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#Intellectualproperty--patents, copyrights, and other government-granted and -enforced monopoly privileges--gets a lot of knee-jerk support. While people invent plenty of arguments in favor, they are, unfortunately, often based in economic

What's a telltale sign of economic illiteracy? I'm starting to believe the worst is the claim that market leads to monopoly and the accumulation of wealth in a few hands.

Here's a clarifying video arguing the labor theory of value (#LTV) is correct. It is so, we're told, because it is useful for explaining exploitation (an assertion, btw). Then its

Economics is primarily a way of thinking about the world that uncovers the true mechanisms and processes behind, and helps us understand, what we can all observe. This is a

Advanced #economics education is in a terrible, sorry state. What is taught is not actual economics, which used to be (and properly is) the economic way of thinking, but almost

The power and problem of sound economic thinking is the fact that the economy, on the face of it, seems to work in one way but actually works in another.

Like all heavily regulated (protected) industries, #highered is ripe for disruption. But #startups have failed to challenge #universities because #entrepreneurs are, simply put, doing it wrong. They have focused on

There is severe confusion about the meaning of #economicgrowth. Many seem to mistakenly think that it has to do with #GDP or producing stuff. It does not. Economic growth means

Peer review is an imperfect tool, and should not be treated as a Swiss army knife (always applicable). It has its uses where it works and adds value, but there

#Economics has lost its way and made the study both impotent and of lacking relevance. It is easy to see how and why if we first recognize that proper economic

Much of #economicpolicy aims to 'fight' #unemployment. This is entirely unnecessary, because there is no such thing as lasting involuntary unemployment. This is unfortunately little understood today, but it is

Many call for 'pausing' the #economy during the #pandemic, and then, presumably, 'press play' again when it's safe to do so. But this fundamentally misunderstands what an economy is. The