The Real Trickle-Down Effect: Making “Luxuries” Affordable to Regular People

Most readers are familiar with the notion of the “trickle-down effect.” This caricature is usually employed by left-leaning economists to denounce tax cuts for the entrepreneurial class. Writing for the Washington Post, Christopher Ingraham tells readers that slashing tax rates for the wealthy fails to stimulate employment, though rich people become more affluent. Unfortunately, free market economists often respond by demonstrating that there is a positive link between low tax rates and economic growth. Although their efforts are commendable, such writers are employing the wrong strategy. Instead of showing that…

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Why Producer Prices (Like Lumber Prices) Are Rising Faster Than the CPI

“Homebuilding rebounded less than expected,” NBC reported recently, “as very expensive lumber and shortages of other materials continued to constrain builders’ ability to take advantage of an acute shortage of houses on the market.” Lumber isn’t the only material that has experienced significant price increases over the past year. The same NBC article notes that steel and copper prices are also hampering the housing market. The general pattern of price inflation is that higher-order goods—those furthest from the consumer in the production process—tend to react sooner and more significantly to…

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Direct Primary Care: Aligning Incentives in Healthcare

“Primary Care is about access, continuity, and responsibility.” A new world of medical entrepreneurship is growing. Concierge and cash-only practices, walk-in cash clinics, medical tourism, and cost-sharing plans are just a few of the ways free-market approaches are changing the landscape. Our expert speakers will discuss several of these developments, and more. Recorded in Salem, New Hampshire, on June 17, 2021. Source link

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Can Economics Save Medicine? | Mises Wire

[This article is excerpted from a talk given June 17, 2021, at the Mises Institute’s Medical Freedom Summit in Salem, New Hampshire.] Ladies and gentlemen, why are we here today? First, in a certain sense medicine in America is broken. Doctors and patients are unhappy, the quality of care deteriorates, and costs keep increasing. Even before covid, US life expectancy declined three years running. Even before covid, too many Americans were sick, depressed, fat, and unhappy with their physical and mental health. I wonder if we’ll ever have accurate data…

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