How capitalism actually works — explained plainly. No ideology. No cheerleading. No moralizing.
Headline CPI fell from 9.1% in June 2022 to 2.4% by late 2024 without the recession most macro models predicted. Jerome Powell's victory lap deserves qualifica…
Public goods — non-rival, non-excludable — are the category capitalism handles worst. National defense, basic research, atmospheric stability, lighthouses: all…
The 2020 California Proposition 22 vote, the UK Supreme Court's 2021 Uber ruling, and the EU's 2024 Platform Work Directive all turn on the same question: are …
Just-in-time manufacturing was a productivity miracle from the 1990s through 2019. The 2020-2022 pandemic, the 2021 Ever Given grounding, and the 2023-2024 Red…
Currency manipulation is when a country's central bank intervenes in FX markets to keep its currency artificially weak, boosting exports at trading partners' e…
The William Nordhaus carbon-price work, the Stern Review, the IPCC mitigation scenarios, and EPA's social cost of carbon all converge on the same uncomfortable…
George Stigler's 1971 'theory of economic regulation' argued that regulated industries acquire regulators rather than the other way around. The empirical recor…
Monopsony — market power on the buyer side — is the cleanest economic explanation for why minimum-wage increases haven't produced the unemployment the textbook…
US private-sector union density peaked at 35% in 1955 and is below 6% today. Standard economic models cannot explain the collapse — the productivity case for u…
Financialization is the process by which financial markets and motives become structurally dominant in the broader economy. Greta Krippner's work documents how…
Antitrust is the part of capitalist law that admits markets concentrate. The 1911 Standard Oil breakup, the 1982 AT&T consent decree, the 2001 Microsoft settle…
Textbook economics says wages equal marginal product. Real labor markets involve monopsony power, search frictions, union bargaining, minimum wages, and effici…