Sunday, February 18, 2018

Economics

Freedom, Protectionism, and Pipe Tobacco

One of my haunts is a local tobacco shop, where I regularly drop in to smoke a few bowls of fine pipe tobacco and talk to a fine group of friends and acquaintances. I...

Flying Blind, Part 1: How Bubble Finance Destroys Economic Efficiency And Rationality

You could say thank heavens they have finally stopped buying the "dip". Then again, there apparently aren't any left! That's the case, anyway, even if your notion of a "dip" is any day the market doesn't go up. So far there has been exactly...

Capitalism’s Biggest Enemies Are Capitalists

For most of human history, mankind’s standard of living remained perilously close to a bare subsistence level. Then, a few hundred years ago, capitalism brought with it the Industrial Revolution that has generated unprecedented...

TGIF: Trump versus the World

According to the many-worlds interpretation of quantum mechanics, somewhere President Donald Trump, instead of saying, "Why do we want all these people from Africa here? They’re shithole countries.... We should have more people from Norway.,"...

How the GOP Tax Bill Bails Out Obamacare

The GOP Tax Bill has been passed by Congress and signed by President Trump, proving that Republicans are indeed capable of passing more than month-long spending extensions (if only just). The Tax Cuts and Jobs...

TGIF: Anatomy of a Tax Cut

Taxation is theft, I know, but the repeal of taxation, which would mean the repeal of the state, is not on the menu today. Sorry about that. So for now we must talk about...

Birthday of a Bloodbath

This October-November 2017 marks the 100th anniversary of the launch of the Bolshevik Revolution in Russia — the bloody communist state that would produce a political-ideological killing spree unlike any the world has ever seen. And...

Money-Supply Growth Falls Yet Again, Dropping to 116-Month Low

Growth in the supply of US dollars fell again in September, this time to a 116-month low of 3.4 percent. The last time the money supply grew at a smaller rate was during January...

GOP Tax Plan Increases the Most Insidious Tax

Last Thursday, congressional Republicans unveiled their tax reform legislation. On the same day, President Trump nominated current Federal Reserve Board Governor Jerome Powell to succeed Janet Yellen as Federal Reserve chair. While the tax...

Do Not Fear Innovation and Automation

Around 3000 BCE, written language emerged for the first time in human history. The rise of city-states engendered an ever-growing economy, and people could no longer maintain transactional records solely in their minds. Economic...
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