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Trade, Tariffs, and some Basic Economics

Why does trade occur? Fundamentally, trade takes place in order to better the lives of those participating in the trade. You trade money for food because you are hungry and money doesn’t taste very good. Each party values what they are trading away less than what they are receiving in return. That is why the …

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Killing the American Meritocracy

The American Dream is under attack like never before—not just the ability to fulfill the dream—but its very concept and history. At the core of the American Dream is the idea of meritocracy. There is no royalty in America, no titles of nobility, no entrenched caste system. You could be born anywhere, to anyone, and …

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Without profit, there would be no investment

Among the numerous fallacies embraced by socialism, one of the most notable is completely ignoring the value of investment and risk. Socialists love to talk about the value of “labor” and how profit is made on the backs of “labor,” but they ignore the fundamentals of human nature and of how the market actually works. …

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

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 …