Posts Tagged ‘market system’

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    Manufacturing and the Market System

    May 30, 12 • 209 Views • No Comments

    Adam Smith might look at recent increases in manufacturing and say, “The market works.” Here are some stories. One furniture manufacturer decided it could make consumers happier by moving back from China. Yes, it would mean paying a sander $10 an...  [read more]

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    Car Rentals and Cuban Houses

    Nov 11, 11 • 355 Views • No Comments

    Have you ever washed a rented car? Former Treasury Secretary Lawrence Summers tells us that, “In the history of the world,” no one has. For rental cars and Cuban houses, lack of ownership is the common denominator. When Fidel Castro took control...  [read more]

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    Government Failure or Market Failure?

    Sep 4, 11 • 250 Views • No Comments

    The illness? High unemployment and sluggish growth. The patient? The U.S. economy. And sometimes, according to Nobel Laureate Gary Becker, a stimulus pill just won’t work. In a WSJ opinion piece, Dr. Becker first explains that government misdiagnosed...  [read more]

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    Time Matters

    Aug 25, 11 • 244 Views • 1 Comment

    Faster people tend to live in wealthier nations. According to psychologist Robert Levine, cultures with faster walkers probably have more people, a cooler climate, a “vital economy” and they value individualism. Measuring “tempo” in 31...  [read more]

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    Chinese Basketball and Adam Smith

    Jul 21, 11 • 274 Views • No Comments

    It is called the “womb to tomb model.” Selected as young children because of their exceptional height, future Chinese basketball players are educated separately. Whereas traditional Chinese schools have few, if any, extracurricular activities,...  [read more]