If you’ve ever seen a nature program on TV, undoubtedly you’ve seen how the secondary predators, like jackals, hyenas, and baboons bring down their prey differently than the larger predators, namely that one crushing death bite to the throat. Rather, they slowly wear down their prey until the whole pack is able to descend upon the poor creature…
Ever since the Housing Bubble of 2008 imploded, many Austrian economists, authors, and spokesmen have come out to announce that hyperinflation was just around the corner. The concerns of a hyperinflation scenario had much to do with the Federal Reserve’s policy of Quantitative Easing (QE). The Fed had exploded its balance sheet to unprecedented levels since the…
Over the years, economics has taken on many different roles than the intended scientific discipline of human action. The study of economics has been broken up into separate, and often competing “schools” of thought. Specifically, the understanding of what economics describes, how it is used to understand certain activity and how to apply economics in…
Recently, while on a short vacation, I was able to read Bruce Koerber’s book, “More Than Laissez-Faire”. After having communicated with Bruce on social media occasionally, I thought I’d finally go ahead and read about what he calls, “The Divine Economy.”
I recently critiqued Bernie Sanders’ welfare ideas in the article, “Bernie Sanders’ Welfare Trap”. In the spirit of being fair, this article will address the crazy notion that populist Republican Donald Trump came up with. Namely, a 25% tariff on Chinese produced goods. In this day and age, it’s remarkable how many people still do…
With the ever growing popularity of Senator Bernie Sanders on the Presidential campaign trail, I thought it would be high time to discuss the concept of the social safety net. Bernie Sanders touts, ad nauseam, the importance of the government to step in and help the poor in our society. Although it may seem altruistic…
In the previous installment of the Death by Taxes series, we learned about Beardsley Ruml’s contribution in establishing the withholding tax. This most influential of unknown people in American history deserves a closer look. He had some important things to say about why we pay federal income taxes that may surprise you.
The Blue Collar Economist 