Tag: Economics

Recommended by Ricochet Members Created with Sketch. Quote of the Day: Price Controls

 

“Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.” – Thomas Sowell

Did anyone notice California’s governor imposing statewide rent control on September 10? It was done to make housing more affordable and more available. It was sold as a means of fixing the homeless crisis. Of course, the cities that already had rent control are the cities with the greatest housing shortages and highest rents, but why let reality intrude on a great theory.

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Recommended by Ricochet Members Created with Sketch. A Pope Speaks Out (No, Not That Pope)

 

I’ve listened to some of the Democrat Presidential debates and I had no idea there were that many people that were concerned with what I should eat, how I should travel, what I should own, and my medical care. There’s more to add to the list so rather than list everything I’ll just say – I never knew I was so inept in living my unsupervised personal life, much less how that ignorance was oppressing my neighbors. I not only was oppressing my neighbors I was oppressing an entire nation with my selfish lifestyle.

In this age of unexamined ideas where history begins with the start of the next 24-hour news cycle, state-sanctioned looting is nothing new, the Catholic Church has already wrestled with this issue. There were Catholics that advocated Distributism, which was no more than Socialism. Some called it the Catholic Third Way of Economics. The Magisterium never advocated this Third Way because it was seen as no more than theft.

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http://www.bbc.com/future/story/20190905-how-localisation-can-solve-climate-change Wow, so while we were fearing that the globalists will push their way forward with use of climate change, the agenda just got turned inside out (although it may take politicians awhile to refocus their efforts). Of course only a world government could possibly enforce this. Bonus: it could even fit right in with […]

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This may not be the place, but I have a half-baked theory I want to throw out there, since the left is pursuing the reconstruction of our language. (Starting with all conservatives being on the Hillary list of phobics culminating in “deplorables.”) Here goes: We are inundated with these references, and once “racist” started to […]

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Weeks ago, Ricochet members discussed talents and aptitudes. It is generally acknowledged that some people are better than others at particular skills and trades. But there was debate about nature versus nurture; if excellence is available to any practicioner with enough hard work and training. Today, let’s change the focus slightly. Can anyone be trained […]

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I know this tweet is 18 days old, an eternity in Trump Twitter time, but I’ve only just seen it. I had to read it twice to grasp the staggering level of economic ignorance it displays. Our toddler president states, with his customary disdain for orthographic convention, “Tariffs will bring in FAR MORE wealth to […]

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Promoted from the Ricochet Member Feed by Editors Created with Sketch. Michael Busler PhD: College Cheating Scandal, Socialist Students and Trumps Economy

 

Why the College Cheating Scandal should be blamed on the student loan crisis backed by the government. Professor of Economics at Stockton University, NJ, Michael Busler, PhD, joins Dave Sussman and also discusses the increase of socialism among students, and a report card on President Donald Trump’s economic policies. Follow Dr. Busler at https://twitter.com/mbusler and https://www.facebook.com/fundingdemocracy

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I recently read an intriguing book concerned with the exponential advances in technology and the impact thereof on human society. The author believes that the displacement of human labor by technology is in its very early stages, and sees little limit to the process. He is concerned with how this will affect–indeed, has already affected–the […]

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I have been reading F. A Hayek’s The Road to Serfdom, and as I have read it, I have thoroughly enjoyed his complete and utter destruction of the idea of central planning. I currently have just finished Chapter V, in which he debunks the notion that “democratic socialism” can exist. To paraphrase Hayek’s points, because […]

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Gracy Olmstead of “The American Conservative” and other outlets has provided us with an interview with the not easily categorized Wendell Berry in today’s New York Times. Olmstead is someone I’ve read with pleasure over the last several years and have seen her work promoted here at Ricochet. One of the things that makes this […]

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Recommended by Ricochet Members Created with Sketch. Providing a Service People Want Isn’t “Exploitation”

 

A Harvard survey last month found that a slim majority of millennials reject capitalism, and with the quality of media reporting about business and the economy, it’s not hard to guess why. (Not to mention the pitiful state of economics education in public high schools.) The Washington Post published a story today that perfectly illustrates the extent of the problem in a single sentence.

The story is about single women in China who have passed their early 20s without a husband, which they say brings shame to their families and have turned to “love markets” as a last resort. Turns out that some entrepreneurs have started companies to help these women find husbands. These are more than dating websites. The companies train the women in man-finding techniques and search cities to help them locate eligible men.

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Recommended by Ricochet Members Created with Sketch. Member Post

 

Cheap gas. That, along with great pizza and bagels, was always one of the benefits of living in New Jersey. Even though there is no self-service gas in NJ, the price per gallon was still less than what I would see in any other state I drove through. Until the end of 2016, that is. […]

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Warning: Potentially spoiler-heavy thread! It’s simple, really: Earth’s economy will collapse after half of us die, Stark will show Thanos how bad it is, Thanos will learn that Malthusian economic theory is wrong, and he’ll just undo everything. More

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A few years ago, C.W. Strand published a long, three-part essay on Tradinista, a now-defunct website “devoted to a synthesis of Marxis[m] and traditional Roman Catholicis[m].” The essay seeks, in its own words, to explore “the possibility and nature of Catholic socialism.” The first two parts largely consist of a systematic redefining of “socialism” — an attempt […]

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People wonder all the time why various groups of people do better than other groups of people economically. Some people say its climate. Other people says its religion or ethnic group but those variables fail in explaining economic success. Flat out. It happens to all of us. But before I get into my reasons for […]

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In part one of this series, I explained the Cheney Doctrine which governed the GOP’s fiscal and trade policies in the 2000s. The Cheney Doctrine can be summed up as “give the voters low taxes and cheap foreign goods, and everyone will be happy.” This led to utter economic and political disaster in 2008 and […]

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[This is a two-part series. In part two I’ll explore whether Trump has invented a new fiscal strategy for the GOP] The Cheney doctrine, first articulated by Dick Cheney in the early 2000s, is that fiscal deficits do not matter. As the 2000s wore on, the doctrine was expanded to include trade deficits. This expanded […]

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Recommended by Ricochet Members Created with Sketch. $10,000 Is Not Nearly Enough to Compensate for Living in Vermont

 

(I’m posting this from the Josiah Bartlett Center for Public Policy’s weekly email newsletter, which you can get for free each Friday by signing up here: https://www.jbartlett.org/about-us/email-sign-up)

Moonlighting in Vermont

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Richard Epstein reacts to the recent Supreme Court decision in Epic Systems Corp v. Lewis, defending the right of employers to use arbitration and avoid class action lawsuits. More

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Nobody can plan the actions of even a thousand living persons, separately. Anyone attempting to control millions must divide them into classes, and make a plan applying to these classes. But these classes do not exist. No two persons are alike. No two are in the same circumstances; no two have the same abilities; beyond […]

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