Worried about its costs, Netflix has asked millions of customers to support so-called “net neutrality” policies to curtail the freedom of action of broadband companies like Comcast. Netflix, a huge suck of bandwidth, doesn’t want to have to make deals with ISPs like Comcast to deliver service to its customers.
One of the fashionable thought-killing words offered by the cliché-recycling movement is “sustainable.” In the common tongue, as spoken by many, many environmentalists, this term implies that we will run out of all our stuff pretty soon unless everybody on the planet (except maybe Al Gore) is put on a
Apparently, economics is hard. But some things are pretty straightforward. For example, both parties to a trade gain: it’s called “mutual benefit through exchange.” Another basic principle? Employers hire labor expecting productivity. Businesses don’t hire workers who can’t produce enough to more than cover their wages — and managers fire
Modern economics takes a long, circuitous route to the old wisdom of classical political economy: Laissez faire is best. This ideal of free markets was pretty clearly established by Adam Smith, J.B. Say, David Ricardo, and others long ago. Frédéric Bastiat explained it best in layman’s terms. But modern economic
A storm hits the east coast. Some homes are washed away. Others burn down. Millions lose power. Gasoline supplies are massively disrupted, even as mass transit is unusable for days. Obviously, post-Hurricane Sandy, emergency measures are called for. It’s crucial, for instance, that the disrupted and reduced supplies of gasoline
In which industries do prices and costs rise fastest? Those in which government is most involved. The process is no mystery. Regulate supply by limiting entry into the business — to “increase quality,” of course — will raise prices, as producers behave oligopolistically. Government does this with health care providers,