May 2014

Flight Regulations: Seeing the Unseen

Writing yesterday at The American, Ike Brannon displays excellent “seeing the unseen” logic evaluating problems with a new state regulation. Following orders from legislation passed in 2010, the FAA recently began requiring pilots to have at least 1,500 hours of flight time before sitting in the cockpit of a commercial plane. Like with most regulations, […]

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QOTD: Lew Rockwell

Lew Rockwell writing in last Friday’s Mises Daily: We do not need “monetary policy” any more than we need a paintbrush policy, a baseball bat policy, or an automobile policy. We do not need a monopoly institution to create money for us. Money, like any good, is better produced on the market within the nexus of […]

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U.S. dollar: Safe, though not sound

The dollar’s viability as the world’s reserve currency is under no serious threat because it faces no competition. This is the thesis of Desmond Lachman’s new piece in The American. Channeling Paul Volcker, he writes: If the dollar is to lose its reserve status, as epitomized by the fact that more than 60 percent of […]

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Why poor?

Charles M. Blow penned a hard-hitting (and rather bitter) criticism today of what he calls a “part and parcel of conservative thinking”: that the poor are poor because they lack some basic value possessed in abundance by the wealthy. He writes: The roles of privilege, structural inequalities and discriminatory policies seem to have little weight, and the herculean […]

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QOTD: Doug Bandow

From Cato scholar Doug Bandow, writing in the Orange County Register: As applied, the insider-trading laws push in only one direction, punishing action. Yet a smart investor also knows when not to buy and sell. It is virtually impossible to punish someone for not acting, even if he or she did so in reliance on inside […]

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The logic of buying and selling vs. forced exchange

Jim Fedako makes some great points in a Mises Daily article last month about Elaine Photography v. Willock —  the recent case involving Elaine Huguenin’s refusal to photograph the commitment ceremony of a lesbian couple in Arizona. He writes, One implication of a positive right to service from a business is the derivative positive right to quality service. So, […]

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More on minimum wage

Yesterday I wrote about minimum wage. I cited what I consider a definitive condemnation of minimum wage as a means to actually raise wages for the working poor. Minimum wage’s true effect is to permanently disemploy everyone whose marginal revenue product is lower than the legal minimum wage. But I must admit that while the […]

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Romney is wrong on minimum wage

Not that anyone cares what Mitt Romney says anymore, but he came out in support of minimum wage on MSNBC’s “Morning Joe” this morning. His reasoning: “[The GOP] is all about more jobs and better pay.” That’s too bad, because minimum wage does anything create more jobs and better pay. In fact, it does just the […]

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These are America’s least valuable college degrees

I just came across an amusing-verging-on-horrifying list at The Atlantic (channeling PayScale) about the least valuable colleges and majors in the United States. Put simply, the chart below shows how much students pursuing these majors at these colleges can expect to have earned, on average, twenty years after graduating. Clearly, college is not always a great investment. […]

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Is American entrepreneurship dying?

The Brookings Institution reported on Monday that the American economy is less entrepreneurial than at any point in the last three decades. See chart below: The report continues: …recent research shows that dynamism is slowing down. Business churning and new firm formations have been on a persistent decline during the last few decades, and the pace of […]

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