Saving Capitalism From Something

During the years of the Great Depression, John Maynard Keynes formalized what he called his General Theory of Employment, Interest, and Capital, which heavily influenced politics of the time and the development of economics in subsequent decades. He is often characterized as the man who single-handedly prevented the collapse of Continue Reading →

Even the Amish Know Economics

Amish people are an interesting lot. They are real people, just like everyone else. They have all of the human needs and wants, and they have the same human intelligence to fill those needs, but they also feel a need for cultural resistance, to be separate from the modern world Continue Reading →

What Market Failure Means

Failure means that particular actions didn’t yield the intended results. The term is often applied when bad things happen in the economy, as in “market failure”. The term implies that a market didn’t do what it was supposed to do. What is it, however, that a market is supposed to Continue Reading →

Fraudulent Premises of Modern Regulation

The health care system is broken, education is falling behind, prices are too high or too low, too many people don’t have jobs, income or wealth is too unequal, and consumers put the wrong things in their bodies, so we need government agencies to correct these and all other problems. Continue Reading →

Chasing Economic Growth

People want to be better off tomorrow than they are today. While their views of what it means to be better off may vary, a higher level of prosperity is an important component for most people. Everyone, with the exception of a naked homeless, destitute person, has some level of Continue Reading →