Big Government advocates often claim that we have government to thank for our modern 40-hour work week. In the bad old days, businesses forced employees to work super long hours, but then benevolent government stepped in and forced all businesses to limit the work week to 40 hours. How much of that is true? Let’s … Continue reading How did we get the 40-hour work week?
One reason that people support larger government is because they assume government rules and programs will accomplish their stated goals. However, this rosy view is often not supported by reality. Let’s look at an interesting example that was in the news recently. The background A May 19th Wall Street Journal article points out that certain ritzy … Continue reading Crazy example of banks twisting the rules
Some people believe that corporations in a capitalist economy wield tremendous power. Hollywood movie plots reinforce this view by depicting corporations as powerful and shadowy entities. Is this accurate? Not really. In the real world, (a) corporations wield far less power than imagined, (b) consumers and employees hold more power than they think, and (c) … Continue reading With capitalism, who holds power?
Most products and services have become more affordable over the past half century due to lower prices or wages growing faster than prices. But not all products and services are more affordable. College stands out as a stark exception. Why has college become less affordable? Skyrocketing college cost First, let’s look at some data to … Continue reading Why is college expensive?
One reason people don’t like capitalism is because they think it is unfair. One reason people think capitalism is unfair is because they believe that crony capitalism is the same as free-market capitalism. It is not. In fact, crony capitalism is closer to the opposite of free-market capitalism. What is crony capitalism? Crony capitalism is … Continue reading Crony Capitalism ≠ Capitalism
Some people justify Big Government by claiming that it helps the Little Guy. This romantic view is largely political salesmanship. Big Government is more about helping politicians, government workers, and powerful special interest groups than the Little Guy. Let’s look at how government policies harm the Little Guy. Little Guy realities Before we begin, let’s … Continue reading Government helps the Little Guy?
You may have seen headlines saying that CEO’s make 300 times more money than the average worker. These can be deceptive. The data may not be comparable, or cherry-picked for “wow” factor based on only the largest companies. I realize this post may be unpopular, even though it is not a full defense of CEO … Continue reading Are CEO’s overpaid?
My posts don’t normally get into politics. I do point out problems caused by Big Government, and warn people to be on guard against expanding government, but I don’t normally get into the D versus R thing. However, in this post I will discuss the fact that Democrats keep calling Trump a totalitarian. They claim … Continue reading Who is Totalitarian?
I think one reason some people don’t appreciate free-market capitalism is that they take prosperity for granted. They don’t really notice how prosperity has improved over the decades, so they don’t really think about how it happened. This is somewhat understandable. The slow unfolding of events over decades and centuries makes it difficult for anyone … Continue reading Prosperity Time Machine (1 of 2)
The growth rate of the US economy has been in the news recently, for a couple reasons. First, economic growth in recent years has been lower than the historical average of roughly 3%. This has led some people to predict low growth as the new normal. Second, the budget released last week by the Trump […]