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Category Archives: Folk Economics
What’s in a Word?
Over at Marginal Revolution, Alex Tabarrok notes the emergence of discussions among libertarians about the shortcomings of the word “capitalism.” He cites some libertarian writers who have even started referring to free-markets as socialism, because they believe it more accurately represents the concept they are trying to convey. This sounds like a ridiculous notion that [...]
Got To Admit It’s Getting Better…
A lot better over the time. Even those who value a narrower income gap can celebrate these finding. If articles like this can’t convince people that the standard of living drastically improves over time, I don’t know what can.
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Lend Me Your Ears
Two links for your listening pleasure:
Thomas Sowell on economic facts and fallacies.
Libertarian economist David R. Henderson debates liberal economist Mark Weisbrot.
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Economic Sanctions Harm Innocent People
Sanctions don’t work in countries with strong governments. They haven’t worked for past the 45 years in Cuba. They haven’t worked in North Korea. Kim Jong Il will still get his Gucci sunglasses while ordinary North Koreans suffer from our blockade.
For whatever twisted logic or folk economics, on December 15th the House of Representatives voted [...]
Libertarians and Conservatives: Strange Bedfellows (pt. 1)
For better or for worse, the United States has a distinct two-party model. Conservatives are represented by the Republican Party and progressives by the Democratic Party. These are broad generalizations, but most people would describe themselves as one or the other. Both parties’ voters have wide ranges of intelligence. Yes, believe it or not, there [...]
Folk Economics
I considered titling this post “Folkonomics,” but I decided that the -onomics suffix is quickly becoming overused what with all the Freak-’s and the Superfreak-’s, not to mention Wendy’s new Threeconomics (three small sandwiches for three dollars). I have no time for cutesy neologisms. This is serious.
The term folk economics has been used by Michael [...]
Sowell, Mises, and the Pain of Going Against the Grain