The „Half of the Time“ Homo Economicus: Why a Fundamental Assumption of Economic Theory is the best we can have

There has been a lot of criticism on the assumptions of the homo economicus model which refers to the concept of humans as rational and narrowly self-interested actors. „Economics is that way of understanding behavior that starts from the assumption that people have objectives and tend to choose the correct way to achieve them“, says […]

Why free-trade is a great piece of fortune …

german Das Video basiert auf dem Essay „I, Pencil“ von Leonard Read, der erstmals 1958 in der Zeitschrift The Freeman erschien, die von der Foundation for Economic Education herausgegeben wird. -> Deutsche Übersetzung von Gesine von Prollius english A film from the Competitive Enterprise Institute, adapted from the 1958 essay by Leonard E. Read. For […]

David Friedman: A lecture on liberty

Can you spare an hour for one of the most interesting liberal person I know? Economist and physicist David Friedman speaks to the students of Boise State University about the system of anarcho-capitalism that he lays out in his most well-known book, The Machinery of Freedom. Wikipedia: David Director Friedman (born February 12, 1945) is […]

Don’t Shoot the Messenger! Communications Technology Creates Freedom

Google, NSA, Snowden: Electronic communications technology leads to more control, let us become the playthings of the powerful. From that perspective the progress of communications technology is currently under discussion. What is easily forgotten: Technology creates freedom. This can be seen if the powerful are that powerful, that they are able to prevent progress to […]

Post-Liberalization in Germany: „Overhelmingly negative“

In theory the monopoly by the Deutsche Post is gone: Since 1998, the German Federal Network Agency for Electricity, Gas, Telecommunications, Postal Service and Railways (Bundesnetzagentur) has licensed the professional transport of letters and mail, to which there was no weight restrictions. However, the relevant service providers were obliged to provide the so-called „higher-valued services“ […]

Unfunded replacement needs in Germany: 3.79 billion Euro

One big questions of the demographic change: How to keep infrastructure in good condition? Germany is running in that problem or rather already has it. There are unfunded replacement needs in Germany’s transportation infrastructure from 2006 to 2011 of 3.79 billion Euro, according to Marcel Fratzscher, the head of the German Institute for Economic Research (DIW). Fratzscher […]

Buy experience not products: Why you should make restaurant reservations well ahead

A criticism of capitalism (and the consequence of it: wealth) is that prosperity does not make us happy. One reproach: Money is killing pleasant anticipation. Those who have money can buy whatever they want, usually immediately. Of course anticipation has two sides of one coin. The pleasant one is that we are looking forward on something, […]

The Me-Too Company: How Apple Lost Track of Success

Apple has delivered. That’s the mainstream message of the media around the globe after the Apple keynote. With iPhone 6 (coming with two different and bigger sizes), AppleWatch and some more interesting features there is no doubt that Apple will continue its success story in the near future. But even yesterday’s keynote with its presentation of new products and featuers […]