Topic: Economic Education

Why Principles Still Matter in a Pandemic

– September 19, 2020

“A healthy and prosperous society is not guaranteed by the size of its wealth, the capabilities of its technology, or the perceived intelligence of its experts. Rather it is upheld by the promulgation of ideas. Ideas rooted in free enterprise, limited government, individual dignity, and the rule of law. America, the most powerful polity in human history, brought itself to its knees by turning on these proven principles in the midst of a pandemic that freer countries handled far better.” ~ Ethan Yang

Authoritarianism, Crisis, Economic Education

Be Serious, You Don’t Solve Lockdowns With More Central Planning

– September 18, 2020

“Stated simply, the economy is weak because politicians imposed command-and-control lockdowns, and having done that, they poured gasoline on a fire of their own making with trillions more in spending. Let’s not vandalize common sense with more of what’s already failed. The only economic relief is an end to the lockdowns.” ~ John Tamny

Capitalism, Economic Education, Economic History

A Comment on the New History of Capitalism

– September 18, 2020

“Much of the current debate revolves around an emergent historiographical school. Usually referred to as the ‘New History of Capitalism’ (NHC), this school has produced a sizable body of research contending that the institution of slavery was a central building block of American capitalism. At the same time however, the NHC literature has come under intense criticism from economic historians who have long studied the same subject, and who question both its use of evidence and its conclusions.” ~ Phillip W. Magness

Economic Education, Government, Policy

New Jersey’s Transaction Tax Grab

– September 17, 2020

“The way in which political figures view financial markets are a litmus test for their overall understanding of economics.” ~ Peter C. Earle

Economic Education, Free Markets

What’s the Right Mix of Money and Drugs for Your Employees?

– September 17, 2020

“There isn’t a ‘right’ combination of wages, benefits, and other perquisites, and the pattern of things that ‘work’ for people is not planned by a central authority. It emerges from trial and error in the market.” ~ Art Carden

Economic Education, Free Markets, Technology

NASA is Paying for Moon Rocks. The Implications for Space Commerce are Huge

– September 16, 2020

“In ancient times, mankind extended the division of labor across tribes, turning enemies into friends. Later came trade across national boundaries, with similar largely peaceful effects. Now, humans are prepared to extend it still further: into the final frontier. Doux commerce is coming to the stars. NASA just made a ‘giant leap for mankind.’ Everyone who cares about human wealth and welfare should heartily thank them.” ~ Alexander W. Salter & David R. Henderson

Crisis, Economic Education, Government

Yes, 2021 Could Be Worse

– September 16, 2020

“Buck up, buckaroos, because 2021 is just a cultural construct anyway. The world will improve not on an arbitrary day but when you all decide to make it a better place.” ~ Robert E. Wright

Authoritarianism, Crisis, Economic Education

Deeply Impacting the Economy

– September 15, 2020

“When the world suddenly changes, we want an economic system that adjusts and reflects our updated knowledge and desires. That requires prices to move, quantities to change, bankruptcies to occur and a whole lot of profiteering – whether in our world or in fictional worlds.” ~ Joakim Book

Economic Education, Free Markets, History

Disaggregating Keynes Demonstrates Macro Delusions

– September 15, 2020

“Which view of man prevails – man seen as a reasonable but imperfect person who can guide and direct his own life, or man seen as an irrational being constantly needing someone else to direct and dictate how and what he does – will determine the future for mankind, not only out of the current economic crisis, but also for the many years and decades to come.” ~ Richard M. Ebeling

Economic Education, Free Markets, Policy

Why Do Basketball Players Make More Than Teachers?

– September 14, 2020

“As an educator myself, I am happy to grant that teachers produce value for students, and for society. But even the most marginal teacher, at the worst and least motivated public school, can’t-wait-for-retirement clock puncher, makes far more than the marginal basketball player. You can’t compare the marginal unit of water, or teachers, with diamonds.” ~ Michael Munger

Crisis, Economic Education, Government

Coase and Covid: The Individualized Option

– September 14, 2020

“The case, in short, for government-orchestrated NPIs is simply invalid. Why was Coase ignored and the individualized option never considered? And why will so many people continue to reject it?” ~ Donald J. Boudreaux & Lyle D. Albaugh

Authoritarianism, Economic Education, Government

California’s Dreaming

– September 13, 2020

“AB 2088 could break the back of the Donkey party or unleash another dangerous wave of mostly peaceful protests throughout the land. This time, though, the fatal arrogance comes not from London but Cali you-know-what fornia.” ~ Robert E. Wright