Posts tagged: Free Market Economics

A Dictionary for Economics Students

In the┬áLexicon of Economic Thought, readers can find simple single-page entries on 176 economic or social topics, ranging from bailouts to Sunday shopping laws to academic tenure. Walter Block and Michael Walker give the perspective of a serious economist, not just a political pundit. So, in the case of academic tenure, they go through the […]

Sunday October 1st, 2017 in , | No Comments »

Thatcher’s Sin

Margaret Thatcher is today being blamed for the economic crisis because of the “selfishness” of her policies from 1979 to 1990. Yet the fact is that public spending (health and welfare) rose 32%. Her sin was to simultaniously increase the private sector at an even faster rate, making public increases less in comparison to private […]

Tuesday May 1st, 2012 in , , | No Comments »

Robber Barons

Just who did the robber barons rob when they lowered the prices of their products below competitors? We must differentiate between the true robber barons and those business leaders who earned their fortunes by delivering solid products at low prices. We must be careful in how we apply this pejorative lest we make it another […]

Tuesday June 7th, 2011 in , , | No Comments »

Western Europe’s Economic Share Falling

Western European leaders brag about how well their socialist system works, basing their bragging on good times in the previous generation. Workers in these countries work far less hours than US workers, for instance. But what they neglect to admit is just how much $13 billion could buy you after WWII when the US infused […]

Monday December 13th, 2010 in , , | No Comments »

Ehrlich’s Easy Honor: “Say what we want to hear”

Paul Ehrlich is the guy who lost a $10,000 bet in 1990┬áto the economist Julian Simon that prices would rise on the five core commodities (copper, nickel, chrome, tin, and tungsten) in the next ten years (1980-1990). Although world population increased by 800 million in the 80s, every single one of Ehrlich’s metals went down […]

Economic Actors

Every single person is an economic actor. All of our buying decisions change the world. Buy a Butterfinger and you are promoting a candybar market that has reached Africa. Governments are also economic actors. They use their inordinate power to create politically beneficial markets and destroy incorrect realities in the market. How much more beautiful […]

Tuesday April 27th, 2010 in , , | No Comments »