Everyone knows that socialism is newly fashionable as an idea and system. With that has come a certain level of whitewashing of the real history. I’m not just speaking of the totalitarian variety with its poverty, inflation, starvation, and mass death. …
Human society is permeated with comparative advantage. When each person specializes in performing that task, or small set of tasks, for which he or she has a comparative advantage — and then exchanges the fruits of this labor for goods and services pro …
Global per capita income has increased from a little less than $4,000 a year in 1966 to almost $17,500, in inflation-adjusted dollars at the present time. That represents a 372 percent increase in the average income of everyone on this planet in only 50 years.
What angers most people about climate activists is not their goals, but their elaborate system of doublethink, their profound cognitive dissonance, and the truly fascinating ability to rationalize their own behavior.
Unlike the competition in games where some lose what the victors win, and unlike war where even the winner may lose more than he gains, freely competitive economic behavior enables each participant t.o gain the greatest possible reward by voluntarily cooperating .
Government meddling in the auto industry has killed beauty, innovation, and passion; giving people their freedom to explore back is what will save it.
You can have your Hulu, your Netflix, your Disney, your Amazon, your YouTube, your movies at the theater, or your dusty old books. Everyone gets to win in a vibrant market order, consumers and producers both.
Economics is a ubiquitous and conspicuous set of limits that cause everyone to buck up, cease our simpleton solipsism, face what’s true, become disciplined, get adaptable outside our embedded identity, live within our means, adopt solid values, and lead a good life.
Consumer sentiment maintained a generally high level by historical comparison in early November.
The Federal Reserve is subsidizing the Treasury. The apparent trouble in overnight markets appears to have provided an excuse to quietly reengage in the now decade-old program of support.