A fun figure from Tetlock et al.’s “The Psychology of the Thinkable”: Background: Participants were told that the goal of the study was to explore the attitudes that Americans have about what people should be allowed to buy and sell in competitive market transactions: Imagine that you had the power to judge the permissibility and […]
The post You’re All A Bunch of Socialists appeared first on Econlib.
Whenever my children express an interest in economics or are curious about the ideals of freedom and responsibility, I can barely contain my excitement. It wasn’t until college that I discovered, and fell in love with, economics, and it wasn’t until much later that I understood liberty as a life philosophy. Fortunately, I can avoid stifling their budding interest by drawing demand curves or quoting Hayek and Hazlitt (though I’ve been known to do both!) and turn to some outstanding resources just for kids. Designed to introduce economic principles and the foundations of a free society to young children, these tools are interesting, engaging, and easy-to-understand—for children and adults alike!
Today (9/1) is the 80th anniversary of the start of World War II, the deadliest violent conflict in human history. Death tolls vary, but often reach 80 million souls. What caused it? Lists of proximate causes never end, but the only credible “root cause” is simply: ideas.
Nowadays Americans collectively spend more than 6 billion hours each year filling out tax forms, keeping records, and learning new tax rules according to the Office of Management and Budget. Complying with the byzantine U.S. tax code is estimated to cost the American economy hundreds of billions of dollars annually – time and money that could otherwise be used for more productive activities like entrepreneurship and investment, or just more family and leisure time.
“Freedom is diminished daily; the excesses of reaction and repression become larger and bolder; the unthinkable glows forth on our television screens each night, and the unspeakable flows glibly from the mouths of high government officials. “
Plans for the Boston Public Library, the nation’s second-oldest public library, were approved in 1852, the same year Massachusetts passed the country’s first compulsory schooling law. Both public libraries and public schools are funded through taxation and both are “free” to access, but the similarities end there. The main difference between public libraries and public schools is the level of coercion and state power that public schooling wields.
There are many things I don’t know. There are things I think I know but I get wrong. There are also things people may believe I’m wrong about, but I’m not — a topic for another day. When I’m wrong, I want to be wrong in the least harmful way possible.
Some prominent sociologists argue that teen pregnancy, when it occurs, is functional. Teen pregnancy is a foolish life choice for middle-class teens, because they’re sacrificing bright futures. Lower-class teens, in contrast, don’t have bright futures to sacrifice, so why wait to become a parent? I’m skeptical of the underlying counter-factuals, but never mind that.
To the best of my understanding, the lack of ethical consistency in today’s culture has led, and continues to lead people toward further social, economic, and foreign policy disasters. For this reason, I wanted to go over the concept of ethical consistency as I see it, the definition of the term, and some examples of how it’s applied in real world scenarios.
Through the ages, many observers have noted how markets promote peaceful and mutually enriching dealings among people of varying languages, customs, religions, and backgrounds. Voltaire’s account of this matter is a classic. I rediscover this time-honored truth virtually every day while living in Mexico.