Daily Economy
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Minimum Wages Had a Eugenic Intent
“Let’s say that instead of a $15 an hour minimum, Congress pushed a $15 maximum wage/salary. The rich would simply stop working, while everyone else would likely lose professional aspiration. This is not complicated to understand. So too with a wage floor: it cuts the poor out of the market just as the eugenicists said…
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The Difference Between Copper and Cucumbers
“Most of the raw materials that we ever brought out of the Earth’s crust are still with us, capable of being used and then turned into something else when that better fits our needs and wants. Cucumbers and renewable crops don’t have that quality. If anything, Circular Economy proponents should be horrified by cucumbers, not…
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Why We Need Simple Rules for a Complex World
“Our current bias towards trying to make a government rule for every single issue that arises in society is not only ignorant of the very institutions of freedom that make our society prosper, but it also threatens to continue a vicious cycle that fuels an ever-encroaching state. A more optimal solution to address societal issues…
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Gordon Tullock: A Birthday Appreciation
“Long after many influential economists have been relegated to footnotes or forgotten, I believe people will still be reading and citing Tullock’s work, and not as historical curiosities, either. They will be reading and citing the work of a scholar who made timeless contributions to how we understand the world.” ~ Art Carden
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A Nuanced Approach to China Part 3
“When it comes to protecting our intellectual property and ensuring good business practices, it is important that we are guided by reality and not a fantasized version drummed up by politicians for political gain. Harsh retaliation is neither productive or justifiable but standing idle is not a solution either. Our response to China must be…
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Sovereignty Still Rests with the People, Not Congress
“No amount of selective quotes from the Constitution by Raskin and other righteous legislators will curb the contempt that politicians have richly earned. Many Americans instinctively recognize that, as Thomas Paine declared, ‘the trade of governing has always been monopolized by the most ignorant and the most rascally individuals of mankind.'” ~ James Bovard
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Weakening Economic Expectations Pull Down Consumer Sentiment
“Consumer sentiment fell in early February, driven by a weaker economic outlook, especially among lower-income consumers. Apprehensive consumers may slow the economic recovery.” – Robert Hughes
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A Currency that Rises in Value Will Change Everything
“Maybe widespread ownership and use of Bitcoin and other cryptos can make a cultural and economic contribution to converting us from profligate to thrifty in the way our great-great grandparents could celebrate. After all, it was they, and the gold standard under which they lived, that set us on the course to building a modern…
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A Vaccine Auction
“As long as the problems of efficiency and distributive justice are separable, one can leave vaccine allocation to a (thoughtfully designed) market while leaving it to elected officials to debate and pursue, at their own pace, the kind of distributive justice that they think their constituents deserve.” ~ Romans Pancs
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Julian Simon: Important Enough to Name Your Kids After
“Simon was a model mind and an outstanding intellectual citizen. He thought through the theory and formulated his hypotheses very carefully. He tested his hypotheses against the data. Importantly, he took real and consequential action based on his beliefs–at great risk to his own reputation, but to the everlasting benefit of the rest of us.”…
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•
Minimum Wages Had a Eugenic Intent
“Let’s say that instead of a $15 an hour minimum, Congress pushed a $15 maximum wage/salary. The rich would simply stop working, while everyone else would likely lose professional aspiration. This is not complicated to understand. So too with a wage floor: it cuts the poor out of the market just as the eugenicists said…
-
•
The Difference Between Copper and Cucumbers
“Most of the raw materials that we ever brought out of the Earth’s crust are still with us, capable of being used and then turned into something else when that better fits our needs and wants. Cucumbers and renewable crops don’t have that quality. If anything, Circular Economy proponents should be horrified by cucumbers, not…
-
•
Why We Need Simple Rules for a Complex World
“Our current bias towards trying to make a government rule for every single issue that arises in society is not only ignorant of the very institutions of freedom that make our society prosper, but it also threatens to continue a vicious cycle that fuels an ever-encroaching state. A more optimal solution to address societal issues…
-
•
Gordon Tullock: A Birthday Appreciation
“Long after many influential economists have been relegated to footnotes or forgotten, I believe people will still be reading and citing Tullock’s work, and not as historical curiosities, either. They will be reading and citing the work of a scholar who made timeless contributions to how we understand the world.” ~ Art Carden
-
•
A Nuanced Approach to China Part 3
“When it comes to protecting our intellectual property and ensuring good business practices, it is important that we are guided by reality and not a fantasized version drummed up by politicians for political gain. Harsh retaliation is neither productive or justifiable but standing idle is not a solution either. Our response to China must be…
-
•
Sovereignty Still Rests with the People, Not Congress
“No amount of selective quotes from the Constitution by Raskin and other righteous legislators will curb the contempt that politicians have richly earned. Many Americans instinctively recognize that, as Thomas Paine declared, ‘the trade of governing has always been monopolized by the most ignorant and the most rascally individuals of mankind.'” ~ James Bovard
-
•
Weakening Economic Expectations Pull Down Consumer Sentiment
“Consumer sentiment fell in early February, driven by a weaker economic outlook, especially among lower-income consumers. Apprehensive consumers may slow the economic recovery.” – Robert Hughes
-
•
A Currency that Rises in Value Will Change Everything
“Maybe widespread ownership and use of Bitcoin and other cryptos can make a cultural and economic contribution to converting us from profligate to thrifty in the way our great-great grandparents could celebrate. After all, it was they, and the gold standard under which they lived, that set us on the course to building a modern…
-
•
A Vaccine Auction
“As long as the problems of efficiency and distributive justice are separable, one can leave vaccine allocation to a (thoughtfully designed) market while leaving it to elected officials to debate and pursue, at their own pace, the kind of distributive justice that they think their constituents deserve.” ~ Romans Pancs
-
•
Julian Simon: Important Enough to Name Your Kids After
“Simon was a model mind and an outstanding intellectual citizen. He thought through the theory and formulated his hypotheses very carefully. He tested his hypotheses against the data. Importantly, he took real and consequential action based on his beliefs–at great risk to his own reputation, but to the everlasting benefit of the rest of us.”…