I don’t do this often, but I have posted a transcript from a talk given in 2009 by Economist George Riesman of Pepperdine Universtity. It was so clear and concise that my notes only lead me having to write the speech out in it’s entirety. So rather than doing that, I thought it better to…
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…
As the coastal areas of the United States prepares for hurricane Isaac, I expect to read more stories claiming the ungodly practice of “price gouging”. That is, the practice of greedy businessmen taking advantage of people in times of crisis by raising prices on essentials as bottled water, food, gasoline, hotel rooms and so on.…
The Blue Collar Economist 