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Economics is reality and has been for millennia

I recently had an interesting (and short, because he quickly blocked me) conversation on Facebook with a self-styled “anarcho-primitivist” named Justin Stout. He claimed that “economics is a form of brain damage” and went on to make his case thusly: Nomadic gatherer-hunters produced nothing. A hunter does not produce wild animals. A gatherer does not …

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Capitalism for dummies (and socialists)

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. Why would I …

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Beating the system through counter-economics

No matter who becomes president, the ‘war on drugs’ will continue. The prisons will stay full. Little old ladies will still get arrested for not mowing their lawns. The police will continue to kill people every day. No matter who becomes president, the drones will keep flying—and killing. The surveillance state will continue hacking and …

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Poverty versus Prosperity

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. I’m not discounting the often significant obstacles which can …