Price gouging is an important component of the market to ensure that a run on supply doesn't deplete supplies, leaving it in the hands of the first few people who happen to run to the store. It ensures that supply exists as long as possible so people can still get what they need. Sure it … Continue reading Price Gouging is Good and Necessary
Category: Economics
Render Unto Caesar
Matthew 22:15-22 is one of those "proof-texts" that opponents of Reformed Libertarianism like to throw at us from time to time. "Taxation is theft, you say? Well what about when Jesus said to Render Unto Caesar? Huh?" This tricky passage can be difficult to answer. What ARE we to make of this passage? Here's one … Continue reading Render Unto Caesar
Public Goods is Fatally Flawed
The supposed freeloader problem of "public goods" is fatally flawed. The argument goes that government is needed to provide public goods that have free access to everyone because when there's no way to exclude non-payers from using a good nobody will profit off of its production, and so nobody will have the incentive to produce … Continue reading Public Goods is Fatally Flawed