When economists try to analyze the economy, one procedure is to remove the “seasonal” component from the data in order to account for trends and fluctuations. That collides with the thinking behind praxeology in which human beings engage in purposeful behavior.
No one doubts that the US is a politically and culturally divided nation. Contrary to much of public opinion, politicians like Donald Trump did not cause the crisis. Instead, as Lawrence Mead writes, they are a symptom of the government's assault on our culture.
September’s fiscal surplus was not thanks to tariff revenue. In truth, it was thanks to Americans paying more in income tax. Tariffs were only 5.7 percent of revenue.
Despite the change in the White House, critical race theory is still with us, dominating the academic sectors and being ingrained in progressive culture. We need to better recognize what it is and how it works in order to better refute it.
For more than 60 years, the US government has enforced a trade embargo against Cuba, ostensibly to force the communist government into collapse. The only thing that has collapsed, however, is the logic in the US policy.
The central philosophy of progressivism is that we should be governed by so-called experts. What happens, however, when the “experts” are just plain wrong?
Dr. David Gordon, in today’s Friday Philosophy, reviews Clyde N. Wilson’s, Defending Dixie: Essays in Southern History and Culture. In these essays, Professor Wilson defends secession and the Southern cause.
As a true market entrepreneur, as opposed to a political entrepreneur, James J. Hill successfully built a transcontinental railroad, outcompeting his government-subsidized competitors.
Once again, the Trump administration’s “dealmaking” on international trade has blown up, this time pulling the rug from under US soybean farmers. This isn’t the first trade policy fiasco, nor will it be the last.
The concept of “planned obsolescence” makes no economic sense and is often an excuse for governments to harass and shake down innovative entrepreneurs. Much of so-called planned obsolescence is really entrepreneurship at work improving products for users and consumers.
