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We Sometimes Create Spillovers
Not every cost or benefit stays between the buyer and seller. When our actions spill over onto others, understanding why it happens matters.
May 25
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We Are Better When Exchange Is Voluntary
Voluntary exchange creates value because both sides choose to participate. When decisions are made for us we lose the information and feedback.
May 18
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We Need Good Rules More Than Good Rulers
A successful economy depends more on good rules than wise overseers. Clear, consistent rules allow people to cooperate, and plan; even when no one is in…
May 11
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We Can't Calculate Without Prices
One Takeaway: Without prices that reflect reality, no one, not even the smartest, most informed planner, can know how best to use scarce resources.
May 4
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We Don't (and Shouldn't) Control What Others Own
Property rights make exchange, investment, and cooperation possible. Without them, markets can’t function and progress stalls.
Apr 27
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We Each Know Different Things (And No One Knows Everything)
No one person has all the knowledge in the world. The best systems are those that help us use what we know to make better decisions.
Apr 20
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We Need More Than Headlines
Statistics are helpful summaries, but they offer limited explanations of how the economy is doing. It's better to focus on principles vs managing…
Apr 13
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We Can’t Outsmart The System
The economy runs on signals, not switches. The more we try to control outcomes, the more we distort signals that help people make good decisions.
Apr 6
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We Learn What Works By Trying
Entrepreneurs move the economy forward. They don’t follow a map. But they do spot new paths no one else may see and take a chance to walk them.
Mar 30
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We Are Uncertain If We Will Profit
Markets work because people try things. Sometimes they win, sometimes they lose. But, every outcome reveals what’s valuable and what isn’t.
Mar 23
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We Have To Pay For Time
Interest rates are the reward we get for delaying consumption now, and the price we pay to borrow from the future.
Mar 16
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We Must Invest In The Right Tools For The Job
Capital goods aren’t interchangeable. Growth depends not just on how much capital we have, but whether we’re using the right tools for the job.
Mar 9
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