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Key Economic Concepts

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The concepts behind free markets

Key Economic Concepts are a series of short essays that explain the central ideas and principles that form the basis of free market economic theory and economic freedom. Although there are many sophisticated studies in economics and political philosophy that provide historical, theoretical and empirical evidence attesting to the benefits of free markets, many people to this day remain ignorant of basic economic principles or have mistaken ideas about the foundational concepts essential to laissez-faire capitalism.

The Key Economic Concepts essays are written for the average reader in a light, easy to understand style by leading economists from across North America, and explain topics such as Scarcity, Property Rights, Incentives, Unintended Consequences, Opportunity Costs, and more.

These essays are intended to increase interest in, and education about, free markets. With greater awareness of the key concepts behind free markets, comes a greater knowledge and appreciation of the benefits of capitalism.