Does anyone still believe that the market process should set prices, including wages? Apparently not. Take the controversy surrounding the H-1B visa, the program that "permits" employers to hire highly educated and skilled foreign workers, such as hi-tech personnel....
The completely just proposition that the worker is to receive the entire value of his product can be reasonably interpreted to mean either that he is to receive the full present value of his product now or that he is to get the entire future value in the future. But...
Some things haven't changed since 1883. In that year Yale University professor William Graham Sumner, the anti-imperialist laissez-faire liberal and pioneer of American sociology, noticed that "we are told every day that great social problems stand before us and...
I rise today to protest the widespread and malicious use of the adjective corporate as a synonym for evil, corrupt, exploitative, or any number of other pejoratives. As a descriptor, corporate merely says that an association that makes or sells goods for profit is...
"Consumption is the sole end and purpose of all production." —Adam Smith, The Wealth of Nations, 1776 "In the market economy the consumers are supreme. Their buying and their abstention from buying ultimately determine what the entrepreneurs produce and in what...
Fairness and its synonyms are among the most abused words in English. By that I mean they are commonly manipulated for ideological ends. Wokeness has aggravated a situation that has existed for some time. What better way to score points for a political position than...
Remember Barack Obama's profound 2012 campaign speech about success? Here's part of what he said: There are a lot of wealthy, successful Americans who agree with me -- because they want to give something back. They know they didn’t -- look, if you’ve been successful,...
"The liberal champions of equality under the law were fully aware of the fact that men are born unequal and that it is precisely their inequality that generates social cooperation and civilization. Equality under the law was in their opinion not designed to correct...
