Economics

Will Progressives hold themselves accountable for the results of their wage policies?

by Skip April 15, 2017

Pfft – silly question, folks!  Just ask Timothy Horrigan (more on him in another post) – HECK no.  Never do.  Not just in wage policies but ANY policy that comes up.  Like HeadStart – billions have been spent on it and even HHS’s own study of HeadStart showed it was a loser – unless it […]

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Notable Quote – Don Lavoie

by Skip April 13, 2017

It is indicative of a peculiar view of society when the (voluntary) actions of millions of market participants are dismissed as inaction merely because active (coercive) involvement by the government is minimized. -Prof. Don Lavoie (Economics, National Economic Planning: What Is Left?🙂 (H/T: Cafe Hayek)  

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Notable Quote – Ludwig von Mises

by Skip April 11, 2017

Smith’s books did not lay the foundation stone, but the keystone, of a marvelous system of ideas.  Their eminence is to be seen precisely in the fact that they integrated the main body of these ideas into a systematic whole.  They presented the essence of the ideology of freedom, individualism, and prosperity, with admirable clarity […]

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Notable Quote – Arnold Kling

by Skip January 14, 2017

There are several fundamental concerns with the presumption of a wise, benevolent policy process. It treats the knowledge embedded in an economist’s simplified model as though it were complete knowledge. It ignores the ways that markets adapt to solve problems. And it presumes that when the political process goes to work on problems, it arrives […]

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Economic Moron: Philly Mayor Jim Kenney

by Skip January 14, 2017

When you lay down policies that would have adverse results on a given business, Democrat politicians get upset when it’s shown that these same Democrats: Keep failing the Law of Unintended Consequences Can’t do math Don’t understand that almost all businesses are going to act in their own self-interest. So, Philadelphia Mayor Jim Kenney was […]

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Notable Quote – Abigal Hall Blanco

by Skip December 29, 2016

But there is one thing I hope all my students remember forever—the role of prices and private property. In particular, I want them to remember how these mechanisms are vital for a free and prosperous society. I make it clear to them that I think this material is of the utmost importance. In fact, prior […]

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Betcha she’ll no longer be proud of the US come Jan 21, too

by Skip December 27, 2016

SHOT: “We feel the difference now. See, now, we are feeling what not having hope feels like,” she told Oprah Winfrey in an interview, a clip of which aired on CBS on Friday. “Hope is necessary. It’s a necessary concept and Barack didn’t just talk about hope because he thought it was just a nice […]

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And the Democrat Progressives want us to outsource our governance to “The Expert Technocrats”. Ahem?

by Skip November 21, 2016

Just too good not to lift pretty much right from Instapundit – just know that PREVIOUSLY, Krugman was exactly that: a Nobel laureate in Economics.  Behold his expertise! PAUL KRUGMAN ON ELECTION NIGHT: “If the question is when markets will recover, a first-pass answer is never.” WSJ, tonight: “The S&P 500, Dow Jones Industrial Average […]

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Notable Quote – Mark Perry

by Skip October 24, 2016

Remember that the real minimum wage is always zero, because that’s the wage that hundreds of thousands, possibly millions of workers will receive following an increase in the minimum wage to $15 an hour, because they will either lose their jobs or fail to find jobs when they enter the labor force. (See Congressional Budget Office […]

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Whining like a little child…

by Skip October 23, 2016

Like I’ve said in the past – no intellectual honesty and their only standard is a double one. (H/T: Powerline)

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Notable Quote – Paul Samuelson

by Skip September 24, 2016

Let me read you another one. “Minimum wage rates: these often hurt those they are designed to help. What good does it do a Negro youth to know that an employer must pay him $1.60 per hour if the fact that he must be paid that amount is what keeps him from getting a job?” […]

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Data Point – Real median income

by Skip September 22, 2016

(H/T: Business Insider)

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Data Point – CEO compensation

by Skip September 14, 2016

Instead, advocates of redistribution cavalierly diminish the importance of incentives. They claim the success of America’s 1% stems from rising cronyism despite overwhelming evidence that the status quo has grown less entrenched. Seventy percent of the wealth of the top 0.1% is owned by self-employed business owners who bested competitors to satisfy customers, not cronies, […]

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Perhaps a reason why they are in the bottom 20% of income distribution?

by Skip September 6, 2016

A little over half of the households in the bottom 20 percent have nobody working. You don’t usually get a lot of income for doing nothing. In 2010, there were more people working full-time in the top 5 percent of households than in the bottom 20 percent. –Professor Thomas Sowell (Ph.D, Economics) (H/T: Cafe Hayek)

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Blogline of the Day – it always comes down to glass

by Skip August 16, 2016

Keynesian economics is just the Broken Window Fallacy in a posh accent. Think Frederic Bastiat (H/T: Instapundit)

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Essential Hayek: Who Is F. A. Hayek?

by Scott Morales July 11, 2016

   

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Blogline of the Day: China and manufacturing

by Skip April 23, 2016

China is ‘celebrating’ U.S. efforts to reduce its carbon emissions because ‘they will end up inheriting’ much of America’s manufacturing base.” -Sen. James Inhofe (R-Okla.), chairman of the Senate Environment and Public Works Committee (H/T: Instapundit)

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Data Point – Your paycheck under Bernie Sander’s tax plan

by Skip April 19, 2016

Short take: you will have less.  Because Govt will demand more.  Emphasis mine, reformatted: an American making $18,870 a year would see a $45 drop (7.3% reduction) bringing their paycheck from from $616 down to $571 every other week. An individual in the lower-middle income range taking in $23,430 would take a 7.6% hit, with their checks […]

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Never a chance they’ll review on what they have wrought

by Skip April 9, 2016

Progressives place a bunch of constraints of the lives of the working poor, then they expect to be hoisted triumphantly into office on the shoulders of people they have harmed. When a worker making $800 on 50 hours of work has to go home and tell her family she is now making $600 on 40 […]

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Data Point – the new normal that Obama has brought us

by Skip February 27, 2016

And given that she is running to be Obama’s third term, Hillary is absolutely OK with this: Growth foregone? No problema as long as she has the control.  This is the greed of politicians – as long as they are in control, nothing else matters. (H/T: CNSNews)

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Quick, give this to Keely Martin!

by Skip November 12, 2015

That would be the Keely Martin from here.  I think that it would be great looking on her ObamaCar: (H/T: Liberal Logic 101)

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What Bernie Sanders Wants for America

by Steve MacDonald October 20, 2015
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Sanders is possessed of the ancient 20th century Nordic “tradition” of the socialist paradise. He loves him some “modern” Swedish economics, see also Socialism the Third Way. He may also think those Lads from Liverpool are still on tour and he’s just waiting for them to come ’round so he can see the show. Sorry […]

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Sooner or Later One Kind of Authoritarianism Leads to Another

by Steve MacDonald October 16, 2015

David Harsanyi at the Federalist, explores the problem of Democrat/Socialists promoting an economic model with a history they choose to ignore. In practice, of course, there’s not any difference between a Democratic Socialist and a Progressive Democrat — Hillary’s preferred designation these days — other than, perhaps, the speed at which one wants to work. (Ask […]

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GrokTALK! September 19th, 2015

by Steve MacDonald September 19, 2015
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This week we are joined by Steve Lonegan Dir. of Monetary Policy for American Principles in Action.  Susan Olsen with a “no vetoes were overridden day” recap. Kimberly Morin with a report on a protest outside  the NH Dem State Party Convention. The WTF, and…a lot more. Please follow us on YouTube, USTREAM, Facebook, and Twitter listen […]

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Open Immigration Is Good for ‘Business’… Depending on What You Mean by ‘Good’ or ‘Business’

by Steve MacDonald September 6, 2015
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At SteynOnline, Mark opines on claims that the benefit of an open immigration policy outweigh the cost. Because culture trumps economics. If you’re a Swede who likes living in Sweden what would you rather forego? The 0.0035 of spectacular gangbusters economic growth? Or the mosques and the honor killings and the no-go areas and the […]

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GrokTALK! for the week of 9/5/15

by Skip September 5, 2015

Summer is over!  Kids are back to school!  And here in NH, the countdown is proceeding to where “The Summah People” (H/T: Weekend Pundit) will be heading home and traffic here in Central NH will return to its normal, languid pace.  Hustle-bustle will be gone – but the political pace never slacks off!  This week, […]

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Notable Quote – Thomas Sowell

by Susan Olsen August 30, 2015

“While capitalism has a visible cost — profit — that does not exist under socialism, socialism has an invisible cost — inefficiency — that gets weeded out by losses and bankruptcy under capitalism. The fact that most goods are more widely affordable in a capitalist economy implies that profit is less costly than inefficiency. Put […]

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Notable Quote – Gerry O’Driscoll

by Skip August 28, 2015

The principle of spontaneous order – or of “undesigned order,” as it might more properly be called – can be viewed as the first principle of economics.  Indeed, James Buchanan has recently gone so far as to suggest that it is the only principle of economics.  The principle is, in any case, a cornerstone of modern economics, whether we […]

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Whoda thunk it – yet another Govt induced Bubble?

by Skip August 14, 2015

Uh-huh, another day, another problem from the Feds (w/contributions from the States, too).  This is what happens when the Smart People decide they know better for everyone than each of those hundreds of million everyones making their own decisions for themselves.  Get that – those in govt believe that they not only have the Smarts […]

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Data Point – Ranking of State by Fiscal Condition (FY 2013)

by Skip July 8, 2015

More information here. (H/T: Mercatus Center)

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