Thursday, February 23, 2017

Ten Great Economic Myths

Ten Great Economic Myths: Our country is beset by a large number of economic myths that distort public thinking on important problems and lead us to accept unsound and dangerous government policies. Here are ten of the most dangerous of these myths and an analysis of what is wrong with them.

Primitive Minds - Cafe Hayek

Primitive Minds - Cafe Hayek: TweetHere’s a letter to a new and intrepid correspondent: Mr. Nolan McKinney Mr. McKinney: You point to Harley-Davidson’s resurgence, after Ronald Reagan drastically raised tariffs on imported large motorcycles, as “evidence of protectionism strengthening our economy.” Harley’s resurgence is evidence of no such thing.  The argument against protectionism is not that it doesn’t help the …

Sunday, February 19, 2017

Say's Law: The Antidote to Countless Economic Fallacies

Say's Law: The Antidote to Countless Economic Fallacies: To understand the principle that has been called Say’s Law, it is useful to start by thinking about what unhampered exchange is: the mutual offering of goods and services between people.

Friday, February 10, 2017

Price Controls and Propaganda

Price Controls and Propaganda: Most economists agree on one thing; price controls do not work. Many go on to say they create shortages of goods, which inevitably drives black market prices even higher than they would otherwise be. Price controls were last tried in the 1970s, and everyone swore, never again.