Bitcoin and the Cost Fallacy

This article was originally published in the Economic Forces newsletter. Price theory is about supply and demand. Why is the price of good

Price Ceilings of $0

In my previous two columns I reviewed the basic economics of price ceilings and price floors. In this column, the third in

The Corrective Contraction

Advanced estimates suggest real output declined for a second straight quarter in 2022, prompting many to debate whether we are in a

A Way Out

Politicians avoid talking about Social Security because they see no way to fix it without imposing a significant cost on workers, retirees,