The Great Redistribution: Who Benefits From Ruthless Capitalism?
The two ugliest entries in America’s anti-capitalist vocabulary might be “ruthless capitalism” and “speculation.” Ruthless — or any other distasteful adjective of your choosing — capitalism is a mythical kind of heartless profit seeking where owners an …
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The Demonization of Private Equity
Labeling an entire industry as destructive and evil is detrimental to the investors, communities, and hundreds of millions of people worldwide that benefit from its activities.
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Bourbon for Breakfast After 10 Years
It was last year when I was invited to address a dinner party. I arrived to find a copy of this book at every place setting. I was momentarily mortified: this is surely not my best material. What even is in this book? This attitude does reflect my outl …
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Why We are Getting More for Less
Thankfully, capitalism is not wrecking the planet. At least that’s the message in a brand-new book with the stunning title More From Less by Andrew McAfee
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Business Ethics and Morality of the Marketplace
Who do people consider to be less ethical or honest than either telemarketers or used car salesman? If you said Washington politicians, you’d be right on the button. According to Gallup News Services, members of Congress are right at the bottom of perc …
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Five Myths Propagated by Local-Food Activists
By promoting the increased production of local food that does not offer a compelling quality/price ratio while shunning modern production and processing technologies, activists ensured that our food supply would become more expensive, environmentally damaging, and hazardous to our health .
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The Struggle to Get Education Away from the State
Education reform is a perennial hot-button issue, with teachers’ unions like the American Federation of Teachers and the National Education Association spending vast sums to elect their preferred candidates and lobby them for reforms they find favorabl …
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The Wonderful Surprises of Comparative Advantage
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 …
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Economics Is the Great Reality Check
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.
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Krugman’s Zombie Idea: We Owe It to Ourselves
Paul Krugman claims that the national debt doesn’t matter because “we owe it to ourselves.” This “zombie idea” is dead wrong.
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What Is Comparative Advantage?
An economic entity’s technical ability to produce some particular product is, by itself, irrelevant for determining if that entity should produce that product itself or, instead, acquire that product by first producing something else and then trading that something else for the product.
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How Kids Create Wealth By Trading Halloween Candy
The post-Halloween candy market is a commercial society of traders buying low and selling high, and it’s a microcosm of what happens when market exchange works well.
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