From The Economist comes this story illustrating how the market power of a monopolist (or dominant firm) is often temporary and frequently diminishes over time due to the availability and development of substitutes. In this case, a 19th century technology … read more >

And total Miami-area home sales in April were the highest for that month since 2006, according to DQ News.  “The overall median sale price rose slightly from March but fell short of a year ago for the 43rd consecutive month … read more >

HT: W. Heasley

The “breakeven rate” – the difference between 10-year nominal Treasury yields and 10-year Treasury Inflation Protected Securities (TIPS) yields – is one market-based measure of expected future inflation.  As of yesterday the breakeven rate was 2.20%, down 45 basis points from … read more >

Don Boudreaux’s masterfully continues the Julian Simon tradition in this WSJ article “More Weather Deaths? Wanna Bet?“: “Writing recently in the Washington Post, environmental guru Bill McKibben asserted that the number and severity of recent weather events, such as the … read more >