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.
Tag: economics
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.
Voluntaryists are Moral Agents, not Soothsayers
As a Voluntaryist, I do not claim to know how society will work without the state. I am not a central planner, fortuneteller, oracle, or soothsayer. The anarchist stance is only proclaiming that nobody has the moral right to rule and that my life is not owned by any politician or state. I live my life of my own accord and accept the consequences of my actions.
Government: Always a Bad Deal
When the average, well-trained statist says, “I’m proud to pay my taxes, because I like to have roads!” they are demonstrating not only a serious degree of Stockholm Syndrome (it’s pretty stupid to be “proud” of being forced to buy a product, even if the product is good), but they are also demonstrating profound economic ignorance.
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.
Nobody Owns Anything
Throughout my tenure as an anarchist one thing has always set me apart from everyone else: my beliefs around the concept of property and ownership. These are some real foundational beliefs for me, because it is based on them that I evaluate various things like “capitalism”, “socialism”, “communism”, even “economics” writ large. My beliefs on ownership are ones that I have largely kept silent about, but recently I have been feeling the need to sit down and elucidate my thoughts on the subject. So here it goes.
Why Does the Minimum Wage Debate Never End?
Has any science ever devoted so much time, effort, and cleverness to elaborate attempts to determine whether or not a central and indisputably correct tenet of that science – a tenet used without question to predict outcomes in general – fails to work as an accurate predictor for one very specific, small slice of reality as has been devoted by economics over the past two decades to determine whether or not the law of demand works to accurately predict the effects of minimum wages on the quantity demanded of low-skilled labor?
Ten Fundamental Laws of Economics
In the midst of so many economic fallacies being repeatedly seemingly without end, it may be helpful to return to some of the most basic laws of economics. Here are ten of them that bear repeating again and again.
My Political Objectives
A month ago I shared my result of “The Political Objectives Test” by Hello Quizzy. I was branded an “anarchist” with the summary beginning with this very true statement, “Liberty is so overwhelmingly important to you that you wish to eliminate anything that can interfere with it.” I found the test to be rather helpful in contrasting my views with others on the various topics it questioned me about. For that I wanted to present the questions here with emphasis (underlined) on the statements I selected, followed by some commentary and resources.