Value and Exchange

The taxpayers will complain a little, but they'll be sure to re-elect most of the politicians who gave us this status quo.

The way that government collects taxes is awful. The process of spending it is even worse.

Thanks to government loans, the price of college has skyrocketed in recent years because student loans mean colleges can raise their prices without driving away otherwise-price-sensitive students. Only a fraction of the hefty price hikes go toward classroom instruction or core educational...

Recognizing they have little chance of changing the outcome, people often vote to send a message about themselves. But, whatever the motivation, voting contrasts sharply with market choices where people actually bear the costs of their own decisions.