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Category Archives: Economics
Invisible Bank Runs
We have entered the age of the invisible bank run and are waiting for the first virtual panic. An invisible bank run is a hard thing to watch; not only is it less telegenic than the old-fashioned kind, one relies … Continue reading
Posted in Economics, Government
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This Is Not How A Free Society Treats People
This is where Eduardo Saverin comes in. The Facebook co-founder, who finds himself a few billion dollars richer this week, recently renounced his US citizenship. And, to the intelligentsia, it’s not ‘fair’. ‘Saverin needs to pay his fair share! He … Continue reading
Posted in Civil Rights, Economics, Government, Liberty, Police State, Serfdom, Taxes
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FYI: The Gender Pay Gap is a Complete Myth
When you control for hours worked, time away for family, occupation, and other critical factors, that “pay gap” goes away. This also reminds me that, although there may be a “glass ceiling” for women, there’s also a “glass floor” that … Continue reading
Posted in Economics, Women
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“Household Income” Is A Poor Measure — Use “Per Capita Income” Instead
One source of data that people often use is median household income. It’s a good idea to use the median rather than the mean -– the mean can be very misleading. For example, the mean income of Harvard graduates who … Continue reading
Posted in Economics
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The Ryan Plan — Not Enough
Considering the situation we are in today, the size of government, the level of our debt, the continuous violations of our economic and personal freedoms, free-market advocates should be breathing fire everyday and fight for truly smaller government. This plan … Continue reading
Posted in Economics, Politics
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Complex Societies Need Simple Laws
Big-government advocates will say that as society grows more complex, laws must multiply to keep up. The opposite is true. It is precisely because society is unfathomably complex that laws must be kept simple. No legislature can possibly prescribe rules … Continue reading
Posted in Economics, Emergence, Government
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Return-on-Investment of Lobbying Greater Than Entrepreneurship
Wall Street can do math, and the math looks like this: Wall Street + Washington = Wild Profitability. Free enterprise? Entrepreneurship? Starting a business making and selling stuff behind some grimy little storefront? You’d have to be a fool. Better … Continue reading
Posted in Economics, Government
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Econ 101: “Nothing Has Any Value”
The value is not in the object, it is in your mind. Short, sweet, and genius: Via ‘That’s the mistake that Karl Marx made’ | Samizdata.net.
Posted in Economics
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535 People Control 23% Of The Nation’s Wealth
In cities all over the country, protesters are drawing the battle line between the top 1% and the rest of us in the bottom 99%. Too much economic power is in too few hands. It’s unfortunate indeed that the Occupiers … Continue reading
Posted in Economics, Government
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What’s Wrong With Gruber’s “Health Care Reform” ?
Given my interest in health economics and graphic novels, I was initially hopeful about Jonathan Gruber’s graphic novel, entitled Health Care Reform: What It Is, Why It’s Necessary, How It Works. But in all honesty, the book is awful. Gruber … Continue reading
Posted in Economics, Health Care
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