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The Tale of the Steak – A Lesson in Economics by Walter E. Williams

by The Libertarian Institute | Jan 17, 2023 | Blog, Uncategorized

Consider filet mignon and chuck steak. Assume-realistically-that consumers prefer the former. Then the question becomes: why is it, despite consumer preferences, that chuck steak sells at all? The fact is that chuck steak outsells filet mignon. How does something less preferred compete with something more preferred? It does so by offering what economists call "compensating differences." In other words, as you wheel your shopping cart down the aisle, chuck steak "says" to you, "I don't look as nice as filet mignon; I'm not as tender and tasty; but I'm not as expensive either. I sell...

Volodymyr Zelenskyy is a Tyrant Unworthy of Admiration

by The Libertarian Institute | Jan 13, 2023 | Blog, Libertarian Institute Roundtable

https://www.youtube.com/watch?v=sNSMrawCmcM Volodymyr Zelenskyy has: Instituted Military Conscription (Also Known As Slavery and Forced Labor) Bombed Poland Then Lied Blaming Russia Trying to Start World War Three w/ NATO Nationalized (Monopolized) the Media Banned opposition parties Repressed the Russian Orthodox Church (sanctions, asset freezes, etc)

The Secret to Seeing Through “News” Propaganda!

by The Libertarian Institute | Dec 13, 2022 | Blog, Libertarian Institute Roundtable

https://youtu.be/dfw0wVP1m_E Excerpt from Knowledge, Reality, and Value: A Mostly Common Sense Guide to Philosophy by Michael Huemer, Ph.D. Credulity Humans are born credulous – we instinctively believe what people tell us, even with no corroboration. We are especially credulous about statistics or other information that sounds like objective facts. Unfortunately, we are not so scrupulous when it comes to accurately and non-misleadingly reporting facts. There is an enormous amount of disinformation in the world, particularly about politics and other matters of public interest. If the public...

Who Gave Government the License to Issue Licenses?

by The Libertarian Institute | Dec 4, 2022 | Blog, Libertarian Institute Roundtable

https://youtu.be/K5j4_CwtW8I On November 4th, the Kansas City, MO Health Department sent police to confiscate food that was to be distributed to homeless people, throwing it in trash bags and pouring bleach on it to make it inedible, Fox 32 reports. The food, including homemade chili, sandwiches, and soup, was being distributed by the organization Free Hot Soup KC (FHS KC), a group that hands out free supplies and food to the homeless. - Sophie Weiner, "Kansas City Health Department Pours Bleach on Food Intended for Homeless" (Nov. 2018) Splinter News

Freedom = Social Cooperation = Prosperity

by The Libertarian Institute | Nov 24, 2022 | Blog, Libertarian Institute Roundtable

https://youtu.be/qg02oeR17ug …Sam Walton, the founder of Walmart, became one of the wealthiest men in the world by figuring out how to cut the price of just about everything to the benefit of everyone, but especially of lower-income consumers. That’s one of the other virtues of the free market: it rewards people who can figure out how to supply products and services that might have originally only been affordable to the wealthy so cheaply that just about anyone can afford and enjoy them. Henry Ford became wealthy by producing cheaper and cheaper (and better and better quality) automobiles;...

Why the Cops Murdered Duncan Lemp

by The Libertarian Institute | Nov 20, 2022 | Blog

https://youtu.be/ViUchNDPa4E As widespread as the standard view regarding the necessity of the institution of a state as the provider of law and order is, it stands in clear contradiction to elementary economic and moral laws and principles. First of all, among economists and philosophers two near-universally accepted propositions exist: 1. Every “monopoly” is “bad” from the viewpoint of consumers. Monopoly is here understood in its classic meaning as an exclusive privilege granted to a single producer of a commodity or service, or as the absence of “free entry” into a particular line of...

Fake News Exposed: Inflation, Iran, College, America First, and Poland

by The Libertarian Institute | Nov 18, 2022 | Blog, Economics, Libertarian Institute Roundtable, Politics

https://youtu.be/OVmAJhnGxLU What Makes Wages Rise The buyers do not pay for the toil and trouble the worker took nor for the length of time he spent in working. They pay for the products. The better the tools are which the worker uses in his job, the more he can perform in an hour, the higher is, consequently, his remuneration. What makes wages rise and renders the material conditions of the wage earners more satisfactory is improvement in the technological equipment. American wages are higher than wages in other countries because the capital invested per head of the worker is greater and...

Actually, Socialism IS When The Government Does Stuff

by The Libertarian Institute | Jun 17, 2022 | Blog

https://youtu.be/_-6CyEYetxM How is something to be owned by “the community as a whole?” Ownership means that you get to decide what is done with something. If you and I disagree on who gets to eat your apple, then whatever you decide will take precedence, because it is your apple. If a “community as a whole” owns something, and two people within that community disagree on what should be done with something, who takes precedence? Whoever it is, he is the real owner of that thing, not the “community as a whole.” - Danny Duchamp, Actually Socialism IS When the Government Does...