One of the characteristics that distinguishes libertarians is our affinity for free-market economics. We certainly depart from liberals and, for the most part, conservatives, who often favor some form or crony capitalism in the name of a free market.
But being for laissez-faire economics isn’t just about being for the ability for two people to engage in a voluntary exchange; it’s about understanding the relationship between scarcity and the natural incentives behind human action. Once we comprehend how our choices are a decision between our wants/needs and the resources available to us at any given moment, we see the world in a way that differs greatly from most people.
So why is it important to think of the world in terms of economics? We discuss in today’s episode.
Links related to this episode:
The Economic Way of Thinking
– Pat and Jon