Many anti-capitalist activists claim that markets only work when there is “perfect competition” or some other imagined condition for a functional market. They say that even economists admit this. In truth, markets don’t require “perfect” anything to make our lives better. Today at mises.org, Jonathan Newman explains how to properly understand economic “constructs” to help us understand how markets work.

Also today, Frank Shostak counters one of the worst economic myths of all: that economic growth requires a growing money supply. 

Ryan, Editor-in-Chief