The Ferguson Effect
Last week  some news outlets took note of a big crime wave that began in Baltimore after six Baltimore police officers were indicted for the murder of Freddie Gray [See … Read More
Month: May 2015
Economy Becoming Increasingly Ill
Yesterday the government announced its first revision of first quarter annualized GDP growth. The revision, as expected, was downward so that Q1 growth  is no longer recorded as the first … Read More
Should We Fight ISIS? (2)
If we do go to war with ISIS, a large national commitment would have to be made in assets, both economic and military, to accomplish the task. Given both our historically … Read More
The Law of Marginal Utility
This is the last of the major neoclassical economic laws we must cover. It completes the basic framework of neoclassic economics around which other economic statements can be derived. See reference … Read More
How Should We Think About ISIS?
One big disagreement between the right and the left over the past year is how we should think about ISIS. Should we think of the conflict  between ISIS and western … Read More
Should We Fight ISIS? (1)
In the previous post I gave the opinion that we were more than capable enough to destroy ISIS if we would only decide to fight. I also opined that we … Read More
Memorial Day and ISIS
Today is Memorial Day, when we remember the past services and sacrifices of our veterans, and the present day sacrifice and service of today’s armed service members. Nobody but a … Read More
Ricardo’s Law of Comparative Advantage
David Ricardo by Thomas Phillips, oil on canvas, circa 1821 Wikimedia Commons / Thomas Phillips (1770-1845) The next classical law of economics we shall investigate is Ricardo’s law of comparative … Read More
Is Racism the Cause of Blacks’ Problems – Or is Government?
A new post by Walter Williams raises the subject of a perennial conflict between progressives and conservatives. What is the major cause of the social and economic problems of black … Read More
Further Thoughts on Say’s Law
After thinking on what I posted yesterday on Say’s law of markets, it seemed to me that the formulation of the law should be given some further thought. Certainly, Say himself was … Read More
Say’s Law of Markets
The next classical law we will look at is a statement that no self-respecting Keynesian would recognize as a law at all. Say’s law of markets was propounded by Jean-Baptiste … Read More
Secular Stagnation
It seems that some Keynesians, worried by the slow economic growth since we emerged from the “Great Recession” in 2009, are dusting off the old Keynesian idea of “secular stagnation.” Larry … Read More
Adam Smith’s Invisible Hand
Although it might not be immediately obvious to you, the law of supply and demand implies one of the most important functions of money. Everyone knows money serves as a … Read More
The Lessons of Europe and Wishful Thinking
The Editor-in-Chief of Forbes Media, Steve Forbes, has just indulged in some wishful thinking, which I share. The main story in the cited post is that Great Britain and mainland … Read More
The Law of Supply and Demand
The Muir portrait of the Scottish moral philosopher Adam Smith, the discoverer of the Law of Supply and Demand. Wikimedia Commons / Scottish National Gallery In this post I will … Read More
The Burden of Government Regulations
Just as we were wondering yesterday, along with Danny Vinik of the New Republic, what could be going wrong with the economy, the Competitive Enterprise Institute published its annual review … Read More
How Seriously Can We Take Economics As A Science?
Since we are going to be writing a lot about economics in this blog, we should spend some time figuring out how seriously we should take it as an authority … Read More
Hello world!
This blog is dedicated to investigating how people find different views of reality, and how these different views lead to human conflict. That is, it will look at ideas in … Read More