Economic Policy

One of the problems in presenting economic concepts to a public audience is that too many people in the academic world do not comprehend the simple presence of opportunity cost. 

With the world moving more and more in the direction of trade protectionism and war, it is worth remembering the origin of the fallacies upon which this movement is based.

In its attempt to claim that the concept of free trade is full of fallacies, The American Compass builds its anti-free trade case upon fallacies.

In his 2006 book The Wages of Destruction, Columbia University historian Adam Tooze explains Hitler’s policy of seeking lebensraum (living room). However, Ludwig von Mises (whom Tooze ignores) already explained that policy in his 1944 Omnipotent Government.

Various indexes are used to determine the ease of doing business in countries around the world. Not surprisingly, the nations that allow for protection of private property and have economic freedom also are the most prosperous.

Supporters of the new California minimum wage law for fast-food restaurants claim it will bolster economic opportunity for lower-income people. It actually will be a wealth transfer from the poor to the rich.

In order to vastly expand the regulatory state, the Biden administration is using fake cost-benefit ratios to make its regulations seem less costly and more beneficial. This is clearly fraudulent, but no bureaucrat will be charged with any crimes.

One of the problems in presenting economic concepts to a public audience is that too many people in the academic world do not comprehend the simple presence of opportunity cost. 

Alabama Governor Kay Ivey signed a bill on May 17 that removes all income taxes on capital gains from the sale of gold and silver, enabling the state to take an important step forward in reinforcing sound money principles.

Supporters of the new California minimum wage law for fast-food restaurants claim it will bolster economic opportunity for lower-income people. It actually will be a wealth transfer from the poor to the rich.