Tag: efficient

The Risk Paradox

In economics, the theory goes, actors can be risk loving, risk neutral, or risk averse. Most people, the theory continues, are risk averse. Insurance institutions are risk neutral and rarely you will encounter perhaps a gambling addict or some such

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Comparative Government Efficiency

This article discusses the fact that government is usually less efficient that the free market and estimates the inefficiency factor. We then correct a classic view of measuring cost to society of government intrusion into a free market by introducing the

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Healthcare Works in a Free Market

This article will argue that healthcare works just fine on a free market, in contrast to what many mainstream economists seem to think. Let’s start with an outside source. Peter Klein is a big name Austrian and he discusses this

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Nash Equilibrium and the Prisoners’ Dilemma

This article will introduce Nash Equilibrium and the Prisoners’ Dilemma. I will argue that prima facie these provide proof that empathetic markets can produce Nash-Superior equilibria. Let me start off by saying Khan Academy is super awesome. See their short

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Two Disruptive New Precedents in Higher Education

This article will cover two new trends in higher education which may disrupt the institution of higher education in the US and elsewhere. I cover education reform, as an institution not only as a public policy, quite often. In one

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My Thoughts on Raising Minimum Wage

A friend of mine, an intelligent one at that, recently posted on Facebook that he would raise minimum wage. He said he would do this because there are many poor people and their income rises very slowly. I didn’t even

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