"The ‘Mystery’ of the Endowment Effect" by Per Bylund
The endowment effect: people place a higher value on objects they own than on objects that they do not. Mainstream economists are puzzled by this phenomenon, demonstrating the inability of formal economics to explain what drives human action. From an Austrian point of view, however, there is no problem and never was one.
"Daniel Patrick Moynihan and the Folding of the Ideological Spectrum" by Murray N. Rothbard
Whoever the president, whatever the party in power, Moynihan managed to land on his feet — and on top.
Source link: http://archive.mises.org/20139/mises-daily-wednesday-december-28-2011/
Mises Daily: Wednesday, December 28, 2011
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