There are some people who believe that economic inequality is literally the biggest problem we face. I generally disagree. This topic is too large for one post. In this one, I’ll cover how much inequality we have in the US. In the next one, I’ll explain why inequality is less of a problem than commonly … Continue reading How much inequality does the US have?
Science is always true and accurate, right? Not necessarily. Irreproducible Peter Wood and David Randall of the National Association of Scholars wrote an article for the April 17th Wall Street Journal on this topic. They start out by saying: “Half the results published in peer-reviewed scientific journals are probably wrong. John Ioannidis, now a professor of … Continue reading Faith in science
In the past couple months, people have been promoting the idea that government should provide guaranteed jobs. Let’s explore why this is a bad idea. What is happening The general idea is that government would provide a guaranteed job to anyone “who wants or needs one.” The number of jobs would probably be in the … Continue reading Why government-guaranteed jobs are a bad idea
Based on my personal observations, a number of people think that natural resources make a country rich. Or that a country must have significant natural resources to become rich. Is this true? Let’s take a look. Resources are good Sure, it’s generally a good thing if a country has lots of natural resources like oil, … Continue reading Do natural resources make a country rich?
People often talk about the rights they have. “Our right to free speech is being eroded.” “We all have a right to decent healthcare.” And so on. We do possess certain rights. However, rights are not limitless. We possess some rights, but not others. Which rights do we have, and how can we tell the … Continue reading What rights do we have?
Some occupations require people to obtain a license before they can work in that profession. Is this good for society? Let’s take a look. What is occupational licensing? An occupational license represents government permission to work in a certain profession. In some cases, permission is granted by a separate, government-approved body. Licensing laws vary, but … Continue reading A license to… shampoo?
Based on my personal observations, some people are overly negative about US economic results and living standards. They’re sure the poor are getting screwed, the middle class is stagnant, and economic success is no longer possible. They usually display this negativity in complaints about capitalism. Maybe this negativity is the anti-capitalist’s way of denying that … Continue reading Good news on poverty
You may soon read or hear media reports about a “CEO pay ratio.” Let’s look at the facts and flaws of this ratio. What is it? Each publicly traded US company is required to publicly disclose the CEO pay ratio. This requirement was included in the massive 2010 Dodd-Frank financial legislation, although it was delayed … Continue reading Facts and flaws of the CEO pay ratio
Does Fair Trade make sense? I don’t mean fair trade, as in “I’m in favor of free trade as long as it’s fair trade.” If you want my general views on free trade, see this post. I mean Fair Trade, as in the Fair Trade labeled coffee you see in your supermarket. Fair Trade goods … Continue reading Does Fair Trade make sense?
Here’s a quote from a January 27th Wall Street Journal article : “Are low prices putting your family at risk? Believe it or not, some regulators seem to think so. Twenty-six U.S. states still have a “minimum markup” law, a relic of Depression-era economics that prevents businesses from charging less.” We have laws against low prices? … Continue reading Laws against low prices?!