I’ve come to the conclusion that the world would be better off had there never been the sub-discipline within economics of “international economics” (or, alternatively, of “international trade” and “international finance”). The economics profession likely also would be better off without such a sub-discipline.
Category: Editor’s Picks
12 Amazing Reasons Why Dogs Are Good to Help Raise Children
Animals have always played an important role in many people’s lives, since time immemorial. Dogs are the most common animals to have stood by man and have become one of the most beloved household pets, up to the modern day. They have been valued not only as companions but also as family members who have significantly impacted the quality of life of both the parents and children.
From Waldorf to Unschooling
My husband and I have been Unschooling our daughter (age fifteen) and son (age nine) for nearly seven years. I’m a former Steiner Waldorf Class teacher turned Unschooling Mum, as well as an artist and blogger. We are very blessed that my husband works freelance and is a very hands on dad. He’s a filmmaker, editor and all round computer genius which is very useful for our children, who have a keen interested in creative technology.
At the Heart of Protectionism is a Fear of Prosperity
The primal man-in-the-street fear of free trade – and fear of other labor-saving innovations – is a fear rooted in a completely mistaken understanding of reality. It is a fear that we humans (or at least we in our country) are on the verge of conquering scarcity and of transforming the world (or at least our country) into one of superabundance. This fear is truly irrational.
Geography Does Not Modify Justice
Can you imagine the devastation it would cause if South Korea “built a wall,” posting armed guards along the border to keep North Koreans where they are? Can you imagine the travesty this would be to an oppressed people looking for hope? Looking for a future without constant misery? Can you imagine how horrible it would feel for Korean refugees—rather than being welcomed with open arms and congratulated for escaping oppression—to be shunned and labeled as “illegal immigrants”?
In Praise of Political Apathy
My children are both non-voters. They have little to no interest in politics. To them it is a big waste of time. They have more important things to do – like develop careers, enjoy the company of friends, have a good time and just live their lives. Some, on both the left and the right, would condemn them as apathetic.
Countries Are Not Companies
One of the most persistent false beliefs held by American voters is that someone with “business experience” would do a better job “running the economy” than politicians have. Let’s put aside the idea that an economy is something that needs to be, or can be, “run” and explore whether a CEO of a major company as president really would be better for the economy.
The Lament of the Merely Decent Economist
The first eye-opening moment for an attentive student in a good introduction-to-economics class occurs when that young man or woman learns to see – or learns to look for – that which remains invisible to most people. Such a student starts to search for the unseen jobs lost as a result of the ‘seen’ jobs created or protected by tariffs. He or she begins to understand that government-imposed prohibitions on the free movement of prices and wages have unseen consequences – invariably bad, and typically borne disproportionately by the very persons the prohibitions are ostensibly meant to help. The man-in-the-street has lots of wrong-headed ideas about economics.
Freer Trade Is Deregulation
For those who like competitive markets, the prospect of a Trump presidency has not held a great deal of promise. His love of discretionary power, his weak understanding of economics, and his long history of cronyism all suggest that the next four years will not be a good time for those of us who think that market capitalism is the best economic system for raising the overall standard of living, and especially for the least well off among us.
Human Evil and the Free Market
It is very common to assert that the advocates of the purely free market make one fundamental and shaky assumption: that all human beings are angels. In a society of angels, it is commonly agreed, such a program could “work,” but not in our fallible world. The chief difficulty with this criticism is that no libertarian—except possibly those under Tolstoyan influence—has ever made such an assumption.