Krugman v. Walmart
In his column in The New York Times, Paul Krugman attacks Walmart for its claim that it creates jobs. Krugman notes that Walmart’s competition against other retailers also destroys the jobs its competitors had offered before being put out of business by its competition. He attempts to show that Walmart has destroyed more jobs in this way than it has created.
Number Four
The New Marxism
Or: “We’ll keep the green flag flying!”
As this excerpt from a rather uncritical article by CFO.com reveals, we are being asked to deify not so much the Labour Theory of Value, as the Gaia Theory of Value, so as to prevent all hardened capitalists from driving dear old Mother Earth down to a subsistence wage:-
A Flood of Folly
Economic ignorance rises to the top: that’s Tim Kern’s explanation for FEMA’s continued support of building in flood-prone areas.
Platonic Competition
George Reisman debunks a central element both in contemporary economic theory and public policy.
Best of 2005
It’s that time again. Time to select the best articles of 2005. To get the ball rolling, here are 25 contenders for a Top 10 list of best Daily Articles appearing this year on Mises.org. Feel free to add your favorites and send nominations and passionate opinions to best2005@mises.org:
Society Needs No Managers
Liberty cannot be imposed in the way that socialist systems of old were imposed, because genuine liberty is not just another form of government management, writes Lew Rockwell.
The ECB Puts the Inflation Monster in the jar
This is an entertaining video put out by the European Central Bank. It discusses what inflation is and how it can be controlled. But it is entertaining on a number of levels, not the least of which is that it is shot through with subtle fallacies and self-serving avoidance of the topic of what it is, precisely, that creates new money. It also completely misconstrues interest rates, which are said here to be nothing but the price of money established by the central bank.
Economic Xenophobia
I have received quite a few comments on my 12/8 article about the Libertarian Immigration Conundrum (discussion here). A common argument against open borders goes something like this: “If X million [non-wanted] immigrants would occupy your country, would you then be so prone to advocate ‘open borders’?”
