It is this economic law of exchange—not bombs, government spending, regulations, loose credit from the Fed, or stock-market scams—that is the source of wealth, health, and security in our world. Politicians care nothing about it because voluntarism is not what they are about. But economic law always has its revenge. It brought down the Soviet Union, and it will do the same to any state or institution that believes itself exempt.
A new study has been seized upon by proponents as a "proof text" against critics of living-wage laws. The success claimed for such policies by that study, however, is, in fact, far less than implied by the innumerable "Living Wage Laws Reduce Poverty" stories it has spawned. At most, the study only shows that some low-income workers may gain more than other low-income workers lose.
Charging $4, $5, or even $100 for a gallon of gasoline is not a crime; rather, it is a logical response to what buyers and sellers perceive to be the current market situation.
Like control over consumer goods in the former Soviet Union, water in Canada is subject to strict state control.
Doctors and patients fed up with the current medical system are negotiating something entirely new, and the AMA is very unhappy.
The Hirohito gold coin was fixed at a very high legal-tender value in terms of yen. Then the price of gold fell.
The purpose of the Patients' Bill of Rights is to destroy HMOs and pave the way for the complete socialization of American health care. William Anderson explains.
Facing a crisis, their primary concern is political survival; to admit their culpability and liability would be committing political suicide. Therefore, they rant and rave, always pointing toward the producers of energy. It is they who heartlessly, scandalously, viciously, and immorally conspire to create energy shortages in order to reap exorbitant profits.
They hail from Harvard, Yale, and Cornell, but these economists haven't learned the first lesson of economics. William Anderson corrects their errors.
