Showing posts with label supply. Show all posts
Showing posts with label supply. Show all posts

When Did The U.S. Repeal The Laws Of Supply & Demand?

by A. Barton Hinkle. Of soda taxes & minimum wage. Back in October, The New York Times reported that the law of supply and demand still works. "Yes, Soda Taxes Seem to Cut Soda Drinking," the newspaper told its readers, relating the results of Mexico's new tax on sugary beverages. Mexico's measure imposed a 10 percent tax on soft drinks, and so  ... MORE

Oregon Legislature Repeals Laws Of Supply & Demand

It is not likely to work out well.    Like the apocryphal story of the state legislature that passed a law dictating that pi equals 3, the Oregon state legislature has passed two laws that pretend the laws of supply & demand don’t exist. The difference is that, in reality, no state legislature ever did pass a law saying that pi equals 3, but Oregon’s      ... MORE

Walter E Williams: Minimum Wage Dishonesty

Higher prices mean less demand.  Michael Hiltzik, a columnist and Los Angeles Times reporter, wrote an article titled "Does a minimum wage raise hurt workers? Economists say: We don't know." Uncertain was his conclusion from a poll conducted by the Initiative on Global Markets, at the University of Chicago's Booth School of Business, of 42   ... MORE

As Prices Drop, Gold Sales Explode at US Mint

by Joshua Krause.   Something doesn't add up here. A little over two weeks ago, a source within the US Mint announced that sales of their silver eagles had grown to the point that the Mint was running out, and would have to suspend all orders for several weeks. This claim was later officially confirmed by the US Mint, and ZeroHedge noted how strange   ... MORE

Walter E Williams: Defense Against Demagogues

Economic ignorance used as a political tool. When gasoline sold at record prices, Sen. Bernie Sanders, I-Vt., said, "I think it's time to say to these people, 'Stop ripping off the American people.'" When the average price of regular gas was close to $4 a gallon, Sen. Chuck Schumer, D-N.Y., called for Congress to look into breaking up giant oil companies. ... MORE

Ed Feulner: Why Gasoline Prices Are Down

And how we can keep them that way.       If you’re like most Americans, you haven’t been questioning the welcome drop in gasoline prices. You just fill ‘er up and feel grateful that you’re spending less. Why has this remarkable drop come about? And what can we do to help keep prices lower? Some of it, unfortunately, is beyond our control.   ... MORE

Ronald Bailey: How to Slake California's Thirst

"Nature makes a drought, but Man makes a shortage."  That's the trenchant slogan that the Leiden University College water resource economist David Zetland uses to sum up how bureaucratic mismanagement of supply and demand misallocates water pervasively. California's current water crisis—exacerbated by a three-year   ... MORE

Keep Them Down, Keep Them Dependent

How to prevent the young and poor from succeeding.   Let’s face it. I’m not that young anymore. I’m also not poor anymore, and I live a comfortable middle-class American life. Most older, better off middle-classers like me got where we are through the dynamic market process. The trouble is, now that we’re doing pretty well, that same     ... MORE

Alyene Senger: ObamaCare's Impact On Doctors

More regulation, oversight and patients.     No class of American professionals will be more negatively impacted by the Patient Protection and Affordable Care Act (PPACA), commonly referred to as Obamacare, than physicians. Third-party payment arrangements are already compromising the independence and integrity of the medical   ... MORE

Andrew Langer: Free Markets Vs False Markets

Government puts shackles on producers.       One of the great benefits of free markets is that they are eminently adaptable, constantly changing to meet the forces of supply, demand, and price. They are, in many ways, like organisms or ecosystems, evolving over time to improve. As factors change, industries or firms meet those changes,      ... MORE

Thomas Sowell: Economics Vs. 'Need'

A labor shortage should lead to higher wages.     One of the most common arguments for allowing more immigration is that there is a "need" for foreign workers to do "jobs that Americans won't do," especially in agriculture. One of my most vivid memories of the late Armen Alchian, an internationally renowned economist at UCLA, involved a lunch ...  MORE

Brian Phillips: Abolish Public Schools

Make a move toward educational excellence.   In recent years, it has become increasingly popular to argue that government should be operated more like a business. As an example, a manifesto written by sixteen public school executives explains how to fix public schools: Let’s stop ignoring basic economic principles of supply and demand    ... MORE

Devin Brian: Price Gouging On Guns?

Where is the outrage? Every time there is a natural disaster of some sort, gas station owners are considered monstrous for raising prices to coincide with increased demand of their scarce resources. However, I have not heard anyone calling for the immediate lynching of those greedy gun shop owners who have doubled or even tripled prices on    ... MORE