In 1944 Professor Hayek emphasised that sustainable employment depends on an appropriate distribution of labour among the different lines of production. This distribution must change as circumstances change. Sustain able employment thus depends on appropriate changes in relative real wage-rates. If established producers—both unions and capitalists—prevent such relative changes from becoming effective, there follows an unnecessary rise in unemployment. Sustainable employment now depends on successfully tackling these established labour and capital monopolies. - Sudha R.

November 16, 2017 marks the forty-fifth anniversary of the federal memorandum that ended the Tuskegee syphilis experiment. In 1932, the U.S. Public Health Service (USPHS) enrolled 600 indigent black-male sharecroppers in the study who were residents of Macon County, Alabama. 

Washington, DC is currently in the middle of a the “tax reform” process, which as Jeff Deist, points out, is “ a con, and a shell game.” Tax reform proposals, Deist continues “always evade and obscure the real issue, which is the total cost — financial, compliance, and human — taxes impose on society.”

Deutsche Bank Strategist Jim Reid suspects that global demographics and other realities may be soon putting the current fiat-money regime to the test. According to Business Insider: 

For years, special interests have called on the U.S. government to “level the playing field” in the form of duties, levies, and other antiquated measures. Democrats and Republicans alike have aired their grievances over the trade deficit, grumbling about exporters hurting American workers by flooding the market with cheap goods. These complaints are deeply misguided.

A century ago , the Bolshevik Revolution in Russia ushered in a century of mass murder, starvation, summary execution of millions of people, destruction of ancient social institutions, wars, a vast network of death camps, and the evisceration of liberty, at one time, of a third of the planet.

According to the New York Times, we should be mourning the passage of this era and all of its promises of a better life for all.

You read that correctly.

Inside Higher Ed reports that yet another small private college is closing: 

The Beacon Center, a libertarian think tank based in Nashville, has released a new film highlighting and describing the impact of corporate welfare in Tennessee. Starring University of Tennessee professor Glenn Reynolds, Rigged tells the story of small business owners in Memphis who were harmed by the massive tax breaks which the Shelby County government bestowed upon the furniture giant Ikea for opening a location in the Memphis area.