Suppose Daniel, a singer, writes a song that becomes very popular. After listening to the song, Josh, another singer, performs it with his own band. How would you respond to Daniel’s complaints that Josh stole his song? If Josh makes money from performing the song, does Daniel deserve a fraction (or all) of Josh’s earnings? […]
In this quote Aristotle is providing insight to what economists would later call The Tragedy of the Commons. What is the Tragedy of the Commons? Professor Sean Mulholland lays it out below:
Milton the rancher lives downriver from a large chemical factory. In the past month, the chemical factory has been disposing of chemical waste in the river, which has flowed downstream and poisoned Milton’s cattle. Milton is also a libertarian-minded person and prefers to keep government out of his life and out of the lives of […]
From gaining the rights to vote and to own property to contemporary issues like wage gaps and slut shaming, feminism has been a topic of debate for decades. Some argue that the best way to give women equal rights and opportunities is to enact government policies which mandate the equal treatment of women, or affirmative […]
In this video Professor Deirdre McCloskey explains how property rights and economic freedom has resulted in a dramatic explosion in overall wealth. Why then do you think free markets and capitalist are derided so much in society? Let us know what you think in the comments!
The following blog post by Abigail Hall appeared on the Independent Institute’s blog on September 3rd, 2015. Below is an excerpt. Some people look at the conditions in Venezuela and point to oil prices as the source of many of its problems. The Venezuelan government, led by President Nicolás Maduro, blames opposition leaders for the […]