As pathogens develop and destroy crops, supply falls and prices rise, all else equal. Such factors, however, are not the only relevant factors, some of which might lower prices.
Category: Economics
On the Mercantilist and Monarchial Origins of the Concept of the ‘Balance of Trade’
As Adam Smith explained so brilliantly, if the goal of economic policy is – as it should be – the achievement of prosperity as great as possible for ordinary people, mercantilism fails. It impoverishes ordinary people rather than enriches them.
Norway’s Wealth Tax Is Backfiring. Are Americans Paying Attention?
Norwegian lawmakers forgot this simple lesson, and now they can do little but watch as the wealth creators in their country depart, taking with them their capital, ingenuity, and taxable income.
A Four Point Plan for Every City
If you agree that local politics should be about protecting others’ liberty to become the people they want to become rather than giving you the tools to turn them into the people you want them to become, what should your city do? Here are four suggestions.
Study: Banning Investors From Buying Homes Leads to Higher Rents, More Gentrification
Home prices were unaffected by a ban on buy-to-rent housing in the Netherlands, but more affordable rental housing disappeared.
Policy makers would do better to look for ways to expand housing supply through deregulation of construction and mortgage finance than passing laws restricting who’s allowed to buy a house.
Thank Dutch Merchants, Not a Strong State, for Capitalism
Pioneers of Capitalism chronicles centuries of bottom-up economic evolution in the Netherlands.
https://reason.com/2023/06/17/how-the-dutch-became-capitalists/
In San Francisco, Government Failure Erases Billions of Dollars of Commercial Real Estate Valuations
San Francisco and neighboring counties were the first to impose sweeping stay‐at‐home orders at the beginning of the COVID pandemic in the US. More importantly, San Francisco and its neighbors were slower than most other population centers to relax COVID-19 restrictions.
Let Teens Work
Teenagers who work part-time see lifelong benefits.
We need to stop treating teenagers as inherently fragile, or they’ll become that way. Real-world exposure to the challenge of getting paid to do things that other people value will benefit them for the rest of their lives.
The Significance of Botched Industrial Revolutions
The Supreme Court’s 150‐year Mistake
Though the Supreme Court has come a long way in protecting equality before the law, it still refuses to protect the right to earn a living
https://www.cato.org/blog/supreme-courts-150-year-mistake#readmore