Other Schools of Thought

Dr. Block and Dr. Jared Bernstein (Economic Policy Institute) debate the minimum wage on 8 March 2008.

In sum, the real cause of continually rising food prices is the printing of money by world governments. And the real cause of actual food shortages is the prevention of profitable global trade in food by the ill-advised policies of the governments of the very people who are starving.

There is a further problem: to concede that there are social problems that cannot be corrected without the state is to give up the entire argument over the future of liberty itself.

Samuelson makes grandiose and indefensible claims on behalf of the use of mathematics in economics.

John T.

But even if you are not likely to be among them, consider the loss of privacy, the loss of liberty, the loss of independence, the loss of all that used to be considered truly American, in the course of building prison nation.

Let us not be swayed by politicians out for power or by reporters out to create news where none exists. Facts and economic logic should prevail rather than rhetoric.

Moral hazard is in no way a particular problem of the insurance industry. It can arise in almost any other field of human activity where there is a separation of ownership and control.The important fact is that any form of government interventionism, by its very nature, entails a forced separation of ownership and effective control.

It is paramount for a free society to ensure, in the marketplace of ideas, that only good ones, based on sound theory and history, take root.

But the Keynesian conclusion is rather obvious: the state, through its compulsory means, has to boost the level of aggregate demand in some way to stop the economy from falling into recession.