MARKETS

How Labor Unions Can Be Anti-Labor

To anyone who understands the role of the productivity of labor in raising real wages, it should be obvious that the unions’ policy of combating the rise in the productivity of labor renders them in fact a leading enemy of the rise in real wages.

A Tragic Half Century Without Gold Money

A Tragic Half Century Without Gold Money

The gold standard wasn’t suspended because it caused the Great Depression or bank failures, nor did it disappear in 1971 because it “didn’t work.” It’s been gone because fiscal alchemists couldn’t expand the gold supply as they expanded government.

Production Versus Consumption

Production Versus Consumption

Man’s nature makes him need wealth; his simplest percep­tions make him desire it; the problem, they held, is to produce it. Economic theory, therefore, could take for granted the desire to consume, and focus on the ways and means by which production might be increased.

‘Are You on the Take?’

‘Are You on the Take?’

Because a politically connected businessmen wants more for himself, and politicians have the power to demand that developers kiss their rings, Edgewater’s dump is still a dump.

The Legacy of Karl Marx

The Legacy of Karl Marx

Though the Communist Manifesto, even in its own time, failed completely as an economic guidebook, it did succeed thoroughly in instilling class hatred. This hatred, unfortunately, has been its most permanent contribution.

Celebrate Capitalism This May Day

Celebrate Capitalism This May Day

We should not only allow global capitalism; we should welcome it and foster it in every way possible. It is time to rephrase Karl Marx: Workers of the world unite for global capitalism; you have nothing to lose but your poverty.

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