Posts in Economics

Murry Rothbard on harmful policy.. 1. Prevent or delay liquidation. Lend money to shaky businesses, call on banks to lend further, etc. 2. Inflate further. Further inflation blocks the necessary...

A minimum-wage scheme is a tariff and price fixing method against people’s labour and ability to sell themselves freely. The major fallacy in this discussion is one that has occurred not just now,...

George Akerlof did us a great disservice with his unscientific rhetoric. A market for lemons and other market failures seem plausible, but how about testing the hypothesis? Testing using empirical...

Let us investigate a centralised push to “export agriculture and industrial products, reverting to tangible goods production”, as is suggested from time to time. Most of the growth in the last 25...

Central governments are and remain a net supplier of macroeconomic instability. This is a direct result of the institutions and policy tools created to conform to a Keynesian vision. These are now...

http://bastiat.org/fr/cqovecqonvp.html Basically, the GDP argument is based on the “Broken Window Falacy” of Bastiat. There are English versions of it (though I prefer the original). Old J M...

In 2012, the US trade with Sub-Saharan Africa (SSA) came to a total of $48 billion [1] as a combination of both imports and export to the nations. This was mostly in the form of machinery and...

Some argue that capitalism fails as it does not lead to equality. That is a fallacy we need to avoid. The only equality we can achieve is one of equal destitution and even that would be one beyond...

Now, it is generally taken [1] by rational economists without an agenda (and even most of the honest ones with an agenda) that unlike any expenditure being beneficial, that is, it miraculously...

Social security was the start of a crash every bit as large as the 1929 stock market correction. Yet, this event seems to be overlooked and forgotten. This leaves us with a constant set of...