CNN’s Error Inadvertently Gets it Right

A recent headline at CNN.com said “Fed bails out GMAC with $6 billion.” Since I had heard it was the Treasury department funding the GMAC giveaway, I had to check the story to make sure this wasn’t another $6 billion being thrown down the drain. Fortunately, CNN just got it wrong: it was the . . . → Read More: CNN’s Error Inadvertently Gets it Right

The System of the World (Part I)

What is the System of the World? One social scientist defines it as follows:

“…a social system, one that has boundaries, structures, member groups, rules of legitimation, and coherence. Its life is made up of the conflicting forces which hold it together by tension and tear it apart as each group seeks . . . → Read More: The System of the World (Part I)

Scarce Resources

Assuming the continuance of free people and free markets, the trend toward less scarcity and lower real prices of all resources will continue, as it has from the beginning of human civilization. . . . → Read More: Scarce Resources

George Bush and the Bailout Loophole

A looming question has busied the minds of the general public regarding initial funds given from the $700 billion bailout account. We observed that several financial institutions received unconditional aid. There were seemingly absolutely no strings attached in Paulson’s plan. As the situation unfolded, criticism led a few CEO’s to cut their pay and . . . → Read More: George Bush and the Bailout Loophole

The Immorality Of Egalitarianism

Many people believe that egalitarianism is the moral high ground and use moral arguments to justify government intervention and theft. Itis not the high ground, but is actually based on entirely immoral precepts. . . . → Read More: The Immorality Of Egalitarianism

The Economic Fallacy of Price Controls

A renowned economist once said, “Even capital punishment could not make price control work in the days of Emperor Diocletian and the French Revolution” (Mises). Unfortunately, the monarchs, bureaucrats, and legislators of yesterday and those of today have yet to heed those words. As a couple of noted researchers also said, “Price controls are . . . → Read More: The Economic Fallacy of Price Controls

Guilt – The culprit behind lower holiday sales

Shows how to give someone the gift of Guilt Free shopping. . . . → Read More: Guilt – The culprit behind lower holiday sales

When Up is Down and Rocks can Fly

The New York Times published an article today placing blame on the Bush Administration for the current (latest) global economic meltdown.  The staff piece recounts the actions of George Bush- in championing home ownership, in allowing banks, brokers, and finance companies to expand home lending, and in failing to reform Fannie Mae and Freddie Mac- . . . → Read More: When Up is Down and Rocks can Fly

The Value Of Counterfeit Money

Counterfeiting money is illegal because the counterfeiter takes value without giving any real value in return. The same applies whether to individuals or central banks. . . . → Read More: The Value Of Counterfeit Money

How a Free(d) Market Would Give Us Zero Unemployment

One persistent problem in America’s political discourse is the misuse of the term “free market.” So-called “conservatives” like President Bush and his Republican acolytes like to claim that they support the “free market,” and liberals, normally skeptical of everything that comes out of conservatives’ mouths, take their word for it. The Right defends the . . . → Read More: How a Free(d) Market Would Give Us Zero Unemployment