How the Fed Makes Unemployment a Good Thing

This article was originally published at Valuesandcapitalism.com on December 3, 2013. Imagine a world where unemployment is good—where fewer people working means more prosperity. Both time and resources would be infinitely abundant. Consumer goods would invent themselves. The standard of living would improve most swiftly when human beings stay out of the way. This world, […]

Placing Blame Where Blame is Due

This article was originally published at Valuesandcapitalism.com on November 29, 2013. In his book “Life at the Bottom,” Dr. Theodore Dalrymple describes the common behaviors that he observes in many of his lower-class patients. Among the most apparent of these is an attitude of “dishonest fatalism”—a consistent unwillingness to accept blame. “The knife went in,” said […]