It is apparent that some who advocate for the Austrian School of Economic Theory haven’t quite grasped the basics tenants of Austrianism. One of the basic tenants is the Mengarian theory of subjective value. One of those advocates is none other than Peter Schiff.
Main stream economics teaches that deflation is a bad thing, while inflation is beneficial if held to a certain level. How this arbitrary level is ascertained is known only by those who believe in their macroeconomic models. Just what is inflation and deflation? Inflation Truths In recent history the term “inflation” has taken on new…
When we were in chemistry class, we were told to be careful when mixing certain chemicals together. Most chemicals were inert and safe on their own, but when mixed with another chemical, a dangerous reaction could occur which could yield toxic or even deadly results. A similar toxic reaction can be realized in the…
The July/August issue of the Freeman Magazine, interviewed Oliver Porter, the creator and implementer of the public-private partnership model in Sandy Springs, Georgia titled, “The Man Who Outsourced the Government“. Are Public-Private Partnerships Crony? Public-private partnerships are, as the interview describes, when government contracts all of it’s basic services to private industry other…
Recently, the Fiscal Times released a story titled “What the Hell Happened to Jon Corzine?” The article goes on to explain that the Commodity Futures Trading Commission had filed civil charges against Corzine for his ties to the collapsed trading firm, MF Global. The charges describe that Corzine was responsible for the misuse of client’s money, to…
Having family in tornado stricken Oklahoma is an uneasy trial this time of year. With the recent Shawnee and Moore, OK tornadoes reminded us in Georgia how precious our family relationships really are. Both my wife and I have had first hand experience with tornadoes and their lasting devastation. As the media reports on the…
There has never been in the history of this country a time when Americans were dropping dead due to starvation. The only exception would be the Jamestown colony of 1607. Those that advocate for a socialist solution for the condition of hunger need only to look back through history at this country’s first attempt at…
The Blue Collar Economist 