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Common Sense Economics

Intellectual Property as the New Guild System

November 28, 2019 – Frank Hollenbeck …… The standard justification for intellectual property — i.e., patents and copyrights and trademarks — is that the creative process would be significantly reduced if such protection did not exist. But did inventors or artists starve before IP laws? The answer is no because they benefited from the first-to-market advantage. Continue reading →

The Fairness of “Unequal” Exchange

October 27, 2019 – Jim Fedako …… When an elected official or government bureaucrat interferes with a valid, non-coerced exchange, they may appear to be helping one individual when they are actually harming a foundation of modern society; free exchange of goods and services. Continue reading →