Economics

What’s Wrong with Bernie Sanders’ 32-Hour Work Week Bill

A shortening of the hours of work is a highly desirable goal. But it cannot be achieved along with growing prosperity except in a free market.

How The Economy Works

How The Economy Works

An excerpt from Objective Economics: How Ayn Rand’s Philosophy Changes Everything About Economics by Northrup Buechner.   Here is the fundamental problem of economics: Every consumer good that you buy reaches you through the cooperation of literally...

The Redistribution of Health

The Redistribution of Health

In her famous novel Atlas Shrugged, Ayn Rand identified the absurdity of placing one’s life in the hands of doctors whose lives had been throttled by socialized medicine. Socialized medicine, because of the government monopoly it imposes on both doctors and...

Herman Cain's 9-9-9-9 Plan

Herman Cain's 9-9-9-9 Plan

Herman Cain has been gaining much traction with his 9-9-9 Plan, a bold proposal to replace our dysfunctional tax code with what could be a simpler, less invasive, and more economically stimulative alternative. While I don't agree with the full spectrum of Mr. Cain's...

Economic Ideas and Their Consequences

Economic Ideas and Their Consequences

The public standing of economics and economists has been declining for some time. In the 1960s and 1970s, economists were seen, and they saw themselves, as the saviors of the economy. They talked of “fine-tuning” the economy, of changing government...

The End of Civilization As We Know It

The End of Civilization As We Know It

What we are seeing in Europe is that that model is inherently unsustainable. The concept of individual rights is the only standard for government action that puts an objective limit on what the government can do. The post-war leaders of Europe were completely ignorant...

The Central Role of Saving and Capital Goods

The Central Role of Saving and Capital Goods

As the popular philosophy of the common man sees it, human wealth and welfare are the products of the cooperation of two primordial factors: nature and human labor. All the things that enable man to live and to enjoy life are supplied either by nature or by work or by...

Payroll Tax and Unemployment

Payroll Tax and Unemployment

Remember when President Obama and his team promised that if only we passed an emergency “stimulus” bill allowing them to wantonly spend $787 billion, unemployment would be capped at 8%? Two years later, having soared as high as 9.8%, July’s unemployment rate stands at...

Blueberry Economics

SEA ISLE, N.J. — I should be worrying about how the politicians are killing the nation financially, but that's on the back burner today because the 25th annual Red, White and Blueberry Festival is right up the road and they're estimating that 10,000 of us will...

Tax Cuts Are Not Enough To Save The Economy

Tax Cuts Are Not Enough To Save The Economy

The Democratic Party operates on the following assumptions: 1. Social programs such as Medicare and Social Security are entitlements, at least to certain members of the population. They can and must be maintained and expanded at all costs. 2. The best way to finance...

Where Profit Comes From

Where Profit Comes From

This theory of profit/interest has major implications for the understanding of capital accumulation, the determination of real wages and the general standard of living, taxation, inflation/deflation, and the business cycle. It also provides the basis for the overthrow of virtually all aspects of Keynesianism and its system of national income accounting, along with an equally fundamental and thorough refutation of Marxism and the exploitation theory.

Economics Doesn

Q: In your article, “Economics Doesn’t Explain the Housing Market Collapse,” I think you are being a little naive in thinking the housing collapse was caused by a sense of entitlement. This was calculated economic warfare against the middle class, an...

Obamanomics vs. Economics

With job creation in the private sector basically dead and a growing number of jobless workers ceasing to even look for work any longer, the number of people officially counted as part of the U.S. labor force shrank by 652,000 in June.   That was more than double...

Altruism: The Moral Root of the Financial Crisis

Altruism: The Moral Root of the Financial Crisis

The financial crisis is, fundamentally, a moral crisis. To end the crisis, we must acknowledge that government intervention caused it, and we must demand that the government begin removing its coercive hands from the economy. With an eye to the short term, we must demand that it scale back the powers of the GSEs, the Federal Reserve, and the FDIC; and with an eye to the long term, we must demand that the government abolish these agencies entirely and restore a gold standard run by private, currency-issuing banks subject solely to the objective commercial and bankruptcy codes.

Broken Windows, Broken Principles

Broken Windows, Broken Principles

Economic success requires recognition, not evasion, of the fact that the principle of cause and effect applies just as inexorably in financial policy as it does in the scientist’s lab. Only when we reestablish acceptance of this idea can we hope to reverse course and return to the road of long term prosperity.

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