All Posts Tagged With: "supply and demand"
Who’s Afraid of Prosperity?
Should we worry that the people of China, India, and other undeveloped countries are getting richer? Apparently so, according to the newspapers and the “experts” they quote. They don’t come right out and say that global prosperity is bad for us. Instead they say, as the New York Times recently said, “As development rolls across [...]
1Mar2008 | John Stossel | 0 comments | ContinuedThe Anatomy of Economic Advice, Part II
How can positive science (consisting entirely of “is” statements) be translated into “ought” statements within the framework of economic understanding? In the first part of this series we drew attention to some of the paradoxes surrounding economic advice.
1Sep2006 | Israel M. Kirzner | 0 comments | ContinuedNationalized Health Care Will Cut Costs? It Just Ain’t So!
A group called Physicians for a National Health Program (PNHP) is promoting a government insurance plan to cover all Americans. In an August 13, 2003, Los Angeles Times report, the group claimed that their “single payer” plan would eliminate $200 billion a year in “administrative, marketing and other private-industry expenses.” This would save enough “to provide [...]
1Jan2004 | Gene Callahan and Robert Murphy | 15 comments | ContinuedToward an Austrian Critique of Governmental Economic Policy
Israel Kirzner is a professor of economics at New York University. This is the fourth (and last) of a series of articles laying out some foundational elements of modern Austrian economics.
In preceding articles we outlined the way in which Austrian economists understand the entrepreneurial competitive market process that is responsible for the law of supply [...]
The Market for Space in the Market
Gary Galles is a professor of economics at Pepperdine University in Malibu, Calif.
Slotting fees—payments by producers for space on retailers’ shelves—are under attack. According to Senator Christopher “Kit” Bond of Missouri, chairman of the Senate Committee on Small Business, which held hearings last fall, the practice “threatens competition, jobs and likely drives up the cost [...]
Entrepreneurial Discovery and the Law of Supply and Demand
Israel Kirzner is a professor of economics at New York University and author of The Meaning of Market Process. This is the second in a series of articles laying out some foundational elements of modern Austrian economics. The third article is here.
Last month we promised to explain how Austrian economics presents its understanding of the [...]
1Feb2000 | Israel M. Kirzner | 1 comment | ContinuedThe Law of Supply and Demand
Israel Kirzner is a emeritus professor of economics at New York University and author of The Meaning of Market Process. This is the first in a series of articles laying out some foundational elements of modern Austrian economics. The second article is here.
The theory of supply and demand is recognized almost universally as the first [...]
1Jan2000 | Israel M. Kirzner | 3 comments | ContinuedThe First Law of Economics
Mr. Reinach is a financial consultant, formerly a member of a New York Stock Exchange firm.
The economic facts of life are many. But the grandfather of them all is the law of demand and supply. If this one law alone were thoroughly understood, it is highly improbable that government interference in the market place [...]
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The End of Prosperity: How Higher Taxes Will Doom the Economy–If We Let it Happen
By Arthur B. Laffer, Stephen Moore, and Peter J. Tanous
