Earlier this month, the Justice Department announced that it plans to stop using privately run prisons after a report found that they were often less safe for inmates than federally run facilities. While it is admirable for the federal government to finally start taking an interest in the well-being of its incarcerated population, referring to these facilities as “private” can be grossly misleading.
If Donald Trump has any interest in cutting federal social programs, he certainly hasn’t made it a significant part of his campaign.
In fact, it’s likely safe to say that a large part of Trump’s appeal to many of his supporters is the fact Trump has not said anything about substantial cuts to Social Security, Medicare, or low-income welfare programs.
I wrote this back in 2015, prior to Trump’s ascendancy, describing the GOP’s absolute failure to develop a coherent narrative that might actually appeal to voters (with Trump, the GOP rolls the dice — the candidate becomes the entire message). But it still applies today, because Republicans still can’t answer two basic questions: who are you, and what do you stand for?
Recognizing that the departure from gold and silver backing to our money has led to crushing debt and great financial instability, a few freedom-minded state legislatures have begun to consider how to defend themselves and their citizens.
In a free market, consumer goods are remarkably heterogeneous. We don’t just buy ketchup, we have to choose between regular, organic, reduced sugar, low sodium, and umpteen other variations. Just as importantly, we have to choose between Heinz, Hunts, Great Value, and other brands. It was John Henry Heinz, in fact, who became the first person to associate his name with the unadulterated processed foods he produced, allowing his product to be distinguished from competitors.
Last week, Tom Woods and I spoke on the Tom Woods show about the FBI, its origins, and its crimes. We also took a look at some issues surrounding policing and why modern law enforcement is made more dangerous and more difficult by the state’s drive to manage and control every aspect of daily life.
In Human Action Ludwig von Mises wrote, “corruption is a regular effect of interventionism.” As Peter Klein highlighted this week, we’ve seen a perfect illustration of that with continuing scandal plaguing Hillary Clinton involving the Clinton Foundation, and the speaking fees she received from Wall Street banks and other powerful companies. The larger government becomes, the more important it is to it have on your side.
Americans have more disposable income than nearly every other country on earth. The few exceptions include a handful of northern Western European states and some small city states like Monaco.
Even when accounting for government benefits and taxes, Americans still have more income available to spend than almost anyone else.
One of the few things economists agree on is that prices are determined by supply and demand. This is summarized by means of supply and demand curves, which describe the relationship between the prices and the quantity of goods supplied and demanded.
