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Economics
Markets, prices, money, enterprise, competition, and the effects of economic intervention.
260 published articles01
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What Is a Market Economy? Prices, Property, and Competition
A market economy coordinates decentralized decisions through prices, property, contracts, and competition under general rules.
fundamentalsPrice Mechanism: What It Is and How It Coordinates Decisions
The price mechanism coordinates decentralized decisions by turning changes in supply and demand into signals and incentives for consumers and producers.
fundamentalsWhat Inflation Is, How It Is Measured, and Why It Matters
Inflation is a general increase in prices over time. Understanding how it is measured helps distinguish it from a one-off price jump and shows why stable money matters.
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Markets & prices
Price Elasticity of Supply: What It Measures and How to Calculate It
fundamentalsPrice Elasticity of Demand: What It Measures and How to Interpret It
fundamentalsSocial Cooperation: What It Is and How We Coordinate Different Projects
fundamentalsDiminishing Marginal Returns: What They Are and How They Work
Money & inflation
Banking & credit
Enterprise & incentives
Competition
Digital Interoperability: What It Is, How It Works, and What Limits It Needs
fundamentalsCompetitive Neutrality: Competing on Merit, Not Privilege
fundamentalsMonopsony: What It Is, How It Works, and How It Differs from Monopoly
fundamentalsNetwork Effects: What They Are, How They Work, and Why They Matter
International trade
International Investment Position: What It Measures and How to Read It
fundamentalsFinancial Account: What It Records and How to Interpret It
fundamentalsCurrent Account: What It Means in Economics and How It Differs From a Bank Account
fundamentalsWhat Is the Balance of Payments and How Is It Interpreted?
Regulation & intervention
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Related learning
Selected analysis
Fiat money: what it is and the critique from a liberal-libertarian perspective
What fiat money is, how the modern monetary system works and what the liberal-libertarian critique of the state monopoly over money looks like.
analysisAthens vs Sparta: two models of society, economy, culture and power
Athens and Sparta were rival models of the polis: one more commercial and deliberative, the other more militarised, agrarian and disciplinary.
analysisRichard Cobden, the Corn Laws and the free-trade turn between Britain and France
Cobden helped bring down the Corn Laws and later became linked to the treaty that redefined trade between Britain and France.
Thinkers & works
Hayek and spontaneous order: what the idea means and why it matters
Spontaneous order explains, in Hayek, how a free society coordinates dispersed knowledge under general rules, without a central plan dictating each person's ends.
authorsHayek and Dispersed Knowledge: What It Means and Why It Matters
A clear explanation of Hayek's thesis on dispersed knowledge, the price system, and the limits of central planning.
authorsDavid Ricardo: who he was and why he matters in classical economics
David Ricardo was one of the great classical political economists. His work organized debates about trade, rent, value, and distribution that still matter.