Table of content “But The Experts™ think that price deflation is bad!” The inflation and deflation terms have been revised by the Keynesian revolution to sow confusion “Price Inflation” vs “Price Deflation” corresponds to “Impoverishment” vs “Enrichment”, by definition Why price deflation is just unambigiously good; 1$ for 1 year’s worth of food as an implication of high durable non-price-fixing price deflation caused by increased efficiency in production and in distribution / elaborations on “abundance-induced price deflation” “But […]

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Sophia Bagley and Ryan Bourne This year kicks off with minimum wage hikes across 21 states. Economists have long documented that while minimum wage increases often boost wages for those who remain employed, there are no free lunches. Extensive research shows minimum wage increases to high levels tend to hurt new and low-skilled workers as businesses respond by cutting hours or hiring opportunities. , Moreover, newer research has found that businesses may use other margins of adjustment to […]

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Daniel Raisbeck In November 1881, Juan José Dardo Rocha, governor of the Province of Buenos Aires, passed a decree that forbade the use of a widely used torture device called the cepo. The Cambridge Dictionary defines a cepo thus: “formerly a wooden frame in which a criminal was fastened as a punishment.” The Spanish Royal Academy Dictionary goes into greater detail: Cepo: An instrument made of two thick pieces of wood, which when joined together form round holes in the middle, in […]

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