My family basically quit drinking soda a few years ago. And I don’t really miss it – except for one thing: carbonation.

Because seriously, is there anything better than all those hissing little bubbles rushing up to greet you when you’re in the mood for something fizzy? I think not.

I’ve become a big fan of carbonated water – but are those little bubbles really worth $1,300 a year?

I’ve had some decisions to make. But thanks to some very basic principles of economics, I’m able to effectively pursue my happiness with a glass of bubbly. (Water, that is.)

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Post Highlights

Freely determined market clearing prices are a really big deal when it comes to our ability to exercise economic liberty. Because a price freely established in the marketplace helps ensure that the right amounts of goods and services are available in the marketplace.

A freely established price means you’re able to buy a Big Mac whenever you want one. It means you can get your oil changed by a mechanic whenever you need it. It means Black Friday isn’t your everyday shopping experience. It means you can fly to Europe whenever you want to. (You could even leave today if you’re willing to pay for a crazy-expensive airline ticket!)

In real, every day terms, a freely established price means you can pursue your happiness through economic liberty. After all, economic liberty means nothing if there are no goods or services available to purchase (a shortage) – or if resources are wasted on goods or services no one wants to buy (a surplus), right?

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