All Posts Tagged With: "wealth destruction"
War Would End the Recession?
In his September 28 New York Times blog post, Paul Krugman announced that “economics is not a morality play.” That turn of phrase is his way of defending the idea that in unusual times, such as the sort of deep recession we are in, we can get strange relationships between economic cause and effect. The result [...]
22Dec2010 | Steven Horwitz | 41 comments | ContinuedGovernment as Consumer
Destutt de Tracy, as I discussed in the June issue, was a French economist whom Thomas Jefferson did his utmost to bring to the attention of America. The first part of Tracy’s A Treatise on Political Economy (1817), the translation of which Jefferson arranged, is a primer in economics that will satisfy any aficionado of [...]
29Jun2010 | Sheldon Richman | 2 comments | ContinuedAll Poorer After the War
No part of the world can become permanently richer by an immense destruction of wealth in another part. Our prosperity is bound up with that of our neighbors. If my neighbor becomes poorer, he will have fewer surplus goods to sell me; he will not be able to spare them; I myself may have to [...]
1Nov2004 | Henry Hazlitt | 0 comments | ContinuedNinety Years of Monetary Central Planning in the United States
Ninety years ago this month, on December 23, 1913, the Congress passed the Federal Reserve Act, establishing a national central-banking system in the United States. The governing board of the Federal Reserve was organized on August 12, 1914, and the Federal Reserve banks opened for operation on November 16, 1914. On the surface, the preamble [...]
1Dec2003 | Richard M. Ebeling | 0 comments | ContinuedI, Government
I am government–the institution known the world over to all who pay taxes, get subsidies, and face regulation. Coercion is both my vocation and my avocation; it is in my very nature to compel others to do that which they otherwise would not do. My nature should then be of great concern to you as [...]
1Oct2002 | D.W. MacKenzie | 1 comment | ContinuedNo Silver Lining
We often see such comments after a hurricane, tornado, or earthquake. I never expected to see it after the horrors of September 11. But there was Paul Krugman, Ph.D. in economics and a New York Times columnist, writing it on September 14 for all the world to see: Ghastly as it may seem to say [...]
1Nov2001 | Sheldon Richman | 0 comments | ContinuedCreating Jobs vs. Creating Wealth
Government policies are commonly evaluated in terms of how many jobs they create. Restricting imports is seen as a way to protect and create domestic jobs. Tax preferences and loopholes are commonly justified as ways of increasing employment in the favored activity. Presidents point with pride to the number of jobs created in the economy [...]
1Jan2000 | Dwight R. Lee | 16 comments | ContinuedThe Socialist Dream Lives
K. L. Billingsley is a journalism fellow at the Center for the Study of Popular Culture in Los Angeles. The United Nations development agency recently rated nations on how they combat poverty, thereby providing valuable lessons in economics, politics, and even diplomacy. At the head of the list stands Trinidad and Tobago, a tiny Caribbean [...]
1Nov1997 | K. L. Billingsley | 0 comments | Continued-
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