Month: December 2024

Employing the Labor Theory of Value, Marx claimed that entrepreneurial profits arise from exploitation of workers. In reality, entrepreneurs earn profits when they correctly gauge markets. Exploitation has nothing to do with it.

Original article: Entrepreneurial Profit Follows Good Decisions, Not Exploitation

Progressives blame the free market for insulin prices and want to impose price controls. But, government regulation is to blame. 

Original article: How the Government Created Exorbitant Insulin Prices

Historical revisionism is nothing new, and recent attempts to label an “antiracist” approach to history have wrongly been called “revisionist.” To better understand revisionism, one must first be grounded in reality, then apply reality-based thought to studying the past.

Original article: Historical Revisionism: What It Is and What It Is Not

Birkin bags are pricey and the producer restricts its potential buyers. Unfortunately, disgruntled customers who don’t want to follow the company’s rules are now appealing to US antitrust law.

Original article: Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”

Wage differences between men and women often are automatically attributed to sex discrimination against women. However, as research has shown time and again, other factors are at work. 

Original article: Discrimination and Opportunities for Women

Buchanan and Tullock‘s The Calculus of Consent influentially applies economic ideas to politics, focusing on methodological individual. However, there are a few pitfalls about which readers should be aware.

Original article: What Is Consent?