markets

I often hear the phrases \'real price\' or \'justified price\', for example, in the question of ambulances or hospitals. They make my economic hair stand on end. It reminds me of how deeply embedded healthcare is in the price thinking of planned economics. Before 1989 in Slovakia, the whole economy was run on the principle of price. A manager in a company calculated the price of steel, plastic, and man-hours to produce one Škoda 120 car, for example.

Price inflation is not inevitable. One of the most common explanations for price growth is identifying it with capitalism. The argument is that inflation is unavoidable as the economy grows. It is thought that for businesses to have an incentive to invest and wages to grow, the prices of goods and services should rise in the first place.

“Inequality” refers to very important aspects of social life. But the debate on equality is full of confusion because of its many meanings, methodological and empirical errors and very strong emotions which “inequality” evokes. Conceptual confusion includes the lack of precise distinction between the inequality of situation and the inequality of opportunity.