#Economics

‘Economist’ Paul Krugman Doesn’t Think Risk Deserves Reward

Published by on Dec 15, 2017

So-called economist Paul Krugman's latest screed expresses his fury that the GOP's proposed tax plan would include "a tax break for people whose income comes from owning a business rather than in the form of wages."

He characterizes this policy as proof that "Republicans despise the working class." Perhaps Krugman ought to revisit Econ 101 and reacquaint himself with the concept of 'risk.' … Read this article

Capitalism for dummies (and socialists)

Published by on May 12, 2016

The whole notion of capitalism is that those with capital are incentivized to invest it in order to obtain a profit. If profits are outlawed or significantly reduced through confiscatory taxation, the incentive to invest is reduced or eliminated.

If profit is forbidden, I have no incentive to invest rather than consume. … Read this article

How the minimum wage actually works

Published by on Mar 6, 2016

This graphic is an excellent illustration of how the minimum wage actually works. Despite what its proponents may claim, the minimum wage cannot lift people out of poverty. Instead, it will bury them even deeper by making them unhirable, a commodity whose value has fallen below the artificial price floor enacted by the state. … Read this article

Poverty versus Prosperity

Published by on Feb 27, 2015

No amount of government spending will ever "eliminate poverty" because poverty is not actually caused by a lack of money; it's caused by a lack of ambition and productivity. There are some exceptions, of course, but in the vast majority of cases, poverty is a choice. … Read this article