As South Africa and most countries of the West attempt to enforce a state-led program of resource allocation based on race under the aegis of “equity,” it is timely to reevaluate the lessons to be learned from Walter Williams’ account of “South Africa’s War Against Capitalism.” In this book, Williams studies the economic effects of enforcing “a pervasive system of legalized racial discrimination.”
On Sunday, July 21, President Biden dropped out of the 2024 presidential campaign via a text-only post on Twitter/X. Less than an hour later, Biden—also via a text-only post on Twitter/X—endorsed vice president Kamala Harris for the presidency.
Recently, the Biden administration introduced plans to limit increases in apartment rents to 5% annually. Far from a straightforward cap, this plan contains various nuances, which I will explain below. Nevertheless, the basic fraud on display here is twofold.
First, the state continues to ignore private property rights while manipulating markets with price controls – an attempt to commandeer the market’s fundamental role of price discovery and place it in the hands of bureaucrats.
The assimilation of degrowth ideas into the mainstream portends dire consequences for economic well-being. Degrowth is trumpeted as the solution to averting a climate catastrophe, but it will reverse the economic fortunes of practitioners.
The cost of a hoax
