The minimum wage is just another weapon in the arsenal of the misguided progressive trying to “help” the poor. People whose productive value is less than the minimum wage are de facto unemployable. They are denied the opportunity to gain experience and skills, and their exclusion from the job market is a net loss to society.
The Bernanke Fed followed Keynes’s advice. The way to avoid a new slump is to keep interest rates low for as far as the eye can see as a way to overcome a lack of “animal sprits” and thus sustain a quasi-boom. As long as inflation is low, no harm, no foul. In fact, as the thinking goes, more inflation might be beneficial.
Pope Francis’s compassion for the poor is overwhelmed by his confusion about the market economy. Economic liberty has done more to elevate the living standards of the general population than any other form of social organization in history. It is the only system which does not trust in the goodness of those with power.
The myth endures that after Hitler inherited a country ravaged by the Great Depression in 1933, his aggressive policies turned the nation around and created an economic powerhouse. But the truth is something far different. It became a story of rationing, shortages, and misery in the Third Reich.
Tom Woods, guest host of “The Peter Schiff Show,” interviews Peter Klein, who discusses how the anti-Apartheid movement, Mandela includ
A paper currency system contains the seeds of its own destruction. The temptation for the monopolist money producer to increase the supply is almost irresistible. A drastic reduction of government spending and deficits is not very likely either, given the incentives for politicians in democracies. So what is to come?
The only way to provide good medical services at a reasonable cost is to bring back market pricing. We need the market not only to get supply and demand back into balance, but also to decide what exactly will be supplied. When was the last time that anyone saw a normal market price in medicine?
The focus of Dallas Buyers Club is on the crony-capitalist relationship that exists among the American health care system, the pharmaceutical companies, and the FDA. The monopoly power that results from this union is used to stifle a person’s right to consume what he wants and treat himself as he sees fit.
At the heart of fascism lies state control of the economy. Mises found this in Nazism, and, it is prevalent in America today.
Voltaire once said, “Paper money eventually returns to its intrinsic value — zero.”
