All Posts Tagged With: "production"
Presidents Can’t Manage the Economy
The presidential candidates have been repeatedly asked how they would “manage the economy.” With the exception of Ron Paul, every candidate has accepted the premise that this is something the president of the United States should do. Or can do.
Nonsense.
Democrats act like the president is national economic manager. Republicans pay lip service to free markets, [...]
Perspective ~ An Unstimulating Idea
“It’s like taking a bucket of water from the deep end of a pool and dumping it into the shallow end.”
That’s how George Mason University economist Russell Roberts describes the logic—rather, illogic—of the economic “stimulus” proposals that everyone and his uncle have been proposing.
If we needed further demonstration of the folly that is the American [...]
Polluting Production
Politicians use language differently from the rest of us. Take the expression “Big Polluters.” Big Oil produces oil. Big Pharmaceuticals produce medicines. I guess Big Polluters produce air and water pollution.
What’s more, they somehow make big profits doing so. How this works I’m not sure. Who would pay for pollution?
Obviously, there are no businesses that [...]
What Price Socialism?
Admiral Moreell is Chairman of the Board of Jones and Laughlin Steel Corporation.
Modern socialism in its several varieties is the culmination of the dreams of countless men and women during the past century and a half. It is a movement which began to crystallize out of the chaotic remnants of the French Revolution. The [...]
Serving Others
Mr. Fairless is Chairman of the Executive Advisory Committee, United States Steel Corporation.
Ours would indeed be a sorry world if self-interest did not activate individuals to serve one another.
As far as I know, there are only two basic motivations that cause you and me and other people to serve our neighbors voluntarily and [...]
A Free Market
Admiral Moreell is Chairman of the Board of Jones and Laughlin Steel Corporation.
What is meant by “the free market”? To answer this question we have to go back a step or two. Economics deals with desired goods in short supply. Air is not generally an economic good because there is enough for everyone and [...]
The First Law of Economics
Mr. Reinach is a financial consultant, formerly a member of a New York Stock Exchange firm.
The economic facts of life are many. But the grandfather of them all is the law of demand and supply. If this one law alone were thoroughly understood, it is highly improbable that government interference in the market place [...]
Why Wages Rise: 2. Productivity
Dr. Harper is a member of the staff of the Foundation for Economic Education.
Editor’s Note: In the first article of this series (March 1956 issue) it was shown that unions have no perceptible influence on national wage rates, if we may judge from changes in union membership and wage rates over the last century. [...]
The Longer We Live
Mr. Rucker is President of The Eddy-Rucker-Nickels Company, Management Consultants.
The difficulty of satisfying immediate needs during our working lives leaves many of us with little time to think of the economic challenge of retirement. But the challenge stands.
Just now the senior citizens of the United States number more than 12.5 million; population experts [...]
The Perfect Price
Mr. Fairless is Chairman of the Executive Advisory Committee, United States Steel Corporation.
What determines the price of a ton of steel? Who sets it? Just what is the policy of United States Steel as to prices?
Along with other successful American industries, we in the steel business learned a long time ago that the [...]
The Essence Of Capitalism
Mr. Buck is statistician of The Toronto Dominion Bank.
One of the inescapable facts of human life is that we must choose among alternatives. That fact furnishes us the clue to economic science.
It is as simple as this. Two years ago, I wanted to hear a recital by Anna Russell and an address by [...]
Letters
Unquestionably, one of the most effective forms of communication is a thoughtful letter written to a person in answer to his own question.
The staff members of the Foundation for Economic Education write thousands of such letters each year. Some of these are, in effect, short articles on “general interest” subjects not fully covered in previous [...]
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Book Reviews
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The End of Prosperity: How Higher Taxes Will Doom the Economy–If We Let it Happen
By Arthur B. Laffer, Stephen Moore, and Peter J. Tanous
