The Significance of Botched Industrial Revolutions
Category: Economics
The Supreme Court’s 150‐year Mistake
Though the Supreme Court has come a long way in protecting equality before the law, it still refuses to protect the right to earn a living
https://www.cato.org/blog/supreme-courts-150-year-mistake#readmore
One Good Outcome of the Great Depression
…the Great Depression greatly depressed incomes and, hence, income-tax revenues. Between 1930 and 1933, these revenues fell by nearly 70 percent.
Republicans’ and Democrats’ Refusal To Reform Social Security and Medicare Is Political Malpractice
In 10 years, the programs’ funds will be insolvent. Over the next 30 years, they will run a $116 trillion shortfall.
Societies which have more people carrying out physical acts and fewer people supplying ideas do not have higher standards of living. Quite the contrary.
America Needs a Better Kind of Capitalism
Big corporations and entire industries constantly use their connections in Congress to get favors, no matter which party is in power.
From sugar and steel consumers to students who already paid off their loans or used their savings to pay for their education, political capitalism punishes those who aren’t elite or can’t organize to extract favors from politicians. Sadly, it gives a bad name to both politics and capitalism.
https://reason.com/2023/03/09/american-capitalism-is-crony-at-its-core/
Diversion from the Dole: An Alternative to Traditional Welfare (Part I)
There is solid evidence diversion programs are a win‐win opportunity, reducing welfare participation and expenditures while helping recipients. Yet, even in those states with diversion programs on the books, those options are rarely utilized. This is a lost opportunity.
https://www.cato.org/blog/diversion-dole-alternative-traditional-welfare-part-i
Man Is an Animal Who Says “I”, and Trades
On the market, which is a paradigm of voluntary cooperation, each individual serves the interests of others by pursuing his own. Economics helps understand this lesson.
How a Public Housing Project Became an Unplanned Neighborhood
A favela in southern Brazil shows the upside of an “invasive” urban form—and offers lessons for U.S. housing policy.
Monte Cristo shows how this can flower into something more open and affordable: by avoiding excessive rules in the first place.
https://reason.com/2023/02/19/how-a-public-housing-project-became-an-unplanned-neighborhood/
Socialism in Theory and Practice
…every socialist experiment is a bright new dawn in the beginning and then a “that’s not real socialism!” hellscape a few years later. Russia, China, Cuba, Zimbabwe, Nicaragua — all hailed by socialists in the beginning, then ignored or dismissed once the results became visible.