For more than two centuries, the doomsday crowd has claimed that capital development will create mass unemployment. And for two centuries, they have been wrong. The same goes for artificial intelligence.
Issues of homelessness and vagrancy in public spaces and on public transportation are made worse because government ownership of the property does not allow for exclusion. Instead, we get the “tragedy of the commons.”
If economics has its Unicorn, it would be the Giffen Good, the good that would seem to defy the Law of Demand. While economists have played around with Giffen Good scenarios, in reality, finding it is even more unlikely than sighting a unicorn.
Conflicts are not inherent in the operation of an unhampered market economy. There are conflicts between citizens because the government steps in and gives special privileges to some and not to others.
Do we have free will? Do only a few of us have free will? Does anyone have free will? Thomas Pink tries to answer those questions, and Dr. David Gordon examines his explanations in this week’s Friday Philosophy.
Thanks to massive government intervention, modern capitalism hardly reflects the free market economy built up by entrepreneurs. What matters now in the business world is the access to those with political power.
Combining binary and triangular interventions, the state coercively taxes citizens to pay for its services, monopolizes certain services, and then is incentivized to engage in paid non-delivery.
How do new or even “radical” ideas become part of the body politic? The Overton Window provides a way of better way of helping us understand how things change.
Neo-Malthusian Paul Ehrlich recently passed away, but not before his false doomsday claims made him a very wealthy man.
A number of countries, including Great Britain, has “right to roam” policies in which people are permitted to go onto private property, often against the owner’s wishes. This is nothing more than giving people a license to trespass.
