Who should control money? This is a crucial question, as money is the central economic institution in every economy. It is absolutely necessary to facilitate the modern division of labor. So who should have control over money? Should it be … Read More
Category: Economics (Page 2 of 2)
In modern economics (the economics taught in public schools and universities) there is one fallacy that pervades almost all economic thought. That is the broken window fallacy. It was used and expanded upon extensively by economist Henry Hazlitt.
The fallacy … Read More
Labor unions are a common organization in today’s world. There are many industries that have labor unions to protect workers rights. (Labor unions aren’t the best way to do that, but I digress.) However, these labor unions have unintended consequences … Read More
Many Americans today, especially Republicans, hold the view that it is better to buy goods that are made in America. As a result, they support tariffs on imported goods, so that consumers are encouraged to “buy American.” Somehow they think … Read More
In our world there are two base mediums of exchange. One is time the other is money. You can pay for things using either one. The principle of paying in money is “high bid wins” and the principle of paying … Read More
Almost everyone can agree that tax-supported churches are a bad idea. This is a common view in America. However, most people approve of tax-supported schools. But, are tax-supported churches and tax-supported schools actually different in principle? There are many similarities … Read More
Garage sales are a classic way to declutter your house and makes a little chunk of change doing it. They are great for the poor especially because they need to shop for discounted items. But, would the poor benefit even … Read More