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When people are directly responsible for something — and rely on that thing for current and future sustenance — they will manage it better.
Allowing lawmakers to raise taxes with a 50% + 1 vote is a recipe for disaster.
Bureaucracy and RegulationLabor and Wages
Profit-oriented business organizations that demand political conformity in the workplace are mimicking government agencies, and we must turn to Mises's book Bureaucracy for guidance.
Value and Exchange
Despite its great appeal because of its simplicity, the supply-demand graphic as employed by mainstream economics is a tool that is detached from the facts of reality.
War and Foreign Policy
While Pence pointed out the massive violations of civil liberties in Venezuela, Nicaragua, and Cuba, he forgot to mention what has been occurring at the US's Guantanamo Bay.
"The greatest fallacy of the classical liberals was their assumption that a constitutionally limited state government was necessary."
Money and BanksMonetary TheoryMoney and Banking
Scott Sumner's Market Monetarist framework is seductively simple, but relies on a definitional trick.
Peasants in pre-industrial societies often worked fewer hours than modern-day workers. They also had a shockingly low standard of living.