In Memoriam: Walter E. Williams, 1936-2020

– December 5, 2020

“Williams was a towering intellect who made the economic way of thinking come alive to generations of undergraduates, graduate students, readers, and anyone who would listen. He suffered no fools, which incidentally appears as the title of the 2014 Free to Choose Network documentary on his life and work. To adapt an African proverb, the best time to start reading Walter Williams’ work is twenty years ago. The second best time is right now.” ~ Art Carden

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You’re Not Underpaid ‒ But LeBron Is

– December 5, 2020

“The value of your work isn’t what you say it is; it’s what others say it is, and more so what they’re willing to part with to get that. Even without the particular NBA rules LeBron couldn’t stand up and say his basketball skills are worth a trillion dollars a year. That’s for others to decide ‒ team owners, managers, and fans ‒ not him.” ~ Joakim Book

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No, Keynes Did Not “Sit Out” the Debate on Eugenics

– December 4, 2020

“By politely sidestepping these issues in Keynes and other historical figures, we do a disservice to the past. Carter has unfortunately reduced Keynes’s eugenics to a subject that is best not spoken about, and on the rare occasion it is raised as Cowen’s interview did, something to be actively downplayed and dismissed.” ~ Phillip W. Magness

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I, Chaos: The Simple Anatomy of an Interventionist Snowball

– December 4, 2020

“Intervention tends to beget intervention, which tends to beget still further intervention. In the long run, we are all worse off than we would have been had we just been able to avoid getting the government involved in the first place.” ~ Art Carden

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The Passing of Esteemed Economist Walter Williams

– December 3, 2020

“Today, now more than ever, it is men like Walter Williams who are sorely needed to protect the ideas of freedom and prosperity. His work and efforts have educated countless people from the latest generation of economic thinkers to the average citizen who are now better equipped to understand the world around them. Perhaps it was his intention that through his tireless efforts he will have inspired countless more to pick up where he left off. If that was the case, I think he would be pleased to know he has succeeded.” ~ Ethan Yang

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Twelve Principles of International Trade: Part 1

– December 3, 2020

“Although it’s possible to imagine bizarre scenarios in which a country’s rising trade deficits might be evidence of economic decline, none of these scenarios is realistic in the case of the United States. American trade deficits are evidence of American economic health, at least relative to many other countries, rather than of economic hardship.” ~ Donald J. Boudreaux

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Dr. Friedman Goes to South Africa

– December 3, 2020

“Milton Friedman in South Africa is a fascinating product of one of Friedman’s ventures during a controversial time. It is worth reading for anyone interested in understanding Friedman specifically or what Andrei Shleifer called ‘The Age of Milton Friedman’ more generally.” ~ Art Carden

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The Hype Surrounding Environmental, Social, and Governance Investing

– December 3, 2020

“The shares of ESG companies will get wicked expensive as more and more money piles into them. At that point, with the expectation of low returns on ESG and high ones on ‘wicked’ stocks, virtue investors and ESG fund managers will have to eat palpably lower returns or creatively reclassify ‘wicked’ companies to get higher performing stocks into their portfolios, i.e., destroy the meaningful differentiation between ESG and ‘wicked’ companies once again.” ~ Robert E. Wright

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The Great Reset: Between Conspiracy and Wishful Thinking

– December 2, 2020

“It is quite bizarre that we tend to divide the world between awful private interests and those who use glowing words. Perhaps glowing words can be aligned with some private interests too.” ~ Alberto Mingardi

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Don’t Confuse Free Markets with the Interventionist State

– December 2, 2020

“The important task for those who value personal freedom, economic liberty and the free market economy is to disabuse our fellow citizens from thinking that what we have is a fully capitalist system, and to appreciate that what critics of capitalism call for and want in the form of even more and bigger government would only magnify the corrosive trends already in play in the modern world.” ~ Richard M. Ebeling

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Communities in the Pandemic

– December 1, 2020

“Are local communities self-organizing because politics is being unduly constrained, limited in its spending capacity, and disempowered, or are they self-organizing because, in spite of consuming more than a third of GDP (in England), governments are simply lacking the flexibility and the responsiveness to deal with people’s demands, particularly when they are new and when they are changing?” ~ Alberto Mingardi

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Value Is What I Say It Is

– November 30, 2020

“The disdain for private commerce pours through the pages of The Deficit Myth, but never so much so as when Kelton imagines the transition for a newly unemployed worker. Rather than ‘sort boxes at a private retailer,’ she says, the worker in her scheme will ‘perform a useful job in public service.’ Everything that’s wrong with the (left’s) modern overhaul of value theory is included in that sentence.” ~ Joakim Book

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