What is Money?

The word “money” comes from the Latin moneta, which is where coins of precious metal were made and stored. Precious metals naturally rose to the top of money markets because they are scarce, long-lasting, and valued by weight. Gold in particular became the standard for money because it is uniquely suited to serve the purposes of money.

Millennial Socialism, Teachers’ Strike, Fat Capitalist Bezos, & Work or Die (26m) – Episode 448

Episode 448 has Skyler giving his commentary on the following entries to r/shitstatistssay: @NathanHRubin writes, “Millennials don’t hear socialism & think about the USSR or the Cold War… we think about Canada, Switzerland…”; PixPls writes, “It’s time that teachers stood up to their states and just said ‘No’. And while they are at it, a 20% raise is in order.”; Wordsmifff2991 writes, “The biggest cause of poverty is greed… Yes Jeff Bezos I’m talking to you.”; and NeonDepression writes, “There wouldn’t be any value without labor period. The worker HAS to create it for there to be any wealth whatsoever. Property inherently is theft… There is no such thing as a free market when people are forced to work in order to live. Thats called coercion.”

Homeless Camping in Austin: A Modest Proposal

This winter, I’m a visiting scholar at the University of Texas.  Though Austin is gorgeous, visitors can’t help but notice vast homeless villages scattered throughout the city.  Local sources tell me that this is driven by Austin’s repeal of the ban on homeless camping.  One of the economists I’ve met here has written a Swiftian proposal for reforming Austin’s approach.  The author prefers to remain anonymous, but this is printed with his permission.  Engage your sense of satire, and enjoy!

COVID-19 Lockdowns: Liberty and Science

The Chinese Coronavirus (COVID-19) hit American shores — officially, anyway, there is significant evidence that it arrived earlier — in late January 2020. The American public was then told that a two-week shutdown of the economy would “flatten the curve,” relieving the pressure on hospital intensive care units and saving lives in the long run. The average American, including conservatives,…