In the second half of the twentieth century, pro-union and anti-trade policies led to a Rust Belt that became uncompetitive, costly, and unable to cope with reality. More protectionism won't save the region now.
Workers get paid now, but the capitalists only get paid if there is a profit. This is why workers aren't paid 100 percent of the value of their output. For them, there is far less risk than for the capitalist.
Supporters of the universal basic income claim it ends dependence on markets, bosses, family, and bureaucrats. But it doesn't eliminate dependence. It only transfers dependence to the central state.
More than half of the people in the world currently live in urban areas or cities, in spite of it being more expensive to do so. Why?
If violence is the key to creating wealth, as Desmond insinuates, then the communist nations would have created fabulous amounts of wealth given the brutality of 20th-century Stalinism.
New technologies, not the state, will be the key to making it ever easier to meet basic needs and diminish the perceived need for more government services.
Slavery was a monstrously unfair and immoral institution. It was also inefficient, compared to a system based on free labor.
The Keynesian obsession with avoiding deflation and pushing consumer spending has led to a serious decline in savings and capital accumulation.
Last week Business Insider referenced a study to defend NYC's minimum wage law. Neither holds up well upon any sort of serious analysis.
Those who suffer most from mandated wage hikes are low-skilled workers, disabled workers and part-time workers in the sector. And poorer regions suffer more than rich ones.
