What happens when the people making decisions suffer no consequences if they’re wrong? The term “Law of Unintended Consequences” is often used to describe the unexpected and unintended outcomes of actions taken by individuals, particularly those in government. What Does the Law of Unintended Consequences Mean? The law of unintended consequences refers to the idea […]
If you give a mouse a cookie, they are going to want some milk to go with it … if you give the government a little bit of power, they are going to want even more.
Governments like to claim they know enough to be able to control and plan out entire economies. But with so many individual actors contributing to the economy, it is impossible for one central body to have enough information to make informed decisions. Economist F.A. Hayek explained this conundrum with what if called “the knowledge problem. […]
Ever wonder why a candy bar costs a $1? Or why a pizza costs nearly $20? On today’s episode Brittany and Connor dive into prices and where they come from. Spoiler alert, we might have more power over this as consumers than you might think! Links: Where Do Prices Come From? Tuttle Twins and Miraculous […]