Articles tagged as

Economics

Groucho 'karl' Marx

Marx’s Economic Forecasts: Over 150 Years of Failure

Richard W. Fulmer

From atop the flawed foundation of the Labor Theory of Value, Karl Marx made a series of predictions about capitalism that time has proven incorrect. Among these are the immiseration of the masses due to capital accumulation, chronic overproduction, capitalist-driven imperialism, and the inevitable rise of monopolies. Immiseration Even during Marx’s lifetime, capitalism was already … Read more

Dr. Thomas Sowell

Make-Believe Equality Is Unattainable, Costly, and Harmful

Wanjiru Njoya

In his book Intellectuals and Race, the great economist Thomas Sowell excoriates intellectuals for their role in promoting statist social engineering schemes. Sowell defined “intellectuals” as “a particular occupation—namely, people whose work begins and ends with ideas. It is an occupational designation, rather than an honorific title, and implies nothing about the mental level of those … Read more

gizmodo

Do We Have a Govt That Respects What We Can Afford?

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I am reminded of my question to Bruce Curry, “Whose money is it FIRST?” Put another way, “Who has the first claim on the money in my wallet”? Curry was an uber-progressive who frequented GraniteGrok for many years, but that was a question he would never answer. He was clear that what funding the Government … Read more

Karl Marx

Communism: An Historical Snow Job

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The many flavors of communism promise a lot while appealing to peoples’ envy. With your support, they will “stick it to the Man” only to turn around and become the “Man,” leaving nothing to envy. From X, a compilation by WretchardTheCat: What a sell job – a snow job, a promise of everything to everyone, … Read more

Armen Alchian

He Challenged Price Controls in Peking

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Who is going to make better economic decisions? A smallish group of self-deluded “we know all that is necessary/we know better than you do” narcissists or millions of people making self-interested decisions outside of anyone’s control? It is the First Law of Supply and Demand: Prices are competed to that level at which people want … Read more

The Bailout Fallacy

David Gordon

It is always encouraging when a non–Austrian School economist accepts through his own reasoning an essential tenet of Austrian economics. Ruchir Sharma, who is chairman of Rockefeller International, founder and chief investments officer of Breakout Capital, and a well-known economic journalist, is not an Austrian, though he is aware of Friedrich Hayek’s work. He lends … Read more

Liberty and Freedom

Freedom’s Just Another Word for Everything to Lose

Andrew Cline

Among his many memorable contributions to American arts, the great singer-songwriter Kris Kristofferson, who passed away in September, wrote one of the most quotable lines in rock history. “Freedom’s just another word for nothing left to lose.” It’s a fabulous drifter anthem.  It’s also entirely wrong.  Part of the American political left at the time … Read more

Identifying the Causes of Economic Inequality

Op-Ed

By Wanjiru Njoya | Mises Wire – In Race & Economics, Walter Williams emphasizes the importance of causality in understanding racial inequality. He argues that it is not enough to document and track economic inequality — it is necessary also to understand its causes. Without understanding the causes of any perceived problem, any attempts to resolve … Read more

Light buble filament original Photo by Alessandro Bianchi on Unsplash

Enlightened Capitalism

Kensley Vitoria

The events of the past decade have underscored one clear reality, corporations are overly greedy and must be checked by governments. Indeed, that is the sole purpose of good government when it comes to overseeing the marketplace— to prevent large corporations from preying on the citizens.

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Notable Quote – “…A Battle Between Freedom and Subjugation”

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Emphasis mine: Condemning capitalism is nothing new in this country. We’ve heard the angry criticisms all of our lives, and they weren’t novel when we were young. It’s tragic, really, that so many in the West see the tension between “capitalists” and their ideological opponents as merely a conflict between ideas about which economic system … Read more

the-first-thanksgiving Jean Leon Gerome Ferris 1912 Weirs Times

A lesson from the First Thanksgiving

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Updates below.

I like reading John Stossel as often he proclaims a down to earth message with common sense appeal.  In addition, what he talks about is grounded in results rather then an ideological background.  When I saw his column, so apropo for today, it does need to be reviewed.

Why?  Allow me to inject a bit of what some might consider politics on a day given over for other-than-politics.  The lesson learned by the Pilgrims is one that we should be paying close attention to, as we are looking to select a new leader, just as the Pilgrims selected Bradford as their new leader. I see the Democratic candidates all running to socialistic tendancies more and more – think “it takes a village” on steroids.  Yet, given history’s results on “the common good” and the hatred that seems to be simmering on the Left for capitalism, sometimes we do need to pay attention to what history tells us of certain choices and actions, lest we repeat them over and over….

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Grayscale Photo of People at Market by Danilo Ugaddan Pexels Free to use

Notable Quote – Radical Ideas CAN be the Right ones!

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History has shown that voluntary economic trade between individuals, without the “guiding” Hand of the Government, has lifted billions out of poverty and onto the road of a higher standard of living at lower costs and higher quality compared to when markets were controlled by others and such decisions were made beforehand.

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