Weekly Web Gems

Nanny of the month . . . Reason TV’s winner for April: Eastchester, NY. Banning traditional fast food was not enough. To protect their citizens from…flour tortillas? self-busing tables? this upscale community adds casual fast-food stops like Cosi, Panera’s, and Chipotle to their no-no list.

What is the gold standard? . . . In 1933 FDR required all private gold holdings of more than $100 to be turned in to the Federal Reserve. In 1974, under Nixon, the United States abandoned the gold standard completely. Professor Lawrence H. White discusses what the gold standard was, why it was abandoned, and whether abandoning it was ever a good idea.

Econ 101 . . . Professor Paul Cwik explains how free-market pricing solves the problem that every economy faces: how to best allocate limited resources. And when pricing signals are interfered with–by centralized price controls or by constraining regulations–the economy loses efficiency.

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