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Keyword: economics

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  • No, Tariffs are Not 'Domestic Sanctions'

    06/11/2018 11:38:09 AM PDT · by Thalean · 98 replies
    American Greatness ^ | June 11, 2018 | Spencer P Morrison
    The Democratic People’s Republic of Korea (North Korea) is not democratic—it’s barely even a republic. The same goes for the Democratic Republic of the Congo, and the Lao People’s Democratic Republic (Laos). In fact, if a country includes democratic in its name, you can safely assume that it’s not democratic. This is a classic example of, what I like to call, the wisdom of irony: things are often not what they claim to be, and the more they claim, the less they are. Consider Reason Magazine. In a recent piece, columnist A. Barton Hinkle argues that tariffs are sanctions, since...
  • Karl Marx, Free Trader

    06/06/2018 8:55:11 AM PDT · by Thalean · 14 replies
    American Greatness ^ | June 2, 2018 | Spencer P Morrison
    Marx believed that international free trade, or perhaps more accurately, Ricardian economic globalization, would pave the way for a glorious proletarian revolution. Specifically, Marx thought that free trade would increase wealth inequality and reduce wages for the majority of people, and that this tension inevitably would lead to conflict. While I hate to admit it, Marx is broadly right on this point. International free trade has indeed increased wealth inequality and reduced wages for the majority of Americans. In fact, the median American household was richer in the 1980s than today (better technology aside). Part of this is explained by...
  • SOCIALISM REBUKED: A reply to Francesca Fiorentini

    06/03/2018 6:29:15 AM PDT · by snarkpup · 9 replies
    Henrik Jönsson (YouTube channel) ^ | June 1, 2018 | Henrik Jönsson
    Last week I came across a viral video by the the AJ+ Network featuring the very fotogenic leftist activist Francesca Fiorentini. Their video is apologetic to socialism and designed to turn American voters to its cause. The video manages to be both dishonest and clueless at the same time. This is my rebuke and reply to the apologetics of Socialism.
  • In Britain, Austerity Is Changing Everything (barf Alert)

    05/29/2018 8:15:19 AM PDT · by Ennis85 · 24 replies
    New York Times ^ | May 28nd 2018 | New York Times
    After eight years of budget cutting, Britain is looking less like the rest of Europe and more like the United States, with a shrinking welfare state and spreading poverty. PRESCOT, England — A walk through this modest town in the northwest of England amounts to a tour of the casualties of Britain’s age of austerity. The old library building has been sold and refashioned into a glass-fronted luxury home. The leisure center has been razed, eliminating the public swimming pool. The local museum has receded into town history. The police station has been shuttered. Now, as the local government desperately...
  • This Brazilian Economist Once Marched for Socialism, But Became a Free-Market Hero

    04/26/2018 6:48:24 PM PDT · by arderkrag · 1 replies
    Foundation for Economic Education ^ | April 12, 2018 | Rafael Ribeiro
    Nothing is so contagious as example; and we never do any great good or evil which does not produce its like. — Francois de la Rochefoucauld (1613-1680). Heroes for liberty are not particular to any region of the world or to a particular time period or to one sex. They hail from all nationalities, races, faiths, and creeds. They inspire others to a noble and universal cause—that all people should be free to live their lives in peace so long as they do no harm to the equal rights of others. They are passionate not solely for their own liberty,...
  • Was Finland’s Universal Basic Income Program A Failure?

    04/25/2018 10:46:49 AM PDT · by bananaman22 · 19 replies
    Safehaven.com ^ | 04-25-2018 | Josh
    While it lasted, Finland’s social experiment that gave 2,000 unemployed people nearly $700 a month with zero strings attached was a decent take home for those who enjoyed its benefits over the 15 months—but the authorities say it’s not working and are moving to wind it down by 2019. In January 2017, Finland became first country in Europe to launch a universal basic income program, randomly choosing 2,000 individuals without jobs, aged 25 to 58, and giving them a fixed monthly income of $685 without the usual condition that they actively seek employment. It was a unique social experiment that...
  • Women most responsible for gender pay gap

    04/11/2018 9:57:36 AM PDT · by VegasVictor · 34 replies
    Las Vegas Review-Journal ^ | April 11, 2018 | Victor Joecks
    The people most responsible for the much-hyped gender pay gap are women. Tuesday was Equal Pay Day, a chance for liberals to lament that women in America make only 80 cents — or 81 cents in Nevada — for every dollar a male makes. Activists say a woman has to work more than 15 months to make as much as a man did in 2017. The hyper-liberal National Partnership for Women and Families calculates this by comparing the median annual earnings of men and women working full-time. Democrats and the national mainstream media take this as proof positive that America...
  • Black Political Power Means Zilch

    04/11/2018 8:50:17 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | April 11, 2018 | Walter E. Williams
    It's often thought to be beyond question that black political power is necessary for economic power and enhanced socio-economic welfare. That's an idea that lends itself to testing and analysis.Between 1970 and 2012, the number of black elected officials rose from fewer than 1,500 to more than 10,000. Plus, a black man was elected to the presidency twice. Jason Riley, a fellow at the Manhattan Institute, tells how this surge in political power has had little beneficial impact on the black community.In a PragerU video, "Blacks in Power Don't Empower Blacks," Riley says the conventional wisdom was based on the...
  • The Baguette Shop: A Parable About Trade

    04/06/2018 1:53:40 PM PDT · by Thalean · 6 replies
    American Greatness ^ | April 5, 2018 | Spencer P Morrison
    You own an artisanal bakery that makes the best $2 baguettes in town. Business is booming. In fact, business is so good that a German bakery opens up across the street. You’re not worried: their $3 baguettes are good, but not that good. You’re sure you can outcompete them in good ol’ American fashion—and let’s be honest, who’s ever heard of German baguettes? A month later you notice baguette sales are down. Why? You walk across the street to compare sales with the German bakery, and you see a sign: “Baguettes Now $1.” How could they possibly afford to bake...
  • Discrimination and Disparities

    04/04/2018 6:45:08 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | April 4, 2018 | Walter E. Williams
    I don't mind saying that this column represents a grossly understated review of "Discrimination and Disparities," just published by my longtime friend and colleague Dr. Thomas Sowell. In less than 200 pages, Sowell lays waste to myth after myth not only in the United States but around the globe. One of those myths is that but for the fact of discrimination, we'd all be proportionately represented in socio-economic characteristics, such as career, income, education and incarceration. The fact of business is that there is no evidence anywhere on earth, at any time in human history, that demonstrates that but for...
  • Yes, Ben Shapiro is Still Wrong on Tariffs. Here’s Why

    03/19/2018 12:50:03 PM PDT · by Thalean · 53 replies
    American Greatness ^ | March 19, 2018 | Spencer P Morrison
    Shapiro claims that I favor “total state control of the economy” because I think it is possible to “simply pick the best industries and subsidize them.” Apparently, tariffs are Communism, and I am Stalin. . . Shapiro has it entirely backward: tariffs are the form of taxation most consistent with small government. . . tariffs are antithetical to big government because they preclude socialism. How? Tariffs make imports expensive. This encourages domestic production and discourages offshoring—thereby boosting demand for American labor. Basically, tariffs create stable jobs and increase wages for American workers... The key to solving this puzzle is recognizing...
  • Interstellar Trade Is Possible

    03/16/2018 9:36:20 PM PDT · by LibWhacker · 58 replies
    Tough SF ^ | 3/21/17
    Interstellar Trade Is Possible In this post, we will detail a method for developing interstellar trade using near-future technologies and commercially realistic requirements. We will then look at the various outcomes, challenges and development models that will follow the first interstellar operation. There is now a Summary at the end of the post. A tough taskTravel between stars is hard. The distances are measured in trillions of kilometers and the space between destinations is not really empty. Attempting the crossing at interplanetary speeds is ludicrously slow; the only way is to reach velocities measured in percentages of the speed of...
  • How China and Hong Kong’s Currencies Were Shaped by Spanish, Mexican Silver Dollars

    02/25/2018 6:36:08 PM PST · by nickcarraway · 7 replies
    South China Morning Post ^ | Wednesday, 07 February, 2018 | Stuart Heaver
    Many modern East Asian currencies have roots in Ming dynasty trade and Chinese traders’ faith in the Mexican silver dollar. Attempts to dislodge it, such as the Hong Kong-minted silver British dollar, were not always successfulAt the antiques market near the old Qingjing mosque in central Quanzhou, a city in China’s south-eastern Fujian province, it is sometimes possible to purchase unusual silver objects that reveal much about the currencies in circulation in East Asia today. On one stall, crammed with opium pipes, blue-and-white ceramics and jade trinkets, is a small, dome-shaped lump of metal in a rusty tin box. It...
  • State tax breaks: who benefits?

    PHOENIX -- Got stocks, land or similar investments? The state House voted Wednesday to give you a tax break when you sell those items. But how much you will pocket depends, quite frankly, on how much you make. And the 183 richest Arizonans -- those making more than $5 million a year -- will each walk away with an average of an extra $27,000. At issue are capital gains. That's the difference between what people pay for an investment against what they make when it is sold. By state law, the profits on anything held for less than a year...
  • America Could Cut Immigration by 90 Percent & Retain 100 Percent of the Economic Benefits

    02/23/2018 8:05:07 PM PST · by LibertyFound · 20 replies
    National Economics Editorial ^ | February 21st, 2018 | Spencer P Morrison
    Applying the Pareto Principle to the Immigration Debate Have you ever noticed that most of the people you work with are useless? Sure they seem busy, but most of them get precious little done. In fact, some of even them end up making work for model employees, like you—don’t they? If you’ve experienced this, then you understand how the Pareto Principle works—you just didn’t know it had a name. Also known as the 80:20 rule, the Pareto Principle stands for the idea that causality is not always linear: that is, there is not always a one-to-one relationship between cause and...
  • Econ-Talk; Russ Robert's talks with Jordan Peterson

    02/19/2018 8:34:54 AM PST · by Voption · 1 replies
    Jordan Peterson, author of 12 Rules for Life, talks about the book with EconTalk host Russ Roberts. Topics covered include parenting, conversation, the role of literature in everyday life, and the relationship between sacrificial rites and trade.
  • The "radical" case for abolishing student debt

    02/13/2018 10:15:29 AM PST · by Oldeconomybuyer · 52 replies
    CBS "News" ^ | February 13, 2018 | By AIMEE PICCHI
    The GOP tax bill is providing a $1.5 trillion windfall, which will mostly be enjoyed by the rich and corporations. But what if there were another way to spend that money that could benefit more middle-income Americans while eliminating some of the country's inequalities? Look no further than getting rid of America's student debt, argue researchers at Bard College's Levy Economics Institute. They examined the potential impact of canceling the $1.4 trillion in student debt that 44 million Americans are carrying. Erasing it would be a "radical" solution to the student debt crisis, but it would pay off in bountiful...
  • Mass Immigration Hurts Black America the Most

    02/05/2018 1:40:12 PM PST · by Thalean · 9 replies
    National Economics Editorial ^ | Feb 5, 2018 | Spencer P Morrison
    "There’s no such thing as a free lunch." In the nineteenth century American bar owners offered free lunches as a way to attract noontime patrons. Inevitably, the diners would get thirsty, and buy expensive drinks—they paid for their lunch one way or another. Thus the above expression. Prosaic though its origins may be, the phrase captures a deep and omnipresent truth: everything has a price, an opportunity cost, a trade-off. This is true of lunches, and it’s true of America’s immigration policy. Despite what The Economist claims, immigration does not benefit everyone—there are winners and losers. In America’s case, the...
  • The profitable business of selling to the hard-up

    02/05/2018 9:28:04 AM PST · by rightwingintelligentsia · 37 replies
    The Economist ^ | January 25, 2018
    “THEY want to build one every four miles,” says the cashier at Dollar General, a discount shop, in Lewisburg, a small town in the rolling hills of central Tennessee. Situated on a big parking lot, next to a provider of payday loans open 24 hours a day, a supermarket chain called Priceless and Dirt Cheap, another southern chain of discount shops flogging the unsold or returned merchandise of other retailers, the shop is one of three Dollar Generals in Lewisburg. Tennessee is the home state of Dollar General, which in recent years overtook its rivals to become the retailer of...
  • A Reflection on "What Leftists Don't Understand About Economics"

    01/28/2018 11:49:41 AM PST · by huckfillary · 9 replies
    Artful Dilettante ^ | January 28, 2018 | Artful Dilettante
    My comments are in response to an article which appeared yesterday entitled, What Leftists Don’t Understand about Economics, by Daniel Carter, of Investment Watch. Link below. Where do you want me to start? Liberals and their philosophical/political brethren understand little if anything about economics, and even less about the principles of Natural Law and Natural Rights which underscore free-market capitalism. Volumes have been written about Natural Rights beginning with Thales of Miletus in the 6th century B.C. He and the Seven Sages of Miletus, rather than the later Greeks Plato and Aristotle, are credited with giving philosophical birth to the...