Category: Economic Fallacies

Energy Independence (Autarky) Makes Us All Poor

If you enjoy the soft warm glow of an incandescent light bulb then you might want to head over to your local hardware store and stock up. As of January 1, the manufacture or importation of 40- and 60- watt light bulbs has been outlawed (100-watt bulbs were banned in 2012 and 75-watt in 2013).  […]

Minimum Wage: Be careful what you wish for, you might just get it

Last Friday a group known as “Fast Food Forward” (tightly affiliated with the SEIU union) led a series of demonstrations in over 100 US cities at fast food restaurants where they called for a near doubling of the federal minimum wage to $15/hour. In further news there were a number of similar demonstrations in which […]

December 09 / 2013

The Giving Tree of Debt

It’s that special time of year once again – The Giving Tree in Washington DC sheds its last few monetary leaves as fall approaches. The congressional summer recess has left the tree starving for the one thing it needs to flourish and produce those precious greenbacks: BS. As the pontificating blowhards in Congress resume their […]

Changing the Rules of the Game

September 1 will mark the end of an era, at least in Georgia anyway. This is the date that Amazon.com must begin collecting sales tax in Georgia. Some day you will wax nostalgic and regale your grandchildren with stories of how there was once a place where people could escape the clutches of intrusive government: […]

August 14 / 2013

Bangladesh Robber Baron fallacy

Just read this article about the Bangladesh factory disaster this morning. Truly terrible what happened, however the usual progressive/statist smugness comes to the surface pretty quick in the comments “oh see what the free market causes, we need government to save us from these evil people.” Here’s my response on the board to that sentiment […]

May 10 / 2013
Author Greg Morin
Comments No Comments

A tax by any other name

And so it has come to pass – nearly 100 years since the post office ceased Sunday mail delivery (dropped in 1912 primarily due to religious and workers rights reasons) the United States Postal Service will cease Saturday mail delivery later this year. This time the reasons are financial rather than ecclesiastical. The Postal Service […]

February 18 / 2013

Mo’ Money, Mo’ Problems

It has recently come to my attention (thank you George Warren) that the economist Steve Keen has proposed a solution to our economic woes: the government should give people money to pay off their debts. According to Keen it is the high level of private debt (about three times that of annual US GDP ) that […]

“Wimpy” Governance

“When I use a word,” Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” Words to live by for those in government. For example, the word “surplus” is supposed to denote the result of consuming less than one receives. But that is not the […]

December 26 / 2012
Author Greg Morin
Comments No Comments

Warning, Warning!

“New Jersey has a tough price gouging law to ensure that profiteers will not take unfair advantage of people at their most vulnerable” Governor Chris Christi Unfair advantage – so who exactly is the Solomonesque arbiter of that which is fair and unfair? In this case the states of New Jersey and New York. And […]

November 13 / 2012

Keynesian Coin Toss

Hurricane Sandy wrought not only terrible destruction this past week, it likewise whipped a few economic fallacies to the surface. Chief among these was the unwarranted attacks on the “price gougers” and the stunning ignorance of those pontificating on the “prosperity through destruction” meme. I shall defer my defense of the gougers and turn my […]