The popular humor website “Cracked.com” recently published a thought provoking article entitled “5 Popular Forms of Charity (That Aren’t Helping).” The five charitable activities mentioned were (1) awareness campaigns, (2) donating clothing, (3) choosing your charity based on its overhead, (4) earmarking donations, (5) volunteering after disasters. The author’s arguments for why each of these…
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Welfare is Mean-Spirited and Bad Economics
In his latest New York Times blog post, MIT professor and former chief IMF economist Simon Johnson fallaciously argues that those who oppose welfare are mean-spirited and bad at economics. After reading this post, you’ll see it is actually Johnson who is the bad economist.
The main problem with unemployment benefits, or government handouts, is…
Waste and Fascism: Obama’s State of the Union Address
Prosperity, stability, security – these are things people generally desire. Obama did a great job alluding to these ends in his State of the Union speech a couple of days ago. Unfortunately, a disastrous problem arises when you choose the wrong means to achieve desired ends. The mistake of choosing the wrong means occurs when…
Keynesianism is Against the Law, Say’s Law
As the recession continues, economists like Laura D’Andrea Tyson, the Chair of the Council of Economic Advisors under President Clinton, advocates spending as the pathway out of our economic banana. In her latest post on the New York Times economics blog, Tyson tells us that in order for the economy to recover we need an…
The Only Supporters of a Free Market are Children!
Those of us who are mature, sophisticated, and all grown up know that without government regulation we would all live in slums and be poisoned by the food we eat. Or so Huffington Post writer Carl Gibson would like you to think in his hit piece on Ron Paul’s free market ideas. In this article,…
MIT Economist, Former IMF Chief Engages Ron Paul on Banking and Makes an Interventionist Mistake
Ron Paul’s economic philosophy and book End the Fed got some crucial publicity and thoughtful debate on Saturday. Simon Johnson, MIT economist and former IMF chief-economist, wrote in the New York Times economics blog that more people should take Dr. Paul seriously. Unfortunately he advises Dr. Paul promote some very anti-free market, and counter-productive measures.…
Did The Economist Present Austrian Theory Accurately?
As krlatham pointed out yesterday, it is wonderful to see the Austrian school get a shout out in such a noted publication as The Economist. While it is true, in a sense, that all publicity is good publicity, there were some shortcomings in The Economist’s representation of Austrian theory.
The author writes that “Austrians see…
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Reality TV Inventor Loses Big to ‘Buy American’ Fallacy
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Unlearning Economics
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MIT Economist, Former IMF Chief Engages Ron Paul on Banking and Makes an Interventionist Mistake
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The Monopoly Bogeyman
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How My Naïve Perception of the Economics Profession Eventually Changed
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Tenets of Economic Faith
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Economics as Religion: The Paradox of Self-Interest
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Waging War on Work
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The Dark Side of Monetary Inflation
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In Praise of Speculators
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Chris A: With due respect Nicholas, I think is has zero int...
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Nicholas Freiling: Chris, What effect do you think economic inter-...
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David: Doesn't the Fed increase the money supply by purc...
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