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Economy

Socialism Grows from Guilt and Fear

Baby with gold coin
1% is such a small number of people to hate after all. It should be expanded to 9.9% so that includes so many more people worthy of righteous indignation and disdain. And, conveniently, the article says, "You’re probably part of the problem." And what is the problem? This group is successful and they pass that success on to their offspring. "The meritocratic class has mastered the old trick of con...
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Bill Harris finally says it, “Bitcoin is a scam”

Coin on eyes like a dead president but they are bitcoins
The below editorial is from Bill Harris, Founding CEO of PayPal, former CEO of Intuit and Personal Capital. That's all laid out there as his appeal to authority. He says something about Bitcoin that I've pondered but not come out and said since I'm not sure. He writes, "I’m tired of saying, “Be careful, it’s speculative.” Then, “Be careful, it’s gambling.” Then, “Be careful, it’s a bubble.” Okay, ...
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Minimum Wage: the Value of an Hour

Two angry men and a dollar
How much is an hour worth? For me that question has an easy answer though not a simple one. The answer is, whatever someone will pay. The complex part comes when we try to figure out all the variables that go into creating that value. But in the end it really does boil down to whatever someone will pay. In a sense it also is partly answered "whatever someone will take" I suppose but even that real...
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America isn’t going broke America is broke

Throw money at it
This article was shared in the comments by Platypus Club member David Grantham. It points out some data that David called, "staggering". I have to agree. The article begins with an erroneous claim, "Entitlements are driving deficits and debt. Absent reform, the problem will soon become a crisis." It is erroneous because it already has become a crisis, in fact, it has long been a crisis but one tha...
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Just because Capitalists are bad doesn’t mean Capitalism is bad

I am a fan of capitalism. I sometimes call it a system, or economic system but truth is capitalism is just the natural outgrowth of human interaction. It's built into us. Socialism requires force because it's not built into us. Kids in a lunch room have a natural understanding of how much they value the tuna sandwich they have vs how much they value an orange a friend has and trading takes place. ...
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Corporations are people. Lots of people. People with rights.

teddy roosevelt
Literally speaking corporations aren't people. Literally speaking corporations are legal authorizations recognizing multiple people as a single person under the law. So, in a legal sense Wal-Mart is a person, a legal person, not a literal person. But figuratively speaking corporations are people in that they represent many individuals. A larger corporation could have more than a thousand people re...
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Socialism and Democracy Murdered Venezuela and Money is Meaningless.

There is so much about Venezuela that is instructive. First and foremost is that Socialism, every time it is tried, doesn't work. The second is why Libertarians are always on about fiat currency and the Federal Reserve. Paper money, while useful, is nothing if not backed by something of actual value. As long as things move along nicely and we all agree on certain things un-backed currency does oka...
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Sexual Harassment and the Gender Pay Gap

Female executive looking out window
In part, I take exception to the phrase, "a growing body of research" because one single study in addition to zero is "growing". So that's a meaningless phrase. They let on that they know this with phrases like, "...In one of the only studies that looks at the ..." Though it may be a growing body of research it's not much of a body to begin with. That said, the article does two things that I th...
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Economics is the science of complex and organic systems

Ants and Cars in traffic, complex and organic
The below linked article is a fine piece from Being Libertarian. It describes the science of economics. "When we look at the science of economics, the heat we measure is undoubtedly prosperity. Just like how cold is the absence of heat, poverty is simply the natural state of things in the absence of prosperity. If we take a group of individuals and place them on an island, their starting point wou...
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Stone, Robots, Bronze

Man on a Wagon
I know that it's tough to end up unemployed because the boss installed a machine at the toothpaste factory to do your job of screwing the lids on. It has to be tough and a surprise. And I suppose it's no consolation to the people who find themselves in that position that it has been going on since the dawn of man. We can trace many jobs that have been lost to mechanization. People used to need ...
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Payroll and Unemployment Reporting After Storms Show Media Bias

What does this chart really mean?
This story, is confusing. First I saw it with the headline "Employment rate falls for first time in 7 years." I then read some Democrat-types bashing Trump for ruining a 7 year streak.   Then I say a headline that read, "Unemployment down for first time in 7 years." Wait...what? I thought it was the employment rate. Those are two different things.   Finally I saw the headli...
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$15 an hour – are you really worth it?

Burgers!
"Ironically, the futuristic short-order cook has been developed to replace workers in one of the most progressive states in America. Several California cities have already raised the minimum wage as the state plans to push the rate to $15 by 2022." “This wage is not sustainable for a lot of companies… in that $5 increase, you’re talking about $12,000 increase per employee… where does that money...
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Is it time to stop paying farmers for doing nothing?

I'm a platypus that understands the incredible importance of farming and ranching to our nation. Unlike some who don't know where their food comes from and don't know an udder from a, well, you know, I have a healthy knowledge and respect for farmers and just what they mean to us. Cheap food (and cheap fuel) have been the driving forces (aside from liberty) of the American experiment. We need them...
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Net Neutrality: For and Against

Don't Unplug Me! Net Neutrality
The Against Side Net Neutrality can, at times, sound like a good thing. It's pitched as keeping the Internet fair, even, free (as in unrestrained) so that the big boys can't come in and push aside the little guys. The reason this has gained more traction among users is the fact that the Internet is no longer a novelty. Though I admit I have no official statistics for this I will wager that the ma...
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Health Insurance isn’t What the Left Thinks it is. What IS it then?

That's not how insurance works
Well, hello there everyone. I’m sure by now you have heard that the House of representatives has passed their Obamacare repeal and replace bill. I know you are just frantic wanting to know exactly what the big deal is. I’m here to tell you everything you need to know. Which is, absolutely nothing. Oh, before you tune out let me clarify that. What I mean to indicate is that for those of you who wis...
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