Mainstream economists speak of GDP as though it is the economy itself, however, GDP is not a good measure of economic reality. Instead, it presents a distorted picture of genuine economic activity and leads to mistaken conclusions about the economy.
Despite claims from progressive historians that US slavery was a natural outgrowth of a free market economy, the reality is that slavery would have been much costlier without governments—federal and state—subsidizing it. It is time to set the record straight.
The total number of employed persons has fallen by 66,000 since August of 2023. Moreover, the new job growth is almost all in part-time jobs.
While the world is abuzz over artificial intelligence (AI), present technologies are limited more than most people want to believe. The situation is ripe for malinvestments.
Keynesians are known for using obscure and jumbled jargon to explain their fallacious ideas. The hope being that, the more confusing the language, the greater the perceived scholarship. Good economics can and should be clearly logically explained.
In fact, all great states in the 20th century have been killer states, to a greater or lesser degree.
Bob explains the contributions of Menger and Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus.
The US Armed Forces expand their footprints in the Indian Ocean, not to defend this country, but to expand military power. The Diego Garcia base has left a trail of ruined lives for those forced off their land to make room for yet another military base.
What is the source of our rights, natural Law or the state? Unfortunately, too many people who should know better choose the latter. David Gordon makes short work of their internal contradictions.
As AI continues to develop, so does the hysteria that AI will soon take over and relegate us to a dystopian future. We need to realize that, like so many other tools, AI can have good and bad uses, but it cannot control itself.
