FEE: Why Rhett Butler�s Weed Is So Strong

            by BK MARCUS             One of the main reasons I love economics�at least the Austrian or verbal-logical variety�is that it introduces an understanding of cause and effect in a world full of the buzz and hum of seemingly unconnected events.             Austrians don�t believe in the sort of prophecy that the ancient Greeks believed in: divining the future, whether by oracular or econometric means. But they do buy the sort of prophecy that the ancient Israelites believed in: a deeper sense of cause and effect, which allowed the prophet to say, �If you keep doing X, the result will be …

Continue Reading

Cafe Hayek: Jason Brennan on Michael Sandel on Queuing

            by DON BOUDREAUX             Over at Bleeding Heart Libertarians, Jason Brennan summarizes an analysis that he and Peter Jaworski will make in response to Michael Sandel's argument that (quoting Brennan�s interpretation of Sandel�s claim) queuing distributes goods equally, while markets distribute according to ability and willingness to pay. Since people have unequal ability to pay, markets distribute goods unequally.  They are in that way unfair compared to queuing.             Jason does a nice job exposing some of the many flaws in Sandel�s argument that queuing is more egalitarian than are markets.  Here�s yet one additional problem with Sandel�s argument.  (Jason and …

Continue Reading