There are many people out there, especially conservatives, who view themselves as supporters of the free-market. However, many of these people also favor protectionism. In other words, they favor tariffs and import quotas placed on imports to benefit the economy. … Read More
Tag: government intervention (Page 1 of 2)
I have a simple question for all defenders of tariffs. If tariffs benefit the economy, why shouldn’t we place them at every state, county, or even household border? I hope this idea sounds crazy because it is. Obviously everyone would … Read More
No individual alone is capable of producing cardboard boxes. This may seem like an outlandish claim, but it is not. As simple as a cardboard box may seem, there is still not one person capable of producing then by themselves. … Read More
Today, governments around the world enact many public works programs. They build parks, dams, bridges, carvings of politicians faces on the side of a mountain (Mt. Rushmore), or whatever they think will pass politically. The politicians always have their reasons … Read More
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
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
The Great Depression is often cited as one of the great failures of the free market. The conventional wisdom is that President Herbert Hoover was a backwards free-market loving idiot that stuck to his guns and didn’t intervene in the … Read More