Donations
Please consider donating to help keep this blog running.
- Economic Thought on Facebook
Tag Archives: Wealth
Economic Growth and the State
While government growth correlates with economic growth, the fact is that economic growth may make the government less and less relevant. Continue reading
Thank Goodness for Capitalism
It’s only because of capitalism that some of us enjoy not having to think about how we’re going to put bread on the table. Continue reading
The Tragedy of Spanish Government
The history of Spain is one beset by human tragedy. At first glance, the economic heritage of Spain seems cyclical, with periods of wealth and power followed by long epochs of poverty. Upon closer inspection, however, it becomes evident that even the years of wealth were at best illusionary. Continue reading
The Anatomy of Deflation
George Reisman explains “good deflation”, the virtues of a stable supply of money and what occurs with increases in productivity. This explanation, thoroughly “Austrian”, goes against conventional economic “wisdom”. Continue reading
Posted in Theory
Tagged Capital, Capitalism, deflation, efficiency, monetary, money, productivity, Reisman, stability, volume, Wealth
4 Comments
Haiti: Two Hundred Tragic Years
Haiti, in the long-term, needs a government which supports the free-market, property rights and entrepreneurship. In other words, Haiti needs to move towards liberty and laissez-faire, otherwise it will remain susceptible to continued tragedies. Continue reading
Posted in Current Events
Tagged earthquake, entrepreneuship, free, Government, Haiti, Investment, market, prosperity, tyranny, Wealth
4 Comments
The Adam Smith Myth
Murray N. Rothbard shatters the myth that Adam Smith was the founder of the modern science of economic thought. Instead, he shows how Smith heavily borrowed from past economists without citing them or giving them credit. Continue reading
The Burden of Wealth Tax
Duncan Russell on the negative side-effects of the wealth tax; the introduction of which is threatening an estimated 2.2 million Germans who may not be able to afford this new form of theft. Continue reading
The Broken Window
Bastiat’s metaphor for explaining how destroying wealth to stimulate production of the same exact wealth does not stimulate economic growth. It is the basic metaphor for all arguments against state expenditures, and used heavily by economist Henry Hazlitt in his book “Economics in One Lesson”. Continue reading
Posted in Theory
Tagged Bastiat, broken, Capital, consumption, fallacy, Frédéric, Government, spending, waste, Wealth, window
Leave a comment
Out of Work: Lessons for Europe
The world is facing spiraling unemployment: especially Europe and the United States. According to the Economist, unemployment in the United Kingdom rose to 7.6% up to May 2009. Spain’s labor force is facing 17.4% unemployment. The Ecounemployment in eu and usnomist suggests that those unemployed are shifting the blame to foreign workers, who are willing to work for lower wages (and may have more experience), but then says that a more realistic scenario is that the increase in unemployment is due to an increase in the minimum wage. Continue reading
Posted in Theory
Tagged Bubble, Credit, Depression, Economics, europe, Government, nominal, poverty, real, Unemployment, wages, Wealth
3 Comments
European Wealth
Comparisons between Europe and the United States are difficult to make, because different European countries have different standards of livings, different purchasing powers, et cetera. These comparisons are nearly useless. Continue reading →