, union Labor Day rhetoric does just that.
Breaking Bad Habits A Century Later
Paging through The Last Knight, Guido Hülsmann summarizes the
How Many Traders Can You Fit into a Model?
What, then, can be done with economic theory whose models resemble jokes about how many elephants can be fit into a refrigerator? And how, given the overrepresentation of often indecipherable mathematical symbolism, is one to distinguish good economics from bad?
Thomas Friedman on Addicted to Oil
I recently saw Thomas Friedman’s “Addicted to Oil” documentary on YouTube.
Production Theory Quote of the Day
Production functions aren’t given. They have to be discovered.