HOT TOPICS: Ayn Rand | Iran | ICE | Renee Good | Heritage American | Wealth Tax | Mamdani | Jimmy Lai
Now that unemployment in Germany has hit 11.4 percent, it was perhaps inevitable that some politicians there would come up with various quick-fix "solutions" to the huge drain of unemployment compensation on the government's budget. A young waitress discovered one of...
A discussion of a few popular sentiments that have high emotional worth but make little economic sense.
What’s called the market is simply a collection of millions upon millions of independent decision makers not only in America but around the world.
Economic theory is broadly applicable. However, a society’s property-rights structure influences how the theory will manifest itself.
The fact that sellers charge people different prices for what often appear to be similar products is related to a concept known as elasticity of demand,
Relative price is one price in terms of another price.
The cost of having or doing something is what had to be given up.
Specialization is said to occur when people produce more of a commodity than they consume or plan to consume.
There are four classes of behavior that can be called economic behavior. They are: production, consumption, exchange and specialization.
Economic theory can’t answer normative questions.
The first lesson in economic theory is that we live in a world of scarcity.
Here are a couple of newspaper headlines following Florida's bout with hurricane disasters: "Storms create lucrative times," St. Petersburg Times (Sept. 30, 2004), and "Economic growth from hurricanes could outweigh costs," USA Today (Sept. 27, 2004). The writers,...
Last year, Sen. Fritz Hollings (D-S.C.) and Rep. Charles Rangel (D-N.Y.) introduced bills calling for reinstatement of the military draft. A far more descriptive term for the military draft is government confiscation of labor services, but keeping with the spirit of...
Although government schools maintain a monopoly on public funds, they’ve failed miserably by almost every conceivable benchmark.
In a recent column, I defended supply-side economics from an attack by Princeton economist Paul Krugman in the New York Times Magazine. One of the rare civil criticisms I got came from my friends at TAPPED, the web log of the liberal American Prospect magazine. Their...
In contrast, however, the interventionist ideas, the socialist ideas, the inflationist ideas of our time, have been concocted and formalized by writers and professors. And they are taught at colleges and universities. You may say: "Today's situation is much worse." I...
People say that every civilization must finally fall into ruin and disintegrate. There are eminent supporters of this idea. One was a German teacher, Spengler, and another one, much better known, was the English historian, Toynbee. They tell us that our civilization...
Under interventionist ideas, it is the duty of the government to support, to subsidize, to give privileges to special groups. The idea of the eighteenth century statesmen was that the legislators had special ideas about the common good. But what we have today,...
In the Age of Enlightenment in the years in which the North Americans founded their independence, and a few years later, when the Spanish and Portuguese colonies were transformed into independent nations, the prevailing mood in Western civilization was optimistic. At...
Who'd have thought an inanimate object could teach a lesson in economics? Yet that's exactly what a first-aid kit did. Several kits, actually, wall-mounted cabinets in the buildings where I work. Now we're not just talking Band-Aids and iodine here. No, these babies...
Disagreement with the world's environmentalist wackos doesn't mean that one is for dirty air and water, against conservation and for species extinction. Dr. Richard Stroup, Montana State University professor of economics and senior associate of the Center for Free...
A nation isn’t harmed when it imports more than it exports, which is why the trade deficit is the most dangerous statistic collected by government.
On Tuesday, the Economic Policy Institute (EPI), a left-leaning Washington think tank, published a full-page ad in The New York Times condemning the proposed Bush tax cuts. This pro-tax statement is signed by more than 400 economists, including 10 Nobel laureates --...
Upset with President Bush's tax cut plan, columnist Molly Ivins warns that America's more well-to-do taxpayers might go out and doing something unproductive if the government seizes a smaller portion of their incomes."There's no guarantee," Ivins writes, "that rich...
Latest pro-Capitalism goodness sent weekly to your email box.
No spam. Unsubscribe anytime.