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Sorry Vegan Eatery—Good Intentions Don’t Absolve Your Economic Sins

I frequently teach principles courses, offering many college students their first exposure to the ideas of economics. While we cover all the basics–supply and demand, elasticity (consumer and producer sensitivity to price changes), taxation, trade, and externalities, I’m under no illusion that most of them will remember a lot of the material come a year from now, much less longer.
But there is one thing I hope all my students remember forever—the role of prices and private property. In particular, I want them to remember how these mechanisms are vital for a free and prosperous society. I make it clear to

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