Materialism
Just War
A just war exists when a people tries to ward off the threat of coercive domination by another people, or to overthrow an already-existing domination.
It’s Not Really about the Debt
In his Outside the Box e-letter, February 13, 2012, respected economic commentator John Mauldin presents an interview with Dr. Lacy Hunt, a highly regarded US financial economist. According to Hunt the key factor behind the current world economic crisis — in Europe and the United States in particular — is a very high level of debt relative to gross domestic product (GDP). For instance in the United States, as a percentage of GDP, both public- and private-sector debt is currently at around 400 percent, while in the eurozone it is 450 percent.
High-Frequency Trading: Menger vs. Walras
Many Americans don’t pay income tax. Is this a bad thing?
Last week, the Heritage Foundation published commentary on the number of Americans who pay income tax, and decried the fact that 49.5 percent of Americans are “not represented on a taxable return.” The Daily Mail then picked up the statistics and announced that “HALF of Americans don’t pay income tax despite cripplin
Unjust Wars, Then and Now
Krugman and British Austerity
In a recent New York Times op-ed piece called “The Austerity Debacle,” columnist Paul Krugman notes how policies in Britain have failed to bring about an economic recovery. In doing so, he contends that the British government’s decision to “slash spending” has led to a slower economic recovery as measured by real GDP growth than during the Great Depression.
Seventeen Years of Boom and Bust
The State Is a Harsh Mistress
When I mention that I believe that it is not the proper role of government to subsidize research in space technology, the looks I receive from my fellow aerospace engineering classmates seem to suggest that they want to send me to the dark side of the moon (on the taxpayers’ dime).