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The Broken Window Fallacy
Today, politicians and elites justify big government and the destruction of liberties with an argument that defies reason and common sense. Let us now take a look at the biggest fallacy in modern economic thought, once again perpetuated thanks to the flawed theory of John Maynard Keynes.
Is Government Panacea?
Panacea, so goes Greek mythology, was the goddess of healing. She had the power to cure all diseases and prolong life indefinitely with a potion she created. Anyone who had it would have the elixir of life and immortality. All ills would vanish forever. Today and ever since the Great Depression, economists have believed that [...]
Broke.
CNN: David Walker. August second is the alleged day of reckoning. It is on this day that we will all experience Armageddon if the debt ceiling is not raised. So they say. David Walker of CNN is correct: our Congress is an embarrassment. But his solution to raise the debt ceiling is not at all [...]
Turn Off the Lights
New York Times: Robert Semple Jr. Once again big government has unjustifiably attacked the free market. In 2007 under President George Bush, Congress passed legislation that banned all light bulbs not meeting its new efficiency standards. Congress has no such power to standardize the market, and the act was a complete violation of the Constitution. [...]
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