Claims that fast fashion utilises too many resources and exploits the third world crumble in the face of basic economics. One industry that has recently come under attack from critics of the free ent

Democracy is in danger? No. The democracy of capitalism is. Democracy is in danger! Or at least that’s what politicians and pundits would have us believe. While this rhetoric is hyperbolic (w

A guide to Frédéric Bastiat’s timeless lesson What can we learn from a broken window? Frédéric Bastiat taught the most important lesson in economics through the story of a young hoo

Can economists predict the future? Hardly. Economists predict the future course of economic events to show we have a sense of humour. If we could do so accurately, we’d all be very rich,

Economics may offer a clue as to why not one state is mandating vaccination to attend school in the 2022-2023 school year, even though many government officials support coercive vaccination policies.

Sound economic thinking is vital for a prosperous future  “Economics is the study of human action - the choices people make in a world of scarcity. Scarcity means that people have unlimi

Proponents of tariffs often say “free trade” is impossible because other countries would never agree to it, but that view misses the point. “Free traders are trapped in a public policy version

All sorts of shortages are now popping up in the US economy. At the head of the list is undoubtedly infant formula, but there are literally dozens of other items in short supply. There are so many of

One of the core ideas of Marxist economic theory is the notion that business owners exploit the workers, that is, they profit off the work of the workers. The reasoning is that the things produced by

The price of electric vehicles contains much of the answer If you’ve been feeling some pain at the pump in recent weeks, you’re not alone. Gas prices are up around the world, and in the US they r