Critical Diplomatic Events In Japan
- Category: Politicians
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Have you ever wonder, dear reader, what is sooooo terribly important that Primer Ministers or Presidents or the head politicians du-jour do regarding their relations with other people? Why is that their diplomatic schedule is always soooooo terribly full that they can't do anything else? Why is that only they can do whatever is that they "must" do and nobody else can do?
ABE
Well, wonder no longer (at least for…
Lesson #234 - Austrian Economics For Dummies - Capital - Part 2 of 2
- Category: Austrian Economics
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Factors of production
With these definitions and the previous lessons we can now fully determine the necessary elements that must be present for manufacturing to occur. They are:
- Physical or natural means (e.g. raw materials)
- Labour (human energy)
- Time (used in the manufacturing process)
Note: for simplicity's sake we are using the terms production and manufacturing interchangeably from now on unless otherwise stated.
The Structure of Production
Production does…
Lesson #234 - Austrian Economics For Dummies - Capital - Part 1 of 2
- Category: Austrian Economics
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Definition
If we are going to talk about something, it would be a good idea to define it first. Capital is one of those things that are very specific but very difficult to define and as such there is a large tendency to mis-define and re-define it. And so, we are not going to define it just yet. What we are going to do is to outline its origins which will…
Finally! A Religious Position About Copyright!
- Category: Intellectual Property
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Now, if only this position would have been taken from the Kamasutra, then it would have been interesting, alas it is not. In Turkey the top religious organization (the Religious Affairs Directorate) or Diyanet has arrived at the decision whether or not downloading copyrighted material is permissible (halal) or not. According to the latest ruling (fatwa), it is not. What a surprise…not!
If you understand Turkish you may read the…
The Cracked Arguments Against Tax Heavens - Part 2 of 2
- Category: Taxes
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RIGHT TO SECURE LIFE
Lastly, we have the argument that by preventing taxation, tax havens and rich people are preventing the "right of everyone else to secure the minimum necessary to sustain life." This is indeed a strange "right" which we have never heard of before. It isn't that we have the right to live but that we have the right to secure the sustainment of our life from other…
The Cracked Arguments Against Tax Heavens - Part 1 of 2
- Category: Taxes
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INTRODUCTION
Lately it would seem that a deluge of websites pretend to keep selling us old and tired inaccuracies ( Taxes And Myths) that use machinations, disinformation and propaganda ( The Sweet Spot Of Taxation and The Illogic Of Taxation Thievery At Its Best) to convert us into slaves ( Taxed To Death No Just Into Slavery) thus forcing us to take measures ( The Smell Of Freshly Laundered Money) to protect…
Greece Is The New Argentina
- Category: European Crisis
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As we approach the deadline at the end of February the Greece government is getting more and more desperate.
A LITTLE BIT OF HISTORY
Allow us to remind you what's going on. Greece's governments in modern history (i.e. post-WWII) were always communism-biased except for the ultra-right-period between 67-74 when Greece "enjoyed" their very own "Junta". During either period for one reason or another Greek governments spent, spent, spent and then…
Lesson #233 - Austrian Economics For Dummies - Human Labour - Part 2 of 2
- Category: Austrian Economics
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Labour Scarcity
Labour is the scarcest of all means of production because every single type of production requires labourers. Although there are other limitations on production such as raw materials, it is labour that determines how much of such materials are available for production. Labour scarcity depends on four factors:
The amount of energy spent by each labourer. The harder we work the more labour there is. But the amount…
Lesson #233 - Austrian Economics For Dummies - Human Labour - Part 1 of 2
- Category: Austrian Economics
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Today we are going to take a look at one critical element of production; labour. In order to do that, we first need a few definitions.
Definition and characteristics of Labour
Labour is simply the expenditure of energy that a person does in order to produce a good or service. This person may expend energy in many ways such as physical, biological, psychological or through mental abilities. Labour is simply…
