What Do Prices “Know” That You Don’t?
According to Prof. Michael Munger, prices (as in, the price of a carton of milk, or a new car) are akin to magic. Prices "magically" convert countless pieces... Learn more
Is There Income Mobility in America?
We often hear that the rich are getting richer and the poor are getting poorer. While a surface-level examination of U.S. households by quintile from 1967 to 2009 would... Learn more
Externalities: When Is a Potato Chip Not Just a Potato Chip?
An "externality" occurs when a transaction between two people affects a third person without that person’s permission. Professor Michael Munger... Learn more
What’s Right about Social Justice?
What if libertarians and classical liberals were wrong and the free-market system actually did make the rich richer and the poor poorer? Would that change their support... Learn more
Why Is Higher Education So Expensive?
College tuition costs have gone up 945 percent since 1980. The increase in tuition places a heavy burden on young people and their families. What has made college... Learn more
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