All Posts Tagged With: "market cooperation"

Spreading the Work to Create More Jobs

Last month I emphasized that job creation is not a sensible objective for economic policy. The purpose of economic activity is not to do work for its own sake. What’s the point of creating jobs to produce goods or services that consumers don’t want as much as other things that could have been produced? Yet there is a widespread view that having government create more jobs is the best way to promote economic progress. Wrong.

1Feb2000 | Dwight R. Lee | 0 comments | Continued

Private Property and Opportunity Costs

In three previous columns I discussed opportunity cost and the importance of this concept to understanding economics. We have considered the advantage the market has over government at incorporating opportunity costs into the calculus of decision-makers. Markets promote the general interest by revealing costs while governments commonly favor special interest by concealing those costs. In [...]

1Jun1999 | Dwight R. Lee | 0 comments | Continued

The Market for Honesty

The recurring theme of all my columns has been that economics is a study of how people cooperate with each other and that market economies succeed because of the incredible amount of cooperation they promote. Market cooperation, like all cooperation, depends on a high level of honesty. People who cannot trust each other cannot cooperate [...]

1Feb1999 | Dwight R. Lee | 0 comments | Continued

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