Besides making Americans poorer than they otherwise need to be due to Trump’s tariff wars, the president has arrogantly used executive authority to arbitrarily impose higher import taxes (or their threat) at his own discretion and whim.
MARKETS
Intellectual freedom cannot exist without political freedom; political freedom cannot exist without economic freedom; a free mind and a free market are corollaries. – AYN RAND
No Need To Cut Down Amazon, Apple, Google and Facebook To Size
It is not Amazon, Google, Apple, Facebook, and others that need to be “cut down to size,” as they cannot coerce us to buy their products and use their services.
The Financial Crisis: Lessons Not Learned
The financial crisis of 2008-9 — accompanied by the Great Recession was caused by government intervention, mainly in mortgage finance and the housing sector.
How Ayn Rand’s Philosophy of Objectivism Can Rescue Hayek’s Economics
In economics Hayek is a radical; but in philosophy, unlike Ayn Rand, Hayek is a conservative.
“Hipster Antitrust”: The Assault on Google, Facebook, Apple and Amazon
Hipster antitrust taken to its logical extreme involves the government using its power over firms to make them do whatever politicians feel like.
Is Capitalism Worth Saving? The Economic Argument for Capitalism
Any social system must coordinate production and cooperation, and must also implement a system of distribution that participants perceive as sustainable, which often means morally fair. As Nobelist Elinor Ostrom demonstrated, there are many and widely varied social...
Paid Family Leave Mandated By Government
Can’t we just leave government out of it and let employers and employees work this out to meet individual needs?
AOC Returns to the Scene of the Minimum Wage Crime
Does a government-mandated minimum wage help or hurt the very workers and job seekers that Ocasio-Cortez wants to help?
‘Buy American’ is un-American
A patriotic American acts as a capitalist and an individualist: he buys the best, wherever it may be found.
As the U.S. Government Grows, American Prosperity Slows
Economic growth has been faster when the federal government has been smaller (relative to GDP) – and vice versa.
What Makes Money Trustworthy?
I don’t trust politicians, generally, but I especially don’t trust them with money. Since the U.S. went off the gold standard, the dollar has lost 80 percent of its value.
Trump’s China Blunder
By mistaking the real nature of international trade, the costs of tariffs, the effects of currency movements, and the supposed ease with which the United States could quickly re-establish itself as a low-cost manufacturer, Trump risks shredding the safety nets that have undergirded the U.S. economy for decades and plunging us into a war we are ill-equipped to fight.
Trump’s ‘Infrastructure’ Plan Versus Obama’s ‘Stimulus’: Part II
“I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.”
Trump Tariffs are a Tax on the American People
Tariffs are paid directly from American businesses to the government’s coffers.
Defending Capitalism: Ayn Rand vs. Hayek
Ayn Rand publicly recommended the works of Mises but not of Hayek. Today, when Hayek is much better known than Mises, it’s worth seeing why. I came to the full realization of what’s wrong with Hayek’s approach while re-reading Atlas Shrugged . No,...
The Three Economic Elements About Capitalism
Those three elements are (a) division of labor; (b) impersonal exchange based on prices; and (3) economies of scale based on knowledge.
Roads Are Not Public Goods
Some creative rethinking can put us on the road to a better tomorrow.
Living Wage Is as Wrongheaded as the Minimum Wage
After all the studies and the near-unanimous opinion of economists — and even after the negative real-world effect of the minimum wage — it still remains popular.
Federal Reserve System is Socialism
Central banking is a form of central planning. The Federal Reserve has a legal monopoly over the monetary system of the United States.
The Production of Money Isn’t (Necessarily) the Production of Wealth
The creation of money doesn’t create wealth, unless money itself is wealth — as it was when it was gold and silver.
Capitalism and How Expectations Coordinate Markets
Open, competitive markets have a resilient capacity to successfully coordinate the actions of, now, billions of people around the world. With an amazing adaptability to changing circumstances, the actions and reactions of multitudes of suppliers and demanders are...
Classical Economics vs. The Exploitation Theory
Despite the support which it historically gave to the exploitation theory, classical economics provides the basis for turning the exploitation theory upside down.
If $15 Minimum Wage Is Such a Good Idea, Why Did AOC’s Bar Close Down?
Its co-owner, Charles Milite, cited as the primary reason the city’s minimum wage law.
The Global Economy Needs Freedom for Peace and Prosperity
At the end of the day, the balance of payments always balances.
Collectivism Destroys Business
Collectivist elements spur violations of individual rights, such as taxes, highly progressive income taxation in particular, and other wealth “redistribution” schemes that discourage entrepreneurship, innovation, and wealth creation in general
Capitalism Prevents Harmul Monopolies
Introduce government intervention into the market system, and monopoly becomes a social harm and an economic problem.
Keynesian Aggregate Demand and Supply Derangement Syndrome
The fundamental flaw in Professor DeLong’s view, as in John Maynard Keynes’ 1936 book is the idea that there exists a macro-economy the two sides of which are composed of aggregate demand and aggregate supply.
We Should Celebrate Diversity in Wealth Too
For the sake of justice, liberty, and prosperity, people should abandon their anti-commercial prejudices and cease deriding unequal wealth and income.
What a Dictator Does to an Economy
It is not for the president or any politician or regulator to issue dictates telling individuals or businesses where and what and how much to invest, much less what to say
Fallout from the Trade Wars
The president pledges to “make America great again,” which is a crucial and noble sentiment. But protectionism only hurts rather than helps do that job.
Football Stadium Subsidies: A Bad Deal for Taxpayers?
Football is popular enough to thrive without politicians subsidizing it.
Profit Maximization: The Moral Purpose of a Business Under Capitalism
Profit seeking and capitalism are natural and beneficial and provide the proper moral purpose for business.
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