We often here the term “market failure” or “a failure in the market” when an adversity strikes the economy. It is used to decry how markets can’t actually function on their own without the government stepping in and doing something to “fix” the problem or regulate a specific sector. The term is used so often…
In an earlier article, “Economic Ignorance“, we discussed the importance of profits and the incentives to gain those profits. At the end of the article I eluded to the failure of socialism. This article will go into some depth of why socialism is a failure. Flesh and Blood We must first begin with the understanding…
There are times when a thought just won’t leave your mind. I try to blog on issues that are relevant. Some issues are current and others have happened in the past. In this article I would like to set things straight about the federal government’s position on eminent domain. The nagging thought entered my mind…
The Blue Collar Economist 