Recently, the Barrett Jackson Auto Auction made automotive history by auctioning off the original George Barris “Batmobile” for an astounding $4.5 million. Not a world record but amazing nonetheless. The 1964 Aston Martin DB5 used in James Bond films sold in 2010 for $4.6 million. The value individuals place on such rare automobiles is merely…
Any scientist can tell you that all things physical are under a state of decay. Whether it’s as small as an atom or as large as a planet, all matter is in decay. What physicists referred to as entropy or the 2nd Law of Thermodynamics, is in all energy exchanges, if no energy enters or…
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…
Back in the 1960’s Economist and Historian, Murray N. Rothbard worked as a reviewer for the William Volker Fund, a conservative and libertarian organization that gave grants to academics for the furtherance of conservative and free market ideas. His job, primarily, was to read and review articles, periodicals and books on political science and economics.…
As we can all remember on that fatal day on June 28th of 2012, when Obamacare passed the Supreme Court on a 5 to 4 decision. The socialist left repeated the mantra ad nauseum, “Elections have consequences!” We remember hearing that same axiom previously when both Sotomayor and Kagan were confirmed. Even Lindsey Graham, the…
I have created an animated interview where Congressman Ron Paul explains how the economy really works…. Workers and Wages Workers and Wages Part 2 Workers and Wages Part 3 Workers and Wages Part 4 Workers and Wages Part 5 The dialouge was taken from a paper Ludwig von Mises published in 1958 called, “Wages,…
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…
The Blue Collar Economist 