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Sometimes in your life, you meet people who alter your life’s course, who shape your life, or change your course in some way.  Certainly, your parents do alot to set the general direction, or more importantly, teach you how to sail in the first place, how to manage rough and calm seas alike.  I came […]

Here is a great discussion of how Bitcoin and other new “cryptocurrencies” work.  The source here, The New Palgrave Dictionary of Economics, is a well-respected source. http://www.dictionaryofeconomics.com/article?id=pde2014_C000625 -MC

This post was written by my long-time friend and graduate school classmate and recently retired professor of economics from McNeese, Dr. Mike Kurth.  This article appeared in Lagniappe, a Lake Charles magazine.  I have his permission to post. Democracy may be a great political system, but it is not perfect.  One of its flaws is what […]

Have you notice how many of Atlantic City’s casinos have closed down?  At the beginning of this year, there were 12 casinos operating in Atlantic City.  Now, there are only 8 with the Trump Taj Mahal in trouble and everyone thinking it will close down in November. Trump Plaza was the fourth casino to be […]

Monday morning, in the wee wee hours, the Nobel Prize in economics will be announced.  Like it is in other disciplines, the Nobel is a big deal.  It is such a big deal that there have been betting markets on who will win.  Groups of economics, for instance, every year this time, have discussions or […]

In the headline here, I am not saying that people do not cause droughts, because some droughts somewhere might be caused by man-made climate change.  That could be.   The point here is simply that droughts do not cause the shortages.  We will get to this point later. For now, let us understand that since there […]

Take a look at this article from the Wall Street Journal about empty seats in student sections at college football games.  What you will see is that the “law of demand” is still in effect.  Now, if you don’t know what the law of demand is, it is a simple and fundamental idea in economics, […]

If you haven’t heard, Burger King is in the process of merging with a Canadian coffee and donut chain, Tim Hortons, so that they can move their corporate headquarters to Canada in what appears to be an effort to cut their tax burden.  You can read about it here in the L.A. Times.  But what […]

In 1973, David Friedman published an interesting book, The Machinery of Freedom, largely a compilation of essays concerning how anarcho-capitalism can work.  One of his essays is on how mass transit can be produced privately and that the infrastructure for it is largely in place.  Recently, two companies have started operating worldwide, Uber and Lyft, […]

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