The theory is that free markets work to create efficiency as a result of competition. There is a need to produce the best product at the lowest cost because other companies will be doing the same. Some economists posit that regulation of industries harms the markets by limiting the activities a company can undertake to [...]
The US Government regularly awards lucrative contracts to do things the Government is unable to do, such as acquire goods and services for the various branches of our military. Unfortunately, often these contracts turn into expensive boondoggles with vast profits being made by private companies while the services are delivered late, over cost or not [...]
Joe touched on an issue in his post on our health care system that I’d like to expand on. There is a libertarian viewpoint, endorsed by many Republicans, that private enterprises tend to be more efficient than publicly operated ones. These folks are correct while also being very very wrong.
Businesses in a free market are [...]
There are plenty of signs that the dollar is in trouble and as they go, cocaine smugglers ditching the Dollar in favor of the Euro is probably one that will have minimal impact. Still, the drug market is economically a fairly pure free market and as such may have some value as a predictor of [...]