Daily Economy
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The Welfare State Is Politically Incompatible with Diversity
“The much-heralded ‘postwar consensus’ created this problem, out of misguided dreams of a caretaker state that managed the whole of life for everyone in who manages to fit within its inflated geographic orbit. The dream was too big, too expansive, too expensive, and it used the wrong means (force over choice). Something has to give…
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An Education in One Evening, Courtesy of Jordan Peterson
Politics promised to give us a meaningful life. It failed. Now we have to find it elsewhere. As the poet Virgil led Dante through Heaven, Purgatory, and Hell, Jordan Peterson is the tour guide of the modern world in its confrontation with our inner selves.
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Communist Theory Can’t Account for Crypto
A number one fallacy in the history of economics is the labor theory of value. The idea here is that things and actions are made valuable by how much work we put into making them. Sounds intuitively right. It’s completely wrong. Things have value because you and I value them, regardless of labor inputs.
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Average Hourly Earnings Growth Accelerates to a Cycle High in August
U.S. nonfarm payrolls added 201,000 jobs in August bringing 12-month total to 2.33 million new jobs while hourly earnings rose 0.4 percent for a 12-month gain of 2.9 percent, the fastest since 2009. Broad-based gains in the labor market are providing support for consumer confidence, consumer spending, and the economy overall.
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Economic Basic: Trade Is Mutually Beneficial
This is perhaps the first lesson, and the most important, that students learn in economics.
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Max Stirner’s Enduring Relevance
Collectivism left horrifying stains on the 20th century. With the new technologies of supervision and control now available, the dominance of collectivist beliefs in the new century would be outright devastating. It is time to ban the curse of collectivism. We need an individualist turn in philosophy and politics and must abandon the mystical beliefs…
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FDR’s Forgotten Tax on the Poor
The real story of New Deal income tax policy is a revenue grab sustained by the expansion of income tax eligibility and enforcement onto the masses.
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Nonmanufacturing Index Rises in August; Initial Claims Lowest Since 1969
The ISM’s nonmanufacturing index rose to a reading of 58.5 from 55.7 in July. The results suggest the nonmanufacturing sector continued to grow in August. That performance is in line with the report for the manufacturing sector and other recent data that point to ongoing expansion for the overall economy.
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Why Crypto’s Brutal Day May Be Good News for Crypto
This isn’t a ponzi scheme, conspiratorial black box, or “animal spirits” run amok. This, my friends, in all its messy and occasionally terrifying glory, is a market.
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Kaepernick’s Cause Means Something to the Market
You might observe that this is the free market’s way to co-opt the anti-racist movement on behalf of capitalist profits. But maybe that’s not a criticism. Maybe that’s a way to get the message out and make it more culturally operational.
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•
The Welfare State Is Politically Incompatible with Diversity
“The much-heralded ‘postwar consensus’ created this problem, out of misguided dreams of a caretaker state that managed the whole of life for everyone in who manages to fit within its inflated geographic orbit. The dream was too big, too expansive, too expensive, and it used the wrong means (force over choice). Something has to give…
-
•
An Education in One Evening, Courtesy of Jordan Peterson
Politics promised to give us a meaningful life. It failed. Now we have to find it elsewhere. As the poet Virgil led Dante through Heaven, Purgatory, and Hell, Jordan Peterson is the tour guide of the modern world in its confrontation with our inner selves.
-
•
Communist Theory Can’t Account for Crypto
A number one fallacy in the history of economics is the labor theory of value. The idea here is that things and actions are made valuable by how much work we put into making them. Sounds intuitively right. It’s completely wrong. Things have value because you and I value them, regardless of labor inputs.
-
•
Average Hourly Earnings Growth Accelerates to a Cycle High in August
U.S. nonfarm payrolls added 201,000 jobs in August bringing 12-month total to 2.33 million new jobs while hourly earnings rose 0.4 percent for a 12-month gain of 2.9 percent, the fastest since 2009. Broad-based gains in the labor market are providing support for consumer confidence, consumer spending, and the economy overall.
-
•
Economic Basic: Trade Is Mutually Beneficial
This is perhaps the first lesson, and the most important, that students learn in economics.
-
•
Max Stirner’s Enduring Relevance
Collectivism left horrifying stains on the 20th century. With the new technologies of supervision and control now available, the dominance of collectivist beliefs in the new century would be outright devastating. It is time to ban the curse of collectivism. We need an individualist turn in philosophy and politics and must abandon the mystical beliefs…
-
•
FDR’s Forgotten Tax on the Poor
The real story of New Deal income tax policy is a revenue grab sustained by the expansion of income tax eligibility and enforcement onto the masses.
-
•
Nonmanufacturing Index Rises in August; Initial Claims Lowest Since 1969
The ISM’s nonmanufacturing index rose to a reading of 58.5 from 55.7 in July. The results suggest the nonmanufacturing sector continued to grow in August. That performance is in line with the report for the manufacturing sector and other recent data that point to ongoing expansion for the overall economy.
-
•
Why Crypto’s Brutal Day May Be Good News for Crypto
This isn’t a ponzi scheme, conspiratorial black box, or “animal spirits” run amok. This, my friends, in all its messy and occasionally terrifying glory, is a market.
-
•
Kaepernick’s Cause Means Something to the Market
You might observe that this is the free market’s way to co-opt the anti-racist movement on behalf of capitalist profits. But maybe that’s not a criticism. Maybe that’s a way to get the message out and make it more culturally operational.