Justice demands that people are compensated on the basis of performance, not on the basis of their need or of the egalitarian ideal dominant in today’s culture.
Business executive Michelle Freeman recently spent a night shivering in the cold with homeless teenagers. What “good” will that achieve when the teenagers can’t find work? What moves wealthy individuals to do “penance” for their wealth?
The Patient Protection and Affordable Care Act—otherwise known as ObamaCare—is almost four years old. Despite the technical troubles, what every American should know about the law is that whatever its provisions, whatever the press propagandizes or reports, the individual has no control of, or choice in, health insurance or medicine. Not if you’re a doctor, patient […]
Insider trading is when someone trades with knowledge they have but which others do not. The question is whether this should be a crime.
Gold moved from $300 to $1,800 not because investors believed the government would hold the line on debt, but because they believed that the U.S. fiscal position would get progressively worse. That is what happened this week.
Under Calvin Coolidge, the ultimate in non-interventionist government, the annual unemployment rate got down to 1.8 percent. How does the track record of Keynesian intervention compare to that?
The popular take on the current debt ceiling stand-off is that the Tea Party wing of the Republican Party has a delusional belief that it can hit the brakes on new debt creation without bringing on an economic catastrophe. While Republicans are indeed kidding themselves if they believe that their actions will not unleash deep […]
How could the Yellen’s and Bernanke’s of the world possibly think that counterfeiting money is a good idea?
Labor unions have been supporters of minimum wage laws in countries around the world, since these laws price non-union workers out of jobs.
Countries with minimum wage laws almost invariably have higher rates of unemployment than countries without minimum wage laws.
The government is continuously over promising and under delivering.
Many have understandably sensed that central banks may well have acted to allow bullion banks to take out massive naked short positions in precious metals in order to drive down the price.
The moral is the practical—that is the reason why you want to be moral.
Instead of humility that the “you are not that good” remark is trying to admonish, an effective business leader needs to embrace the moral principle of pride: the policy of doing one’s best.
Marx was wrong: shareholders will benefit, not from the exploitation of workers but from their motivated, productive, fairly-compensated contribution to wealth creation. It is not a win-lose but a win-win; the alleged conflict between shareholders and workers is a myth.
The New York Times had the definitive take on the vicious sell off in gold. To summarize one of their articles: Two years ago gold bugs ran wild as the price of gold rose nearly six times. But since cresting two years ago it has steadily declined, almost by half, putting the gold bugs in […]
One of the most common arguments for allowing more immigration is that there is a “need” for foreign workers to do “jobs that Americans won’t do,” especially in agriculture. One of my most vivid memories of the late Armen Alchian, an internationally renowned economist at UCLA, involved a lunch at which one of the younger […]
To an extent that reveals a thorough misunderstanding of the market forces, the financial media has failed to consider the different motivations and beliefs that drive the different types of investors who are active in the gold market. By treating the gold market as if it were comprised of just one type of investor, analysts […]
This week economists, investors and politicians were treated to some of the “best” home price data since the frothy days of 2006 when home loans were given out like cotton candy and condo flipping was a national pastime. The Case-Shiller 20 City Composite Home price index was up a startling 10.9% for the 12 […]
It is wrong of governments to interfere with markets, whether through protectionism or other regulations restricting our freedom to trade and compete.