For months, I have seen articles about the massive economic ignorance infesting candidates’ views and how they would “fix” what they think are the nation’s problems. They essentially say that neither candidate knows enough to pass an economics principles course, much less enough to advance Americans’ general welfare. I cannot disagree.

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.

~Thomas Sowell

We are less than a month away from the election and it can’t be over soon enough. In the latest strange turn, several DC libertarians came out against prosecuting unlawful politicians and in support of a government-managed “common market,” rather than genuine free trade that can be imposed unilaterally.

It’s nice to see that the issue of repealing the 17th amendment to the US Constitution isn’t going away. The 17th Amendment, you may recall, is the one that mandates popular election of US Senators. Before that, US Senators were often selected — strictly speaking — by the state legislatures.

[From a talk delivered at the Boston Mises Circle, October 1, 2016.]

The media has again begun focusing on the fact that most Americans surveyed have less than $1,000 in their savings accounts. On Sunday, USAToday reported on “America’s spend-first mentality” and last week, CNBC suggested that 34%  of Americans “have no savings at all.”