Month: June 2020

Inflation

Consider a simple economy. It has two people,  A and B. And there’s the government (or state) G. Person A’s net worth is $100 in cash, and person B’s net worth is $0. This economy run on fiat money. Meaning,… Read More ›

Taxes

The earliest known instance of taxation dates back 5,000 years in Egypt. I suppose the pharaohs needed it to finance those pyramids. Before that, death was the only thing that was certain; after that, taxes became as certain as death…. Read More ›

Black Lies Matter

The US is going through some harrowing times. The movement called “Black Lives Matter” is doing what it set out to do: sow social discord. The lies they tell — about institutionalized racism — are easy to believe. Good thing… Read More ›

Only Organized Violence Please

People condemn disorganized violence but are filled with pride and honor if violence is organized at the national level and projected internationally. That’s funny. Here’s Armen Alchian (1914-2013) in his book college economics textbook Exchange and Production: Before condemning violence… Read More ›