Economics

Inflation Veering Toward 1 Million Percent in Collapsing, Socialist Venezuela

Inflation Veering Toward 1 Million Percent in Collapsing, Socialist Venezuela

It wasn’t that long ago that the left praised socialist Venezuela as a model country, a good comparison to the mean, ruthless system of the United States. What happened?

3 Nobel Prize-Winning Contributions to Economic Science (From People Who Weren’t Economists)

3 Nobel Prize-Winning Contributions to Economic Science (From People Who Weren’t Economists)

Since it was introduced in 1968, the Nobel Memorial Prize in Economic Sciences has been awarded to 79 individuals for their contributions to different branches of economics. Yet not all of them were economists by training.

Venezuela’s Nightmare: 5 Reasons It's Likely to Get Worse

Venezuela’s Nightmare: 5 Reasons It's Likely to Get Worse

We know this assessment isn’t what millions of suffering Venezuelans will want to hear, but Maduro may hold on to power for quite some time.

Could Britain-Style Healthcare Work in America?

Could Britain-Style Healthcare Work in America?

No one would deny that the American healthcare system desperately needs reform, but is a single-payer system like Britain's the way to go? 

Alexandria Ocasio-Cortez's Campaign Platform Explains Her Primary Victory

Alexandria Ocasio-Cortez's Campaign Platform Explains Her Primary Victory

Ocasio will very likely go on to win her seat by a comfortable margin, but the real losers will be her constituents.

You Can't Leave the U.S. Unless the IRS Lets You Now

You Can't Leave the U.S. Unless the IRS Lets You Now

The U.S. government is now cracking down on Americans who have outstanding tax bills — by holding their passports hostage.

George Orwell Knew We'd Buy the Screens That Are Used Against Us

George Orwell Knew We'd Buy the Screens That Are Used Against Us

When acting on our desires in the marketplace means signing over our data to corporate entities, the erosion of choice is revealed to be the consequence of choice – or at least, the consequence of celebrating choice.

3 Things Economics Major Alexandria Ocasio-Cortez Gets Totally Wrong About Economics

3 Things Economics Major Alexandria Ocasio-Cortez Gets Totally Wrong About Economics

Her economics degree didn’t help her in the recent PBS interview, as she revealed an ignorance of basic economics and argued multiple points that objective data contradict.

Distinguishing Important Tasks from Urgent Ones Is the Secret of Success

Distinguishing Important Tasks from Urgent Ones Is the Secret of Success

If President Eisenhower had not focused on the important while commanding the Allied forces, would World War II been lost?

The Solution to Poverty Isn't Charity. It's Opportunity

The Solution to Poverty Isn't Charity. It's Opportunity

Treating symptoms is not enough.

Another California City is Trying a Universal Basic Income: Will it Work?

Another California City is Trying a Universal Basic Income: Will it Work?

'The program will provide at least 100 Stocktonians with a guaranteed income of $500 per month for 18 months.' Will this program be an improvement to the status quo, or just an ineffective waste of money?

Why It Might Be the Right Time to Quit Your Job

Why It Might Be the Right Time to Quit Your Job

Employers now are begging for talent, and ready to pay to keep it. That gives workers more confidence that they can leave one job for another.

What the Origins of Money Teaches Us About Spontaneous Order

What the Origins of Money Teaches Us About Spontaneous Order

From Mesopotamia (or even earlier), all civilizations have employed some kind of medium of exchange to facilitate transactions regardless of their geographical locations, legal and economic systems, religious beliefs or political structures. Have you ever wondered why?

The Economic Illiteracy of Bernie Sanders

The Economic Illiteracy of Bernie Sanders

The uniquely frustrating brilliance of Sanders lies in his theatrical acuteness for distortions and inaccuracies. 

3 Ways Milton Friedman Improved the Field of Economics

3 Ways Milton Friedman Improved the Field of Economics

The contributions of Friedman as an economist are often overlooked by non-economists. Here are three that will help you understand a bit better his work.

It's Time to Privatize the United States Postal Service

It's Time to Privatize the United States Postal Service

The country would be wise to let the market take a shot at cleaning up government waste.

The Real Questions You Should Ask Your Economics Professor

The Real Questions You Should Ask Your Economics Professor

The “conventional wisdom” may be conventional, but it’s often not wisdom.

 Socialism is Not Built on Compassion. It's Built on Group Conflict.

Socialism is Not Built on Compassion. It's Built on Group Conflict.

Regulators should put some basic rules in place and leave the rest to innovation and common sense.

Les Miserables: What Permit Patty's Outburst Can Teach Us About Mercy

Les Miserables: What Permit Patty's Outburst Can Teach Us About Mercy

For the unlucky few who win the internet lottery, misdeeds become fodder for public judgement. Did the severity of the crime match the severity of the punishment? 

How Democracies Become Tyrannical

How Democracies Become Tyrannical

While democracy historically was part of the great movement for human liberty, majorities potentially could be as dictatorial and dangerous as the most ruthless and oppressive kings and princes of the past.

Why People in Hong Kong Have Incomes 5x Higher Than People in China's Richest Province

Why People in Hong Kong Have Incomes 5x Higher Than People in China's Richest Province

The people of Hong Kong understand that a free market left alone is a market that will flourish.

Three Common Ways Governments Misuse Statistics and What You Can Do About It

Three Common Ways Governments Misuse Statistics and What You Can Do About It

While statistics can be valuable, they can be easily misrepresented.

Why ‘Permit Patty’ Called Police on an 8-Year-Old Girl Selling Water

Why ‘Permit Patty’ Called Police on an 8-Year-Old Girl Selling Water

Entrepreneurship among younger generations is declining. We need to rebuild a commercial society.

Seattle Aiming to Become More Like Detroit

Seattle Aiming to Become More Like Detroit

Once the prosperous home to the thriving American automobile industry, Detroit made itself so unfriendly to business that American auto manufacturing has migrated to more business-friendly locations, largely in the American South.

'Bourgeois Dignity': The Idea that Created the Modern World

'Bourgeois Dignity': The Idea that Created the Modern World

In her book Bourgeois Dignity: Why Economics Can’t Explain the Modern World, Deirdre McCloskey offers a persuasive narrative that explores the causes of the Industrial Revolution. 

What’s Really Behind the Soaring Cost of Weddings

What’s Really Behind the Soaring Cost of Weddings

While weddings have been extravagant for a while, why have costs doubled in the last 10 years?

Hayek Can Teach Trump the Key to Bringing Political Freedom to North Korea

Hayek Can Teach Trump the Key to Bringing Political Freedom to North Korea

According to Nobel Prize laureate F.A. Hayek, easing restrictions on economic freedom may be exactly what is needed to encourage political freedom in a totalitarian state.

Why are Catholic Bishops Defending Illegal Immigration? They’re Bought?

Why are Catholic Bishops Defending Illegal Immigration? They’re Bought?

Religious organizations and other charities are scooping up billions in government funds earmarked for refugees and illegal immigrants. Are we at all surprised that they want to maintain the status quo?

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