Sound economic thinking is vital for a prosperous future. Economics is the study of human action—the choices people make in a world of scarcity. Scarcity means that people have unlimited wants but we live in a world of limited resources. Because of this fact people have to make choices, and choices imply trade-offs. The choices […]
Bitcoin was created as part of the grand dream of sound money and individual liberty, not as a tool to empower tyrants. On June 19, Colombians elected the former socialist guerrilla, Gustavo Petro, as president of the nation. The Marxist, a deep believer in state intervention in the economy and redistribution of wealth, in 2017 […]
On Sunday evening—July 17, 2022—at the Greenwood Park Mall in Indiana, a gunman opened fire in a food court. He killed three people and wounded two others. He might have murdered many more but for the quick work of a man named Elisjsha Dicken, who pulled out his own gun and blew away the assailant. […]
A common (legitimate) concern with nuclear is unhealthy radiation, its usage actually emits less radiation than the burning of coal. There is a deafening silence surrounding nuclear energy. Yet, if you are to believe the current climate alarmism on display, the world’s future is hanging by a thread. Indeed, the forceful climate marches in London last week, […]
The Chips Act is a classic case of the government helping special interest groups at the expense of taxpayers. Of all the problems in the world right now, the chip shortage probably isn’t the chief concern for most people, but that doesn’t mean it’s not a serious issue. The auto and tech sectors have faced […]
Ending the Department of Education may seem like a radical idea, but it’s not as crazy as it sounds. The debate over the federal role in education has been going on for decades. Some say the feds should have a relatively large role while others say it should be relatively small. But while most people […]
In 1787, as Benjamin Franklin left the final session of the Constitutional Convention, he was asked what form of government the delegates had given America. “A Republic,” he answered, “if you can keep it.” Spoiler alert: we didn’t. In 1963, Leonard Read warned Americans that “our once-upon-a-time Republic” was degenerating into something else; “we are headed into […]
“Concentrated power is not rendered harmless by the good intentions of those who create it.” During a speech at Harvard several years ago, Charlie Munger related a story about a surgeon who removed “bushel baskets full of normal gallbladders” from patients. The doctor was eventually removed, but much later than he should have been. Munger, the vice […]
Why was the program so wasteful? The answer is surprisingly simple. We’re finding out more every day about the true cost of Covid-19 policies. Economists Jeffrey Clemens, Philip G. Hoxie & Stan Veuger recently released a paper titled Was Pandemic Fiscal Relief Effective Fiscal Stimulus? Evidence from Aid to State and Local Governments. The National Bureau of Economic […]
Thomas Kuhn’s 1962 work “The Structure of Scientific Revolutions” revealed why we should not confuse scientists with science. “Attacks on me are, quite frankly, attacks on science,” said Anthony Fauci to widespread ridicule or approval, depending upon which side you are on. If you doubt his judgment personally, you must not believe in “the science.” Fauci went […]
Many individuals feel they have no choice but to follow the herd. These quotes will help you break away. The author Dorothy Sayers (1893-1957) once observed that one of the downsides of the modern age is that humans are ill-equipped to resist an endless onslaught of messaging (the “incessant battery of words, words, words.”) Literacy […]
The vicious backlash to DeVos’s remarks actually reveals a broader lesson about just how difficult it is to scale back government once it is expanded. Former Education Secretary Betsy DeVos was one of the most controversial members of former President Trump’s cabinet. Few officials in the entire administration earned the same level of mainstream media ire and […]
Importantly, the Cornell University-funded study found that both natural immunity and vaccines offer “strong and durable protection” against Covid-related hospitalization and death. News reports say the Biden administration is currently weighing a plan that would allow all adults to receive a second Covid-19 booster, citing concerns from White House chief medical adviser Dr. Anthony Fauci about the […]
Since the 1920s, atmospheric CO2 concentrations increased from about 305 parts per million to more to more than 400 ppm. The latest talking point of progressive politicians, pundits, and activists is that America cannot afford not to spend trillions of dollars to “solve the climate crisis” because global warming is an existential threat. As Sen. Bernie Sanders (I-VT) put […]
Virtual cashiers may be coming to a restaurant near you. A new start-up called Percy is based on a simple yet revolutionary idea: virtual cashiers. Essentially, a video calling device is set up at the cash register of your local restaurant or shop. When you want to buy something, you are connected with someone in a […]