https://youtu.be/HA_zM96coww To many people, even today, high profits are often attributed to high prices charged by those motivated by “greed.” In reality, most of the great fortunes in American history have resulted from someone’s figuring out how to reduce costs,...
https://youtu.be/VJqy-qP5ZtU Listing the main ways that society appears to treat men less fairly than women requires only a little more reflection to complete. Topping the list: a. Men are overrepresented at the bottom levels of society. They do most of the nasty,...
https://youtu.be/fmh1JeGAVP0 Here’s why: almost a hundred years ago, the Austrian economist Ludwig von Mises explained that socialism, even if run by benevolent despots and populated with workers willing to work for the common good, could still not match capitalism’s...
Remember the quaint old days of 2019? We were told the U.S. economy was in great shape. Inflation was low, jobs were plentiful, GDP was growing. And frankly, if covid had not come along, there is a pretty good chance Donald Trump would have been reelected. At an event...
My 13-year-old homeschooled sons just finished my labor economics class. I hope they take many more economics classes, but I’ll be perfectly satisfied with their grasp of economics as long as they internalize what they learned this semester. Why? Because...
https://youtu.be/2QrYDV9QFTg (Source: Mark Perry at the American Institute for Economic Research) Over that period (1980-2018), the world’s population rose by 71.2 percent, yet the average working time required to earn enough money to buy 50 kinds of energy, food, raw...
Lex mercatoria, or the “Law Merchant,” refers to the privately produced, privately adjudicated, and privately enforced body of customary law that governed virtually every aspect of commercial transactions by the end of the 11th century. Thus, the Law Merchant provides...
The U.S. Army reports it is having some serious problems when it comes to recruiting new soldiers. Last month, according to the AP: “Army officials…said the service will fall about 10,000 soldiers short of its planned end strength for this fiscal year, and prospects...
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