Libertarianism.org Guides

Baetjer illustrates the harmful effects of economic regulations and argues that we ought to instead prefer economic libe... Read more

Baetjer argues that the incentives inherent in market institutions outperform the incentives inherent in state instituti... Read more

The trial-and-error based profit and loss mechanism, says Baetjer, is an indispensable tool for guiding discovery and in... Read more

Continuing his discussion of prices, Baetjer explains what can go wrong when outside interference prevents genuine marke... Read more

Prices, explains Baetjer, are a powerful tool for getting people the knowledge they need to cooperate with one another i... Read more

Having discussed supply and demand separately, Baetjer explains how, together, they describe the way markets operate.

Baetjer explains the “supply” half of “supply and demand.”

Baetjer explains the “demand” half of “supply and demand.”

Building on the concept of opportunity cost, Baetjer explains how specialization and trade make us richer.

All economic behavior occurs at the margin. The decisions of economic actors are “bit by bit” decisions, not all-or-noth... Read more