We are bombarded with claims that capitalism causes inequality, yet what does it really mean? In truth, in a free market economy, differences in income, even large differences, don‘t mean much since most people have a high standard of living.
Jamaica has emerged as a prime destination for investment under the leadership of Prime Minister Andrew Holness. The country has fostered a business-friendly environment.
College football has finally experienced an athlete‘s holdout in order to leverage a hoped-for payday. In the case of Nico Iamaleava, he tried to leverage more money from the University of Tennessee but failed spectacularly. There are economic lessons to be learned here.
An enduring progressive myth is that racial and religious minorities can only make economic gains if government "levels the playing field." The historical record demonstrates, however, that free markets offer the best opportunities for people in minority groups.
Thanks to President Trump‘s brinkmanship, tariffs are in the headlines. However, while the public knows about tariffs, few people actually understand them, their history, and how they work.
Mises said, “The continued existence of society depends upon private property.” Private property is essential for exchange, economic calculation, and many more pillars of human civilization.
Trump economic adviser Peter Navarro has condemned multi-billion-dollar investments by BMW in South Carolina as “bad for our economics.” The comments reflect a greater ignorance of capital goods by so-called economic experts.
Tariff supporters claim that implementing tariffs will result in new jobs at home. What they fail to point out is that many people depend upon imports for work. The tariffs on Canadian aluminum imports are a case in point.
In The General Theory, J.M. Keynes allegedly “discredited” Say‘s Law. Of course, Keynes actually debunked a straw man that was a caricature of what Say actually wrote. It‘s time to set the record straight.
By their nature, free markets promote harmony between people and increase overall standards of living. This view is radically different from the ones promoted by Marxists who believe that only “class interests” matter.
