Posts Tagged ‘laissez-faire’

  • soccer ball

    Laissez-Faire: When Is It Okay to Do Nothing?

    May 19, 13 • 103 Views • Behavioral Economics, Government, Households, Regulation, Thinking EconomicallyNo Comments

    I suspect we have a “bias for action.” Imagine a soccer game that has gone into overtime. Each team has 5 penalty kicks. For several, remaining in the center of both posts, the goalie does not move. Statistically, her behavior is smart since the...

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    Econ Fun

    May 19, 11 • 115 Views • Economic Debates, Economic Humor, Economic Thinkers, GovernmentNo Comments

    The second Keynes/Hayek rap video, “The Fight of the Century” just arrived. Like the first one, it focuses on the never ending debate between economists who want more government and those who believe in less. In this Econtalk discussion, the...

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    Nantucket’s Traffic Lights

    Jul 4, 10 • 111 Views • Economic Thinkers, RegulationNo Comments

    Located 30 miles from Cape Cod, Massachusetts, the island of Nantucket has no traffic lights. Instead, drivers respond to stop signs, rotaries, and courtesy. More often than not, if a pedestrian, a walker, or a biker needs to cross the street, cars stop. When...