Sunday, August 19, 2018

Murray Rothbard on When Socialism Was a Brand New Idea


Saturday, August 18, 2018

This Week in Economic History: Nixon Imposes Wage and Price Controls

On August 15, 1971, President Richard Nixon closed the gold window to foreign countries, meaning they no longer could exchange dollars for gold.

The Federal Reserve had printed so much money that there was

Larry Kudlow at Cabinet Meeting: "We Are Crushing It"

Trump administration national economic adviser Larry "I'll Take a Heart Attack for the President" Kudlow spoke directly to the President with cameras rolling at a Cabinet meeting this past Thursday.

He attributed all the positive economic numbers to President Trump, even though the current boom phase of the boom-bust cycle can be directly attributed to Federal Reserve manipulation of the money supply--and started long ago during the Obama presidency.

Further, he said price inflation is low. Not everyone will agree with that.

He also warned about China's economy and that is about the only thing he got right.



Tulsi Gabbard Bought a Crazy Amount of Cryptocurrencies Near the Very Top

Tulsi Gabbard, cryptocurrency plunger
By Robert Wenzel

Well, there is some good news here for the country, but not so much good news for Congresswoman Tulsi Gabbard on a personal investment level.

Gabbard is one of the few anti-war members in the House. Heroically, she prefers negotiations over sanctions when it comes to North Korea, Iran and Russia. But the interesting development this past

Friday, August 17, 2018

What Really is in the Hippocratic Oath


The Case for Government Abolishing Planned Obsolescence: Bring Back the Remington Typewriter and Carbon Paper

By Don Boudreaux

From the "You can't make this up" department comes this report, from May 2017, on a European Parliament resolution that is impossible to spoof because it is a spoof on itself. (My son, Thomas – erupting in laughter – just found this report and shared it with me.) The report’s title is “EU aims to abolish planned obsolescence.”

Damn all this rapid, incessant improvement in the likes of personal computers and cellular devices! Wouldn’t life be better if we all still

The Big Question Ex-Microsoft CEO Steve Ballmer Asked Job Seekers He Was Interviewing



A BLS Economist on My Analysis of the Coming Price Inflation Explosion

A Bureau of Labor Statistics economist, who is a subscriber to the EPJ Daily Alert, emails with regard to yesterday's ALERT:
Very good post about inflation dynamics using the CPI. I will share it with some of my colleagues at the BLS.
Subscribe to the EPJ Daily Alert today and you will get yesterday's inflation analysis issue as a bonus.

Here are four ways to subscribe: Click here.

Elizabeth Warren’s Batty Plan to Nationalize . . . Everything

By Kevin D. Williamson

Senator Elizabeth Warren of Massachusetts has one-upped socialists Bernie Sanders and Alexandria Ocasio-Cortez: She proposes to nationalize every major business in the United States of America. If successful, it would constitute the largest seizure of private property in human history.

Warren’s proposal is dishonestly called the “Accountable Capitalism Act.” Accountable to whom? you might ask. That’s a reasonable question. The answer is

When Thomas Jefferson Engaged in Industrial Espionage

Thomas Jefferson
Some fascinating history via Dr. John Gong:
Once upon a time, in the early to mid-1700s, America voraciously tried to seek British textile technologies.

The cunning Brits were of course ardently trying to safeguard their trade secret, embodied in the "living" or "dead instruments of trade," as Adam Smith used to call them.

The colonial-era  Americans were very creative in circumventing the overbearing Brits. For example,

Thursday, August 16, 2018

The Truth About Denmark and Socialism: What Bernie Sanders Doesn't Understand About the Country

By Otto Brøns-Petersen
Increasingly, both in Denmark and abroad, I hear the claim that Denmark is somehow proof that a gentler socialism is preferable to free-market capitalism, promising more happiness, greater wealth, or both. Recently, Democratic presidential candidates Bernie Sanders and Hillary Clinton declared their admiration for Denmark. I came across the rising attraction of the so-called Danish model earlier this year at conferences in Athens, Greece, and Sofia, Bulgaria. My advice at those events was and continues to be, “Don’t try this at home — at least until you understand what the Danish Model is about.”

"Congrats on Your Video of the Laffer Curve"

Jorge Zuazola tweets:


What's Happening to Economic Freedom in the United States?


Wonderschool: The Free Market Comes Up With a Solution for Teachers Who Can't Afford to Live on a Public School Salary in High Rent San Francisco Area

By Robert Wenzel

Linda, Jung quit her job at a San Francisco Bay Area preschool, where she had been making about $50,000 a year, to launch a preschool out her two-bedroom apartment in the East Bay. Right now, she earns close to $80,000, with room to grow, and has plans to lease a home in the future so she can accommodate more students, reports Business Insider.

The funding for her private preschool came with the help of a Silicon Valley startup, Wonderschool.

This free market solution is completely changing

How to Debate Paul Krugman and Other Socialists Who Claim Sweden and Denmark Are Socialist Success Stories

By Robert Wenzel

Paul Krugman just put out this pro-socialist tweet:
It sounds like he is running the New York Times in-house chapter of the Democratic Socialists of America.

Krugman must certainly be overjoyed with

Wednesday, August 15, 2018

An In Your Face One Minute Introduction to Property Rights

This is great on so many levels.


(ht Payton Quackenbush)

Ah Yes, the Safety of Cryptocurrency; The $24 Million Dollar Loss via Cellphone

Yes, soon we will all be using cryptocurrencies to pay for retail purchases by cell phone.

But, not so fast.

CNBC reports that a U.S. investor filed a $224 million lawsuit against AT&Ttoday, accusing
the company of negligence that allegedly caused the California resident to lose roughly

Erdogan Goes Tariff Crazy: 60% Tariffs, 120% Tariffs and 140% Tariffs

Recep Tayyip Erdogan
By Robert Wenzel

In response to President Trump authorizing the implementation of higher tariffs on aluminum and steel imports from Turkey last Friday, President Recep Tayyip Erdogan has foolishly responded by instituting a stunning series of high tariffs that will do nothing but hurt Turkish consumers.

Turkey’s Official Gazette reports this morning that the government had raised tariffs on a wide range of U.S. imports, including passenger cars, tobacco and alcohol.

The decree, which was signed by Erdoğan, raised tariffs on alcoholic beverages by 140 percent, on tobacco by 60 percent, and on passenger cars by 120 percent.

Tariffs were also

Hey Millennials, Don't "Fall" For the Scam Message on the Homepage of the Social Security Website

By Bill Bergman
Late last year, the Social Security Administration unveiled a new website, which allows people to log in and view their Social Security statements, including earned benefits.
The front page of the website shows a youngish man wearing sunglasses looking out over the ocean, bearing the headline “Set yourself free,” and a sub-headline “Open a my Social Security Account today and rest easy knowing you’re in control of your future.”
This message, however, is deceptive at best.