3 Economic Fallacies That Just Won’t Die
by Luis Pablo de la Horra
Economics in One Lesson is a magnificent rebuttal of popular economic fallacies deeply embedded in the political discourse of his time. By means of a very accessible language aimed at the general public, Hazlitt discusses, dissects, and debunks 22 economic sophisms like the idea that technological advances destroy employment or the myth that price ceilings are beneficial for consumers. All fallacies examined in Economics in One Lesson are still present in today’s political debate. Yet there are some that are especially relevant for their implications on the long-term welfare of societies. Here are three of them.
by Luis Pablo de la Horra
Economics in One Lesson is a magnificent rebuttal of popular economic fallacies deeply embedded in the political discourse of his time. By means of a very accessible language aimed at the general public, Hazlitt discusses, dissects, and debunks 22 economic sophisms like the idea that technological advances destroy employment or the myth that price ceilings are beneficial for consumers. All fallacies examined in Economics in One Lesson are still present in today’s political debate. Yet there are some that are especially relevant for their implications on the long-term welfare of societies. Here are three of them.
HENRY HAZLITT DISCUSSED, DISSECTED, AND DEBUNKED 22 ECONOMIC SOPHISMS IN HIS CLASSIC WORK 'ECONOMICS IN ONE LESSON.'
Federal Spending: 5 Charts that Tell the Story
by Daniel J. Mitchell
And the most important thing to realize is that the only solution to our budget mess is genuine entitlement reform. Which is why we need constitutional (and comprehensive) limits on total outlays. Politicians will only do what’s right if every other option is off the table.
OUR FISCAL PROBLEMS START WITH ENTITLEMENTS AND END WITH ENTITLEMENTS
Can California Survive a Middle-Class Exodus?
by Daniel J. Mitchell
California residents pay a lot for lousy government. One of the reasons that California has awful tax policy is that interest groups have a stranglehold on the political system. And that leads to ever-higher levels of spending.
Federal Spending: 5 Charts that Tell the Story
by Daniel J. Mitchell
And the most important thing to realize is that the only solution to our budget mess is genuine entitlement reform. Which is why we need constitutional (and comprehensive) limits on total outlays. Politicians will only do what’s right if every other option is off the table.
OUR FISCAL PROBLEMS START WITH ENTITLEMENTS AND END WITH ENTITLEMENTS
Can California Survive a Middle-Class Exodus?
by Daniel J. Mitchell
California residents pay a lot for lousy government. One of the reasons that California has awful tax policy is that interest groups have a stranglehold on the political system. And that leads to ever-higher levels of spending.
ONE CONSEQUENCE OF CALIFORNIA’S ANTI-MARKET IDEOLOGY IS THAT POOR PEOPLE ARE FALLING FURTHER AND FURTHER BEHIND
Economics Was Invented to Refute Trump's Tariff Arguments
by Tom Mullen
When Adam Smith wrote Wealth of Nations, it wasn’t to refute the “godless socialists” 21st-century Republican voters believe are taking over the world. It was to refute the kinds of protectionist ideas championed by conservatives like Edmund Burke and Alexander Hamilton in Smith’s day, Abraham Lincoln eighty years later, and Trump today.
Economics Was Invented to Refute Trump's Tariff Arguments
by Tom Mullen
When Adam Smith wrote Wealth of Nations, it wasn’t to refute the “godless socialists” 21st-century Republican voters believe are taking over the world. It was to refute the kinds of protectionist ideas championed by conservatives like Edmund Burke and Alexander Hamilton in Smith’s day, Abraham Lincoln eighty years later, and Trump today.
WE'VE KNOWN TARIFFS ARE A BAD IDEA SINCE ADAM SMITH
4 Political Principles Libertarians Should Start Paying Attention To
by Robin Koerner
The public seems to be increasingly aware that the two main parties have more in common than either would be comfortable admitting, and their commonality is more responsible than anything they disagree about for the decline in the representation, prosperity, optimism, and unity of Americans.
4 Political Principles Libertarians Should Start Paying Attention To
by Robin Koerner
The public seems to be increasingly aware that the two main parties have more in common than either would be comfortable admitting, and their commonality is more responsible than anything they disagree about for the decline in the representation, prosperity, optimism, and unity of Americans.
DON'T JUST ARGUE FOR A BREAK FROM POLITICS AS USUAL; BE THAT BREAK
16 Choice Quotes from the Father of the Constitution
by Gary M. Galles
March 4th marks the anniversary of the beginning of government under the U.S. Constitution in 1789. It seldom gets any popular attention. But it certainly deserves some, especially in an era when we have moved so far from the very limited government the Constitution authorized (limits enhanced by the ratification of the Bill of Rights in 1791) with American citizens as the clear losers.
16 Choice Quotes from the Father of the Constitution
by Gary M. Galles
March 4th marks the anniversary of the beginning of government under the U.S. Constitution in 1789. It seldom gets any popular attention. But it certainly deserves some, especially in an era when we have moved so far from the very limited government the Constitution authorized (limits enhanced by the ratification of the Bill of Rights in 1791) with American citizens as the clear losers.
“EQUAL LAWS, PROTECTING EQUAL RIGHTS.”
Is Sweden Socialist? No, but ...
by Jon Henschen
The glory days for Sweden economically took place prior to the 1960s, when they had a free economy, low regulation and lots of wealth. Between 1870 and 1950, Sweden became one of the richest countries. But by the mid-1990s, the country had growing economic problems because it continued to redistribute wealth it wasn’t creating.
Is Sweden Socialist? No, but ...
by Jon Henschen
The glory days for Sweden economically took place prior to the 1960s, when they had a free economy, low regulation and lots of wealth. Between 1870 and 1950, Sweden became one of the richest countries. But by the mid-1990s, the country had growing economic problems because it continued to redistribute wealth it wasn’t creating.
THE COUNTRY IS IN FACT VERY PRO CAPITALISM, BUT DOES REDISTRIBUTION THROUGH TAXES
Why Passionate Educators Should Consider Leaving Academia
by Isaac M. Morehouse
Professors and teachers: The best way to increase the quality and engagement of students is to separate your instruction from accredited institutions. Don’t complain about low-quality students; they’re not there for you. They’re there for a piece of paper they think is a magic ticket to acceptance in the world and they suffer through your class as a cost.
Why Passionate Educators Should Consider Leaving Academia
by Isaac M. Morehouse
Professors and teachers: The best way to increase the quality and engagement of students is to separate your instruction from accredited institutions. Don’t complain about low-quality students; they’re not there for you. They’re there for a piece of paper they think is a magic ticket to acceptance in the world and they suffer through your class as a cost.
DON’T BE AFRAID. THERE IS A MASSIVE MARKET FOR KNOWLEDGE AND GOOD INSTRUCTION
What If Auto Garages Worked Like Public Schools?
by Isaac M. Morehouse
Imagine a world in which all kids were sent to auto mechanic school for the first few decades of life.
Some percentage of them, those destined for a future with cars and mechanical problems, would love it. It’d be a great fit for them. They’d spend their time focused on the skills they enjoy and that will bring them value in their careers as mechanics.
For most, it would be wasteful and annoying. They’d spend years and years being prodded into memorizing and repeating facts and tasks that they don’t care much for and that bear no resemblance to what they’ll do for a career.
What If Auto Garages Worked Like Public Schools?
by Isaac M. Morehouse
Imagine a world in which all kids were sent to auto mechanic school for the first few decades of life.
Some percentage of them, those destined for a future with cars and mechanical problems, would love it. It’d be a great fit for them. They’d spend their time focused on the skills they enjoy and that will bring them value in their careers as mechanics.
For most, it would be wasteful and annoying. They’d spend years and years being prodded into memorizing and repeating facts and tasks that they don’t care much for and that bear no resemblance to what they’ll do for a career.
WE DON'T FORCE KIDS TO GO TO MECHANIC SCHOOL, SO WHY DO WE FORCE THEM TO GO TO TEACHER SCHOOL?
Georgi Markov Refused to Be Silent About Communism and Paid With His Life
by Krassen Stanchev, Lawrence W. Reed
The Bulgarian novelist and playwright Georgi Markov was a Communist-era dissident best known outside Bulgaria for being assassinated with a ricin-poisoned device (believed to hidden at the tip of an umbrella). It happened in central London on September 7, 1978. He died four days later, age 49.
To many of us in Bulgaria, Markov is a hero. His closest friend, Dimitar Bochev, aptly stated that it was his “talent” as a writer that got him killed him. I’m proud to tell you why as part of this weekly series on FEE.org.
Georgi Markov Refused to Be Silent About Communism and Paid With His Life
by Krassen Stanchev, Lawrence W. Reed
The Bulgarian novelist and playwright Georgi Markov was a Communist-era dissident best known outside Bulgaria for being assassinated with a ricin-poisoned device (believed to hidden at the tip of an umbrella). It happened in central London on September 7, 1978. He died four days later, age 49.
To many of us in Bulgaria, Markov is a hero. His closest friend, Dimitar Bochev, aptly stated that it was his “talent” as a writer that got him killed him. I’m proud to tell you why as part of this weekly series on FEE.org.
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