Not everything is a market

posted by
April 7, 2011
Foundation for Economic Education
by Steven Horwitz  
Posted in Commentary

"It often seems that libertarians (especially ones who are well read in economics) think every social phenomenon under the sun can be understood in the same sorts of terms used to analyze markets. ... there’s no doubt that the 'economic way of thinking' can be valuable in understanding all kinds of human behavior, including those listed above. As someone who has written on the economics of the family, I can hardly deny that basic point. However, treating everything like a market can lead us into serious error as well." (04/07/11)  


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