Home / Archive by category "Economy"

Economy

Your Bills and Budget Don’t Add Up – Now What?

The Magic isn't Free
Disney CEO Bob Iger has a skill set few people in the world have. That he makes millions is justified by the rarity of such people and the labor they perform and its value to the company. While I greatly value my Disneyland Dole Whip and Churro I could literally get them myself. There is no special skill set required for these tasks. I find it difficult to understand how someone could NOT understa...
Read More

Being Poor – If You Want

Coal Miner
The linked article is an interesting read. It's also a bit schizophrenic. On the one hand it seems to decry government as the problem, and on the other it seems to suggest a more socialistic government would solve it. I don't know if that's because I'm reading too much between the lines or because the author of the piece doesn't equate socialism with tyrant the way I do. I make that connection bec...
Read More

The Spirit of Value

Value
Value is something people probably don't think about too often even though they are faced with it every single day. As a matter of fact, value is the primary behavioral motivator of human beings. We do what we do based on what we value. There are many theories of value. For example the rather Marxist theory of value as a product of labor. How much work goes into a product determines its value. ...
Read More

Socialist Alexandria Ocasio-Cortez: A Knife in Need of Sharpening

Dumb as a box of rocks
I have two saying I often use to express my wonderment at some people. I say either, "They're as dumb as a box of rocks" or I say, "They don't have the brains God gave a stick." I have a feeling Alexandria Ocasio-Cortez falls into one of those two camps. It has often been said that socialists lack a basic understanding of economics. This is no less true of newly primaried socialist Alexandria O...
Read More

Is it Charity or “Philanthrocapitalism”? – Libertarians Beware. 

Billionaire giving lots of money away
This article is one reason we have such an uphill battle when trying to reduce government. Libertarians especially are big on saying that things should be done, and could be done, voluntarily and if the rich want to increase taxes to help the poor then they should just give away their money and do it already! I agree. I think the government should do much less than it does (almost nothing) and tha...
Read More

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...
Read More

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, ...
Read More

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...
Read More

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...
Read More

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. ...
Read More

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...
Read More

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...
Read More

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...
Read More

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...
Read More

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 ...
Read More
Top