Anti-Dismal

Recent newspaper reports tell us that as from January 3, imported used cars made before 1998 will in effect be banned, unless they meet emis...

In Foreign Policy Russ Roberts attempts to explain, in around 1000 words, why we trade . He tries to explain the relative importance of imp...

More on "Kennedy on Smith on the Corporation". Mark Hodak responds to Kennedy and Kennedy responds to Hodak . The debate between...

Gavin Kennedy continues to rightly find fault with peoples use of the Smith's invisible hand metaphor. But this time he writes "Th...

Peter Klein at the most interesting blog, Organizations and Markets is writing on the nonprofit firm. What is their objective function? How...

Every first or second year microeconomics text book has a chapter on the "theory of the firm" which doesn't make sense since t...

Eric Crampton gave an excellent speech to the Christchurch anti Electoral Finance Bill rally yesterday. He took a look at the bill from the...

Gavin Kennedy blogs on Adams Smith's view of joint stock companies . Kennedy puts things in context by pointing out that Smith’s criti...

It has been pointed out in that asymmetric information can create rather than destroy markets. But we can push the argument further and cons...

From first year on, economics students are told that asymmetric information can cause markets to fail. Akerlof's famous example of the u...