The Usual Suspects
- Category: Government Debt
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Today we are going to examine a curious phenomenon. Over the last 10 or so years we have seen a systematic highlighting and denigration (some would go as far as to call it persecution) of nations to determine their own taxation policies. Furthermore, in this area we have seen overwhelming pressure (some refer to it as blackmail) to destroy the sovereign decisions of countries.
One by one the dominos have…
Lost Memories - Part 2 of 2
- Category: Socialism
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THE POLITICAL WORLD IS FLAT
And if you continue this course, you will fall off its edge. This is pretty much the lesson that is burned into children’s brains through their basic educational years. Socialism is a flat world and going in any other direction too far away means falling off the cliff. This way of thinking is totally, completely and utterly irrational yet it is accepted as true by…
Lost Memories - Part 1 of 2
- Category: Socialism
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There is a question that we are asked consistently and we thought that it would be a good idea to answer it publicly and for the record. The question is very simple: Why is it so hard to convince people that socialism (and by extension any kind of government) is not the answer?
In the past we tackled this answer mostly from an economic point of view in the article…
The Trillion USD/Year Waste Machine
- Category: Bureaucracy
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You take care of your hard earned money. You would never purposely throw away money. You work, you save and then… you are robbed. Your government taxes you. And what does your government do with your tax money (in addition to borrow and print)? They waste a gigantic amount of it. They throw it away.
BUREAUCRACY-R-US
Monumental, almost indescribable amounts of money are wasted in bureaucracy that generates nothing. It only…
Should Scotland Be An Independent Country?
- Category: Politics
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This is the question that will be submitted to Scottish people on 18 September 2014. Typical analysis for such a questions are quite complex and if you would like to have a handy overview of them, feel free to search Wikipediafor “Scottish independence referendum, 2014”. We are most definitively not interested in standard ways of thinking. What we are interested in is political evolution. As we have stated in our…
Lesson #221 - Austrian Economics For Dummies - Methodology - Part 2 of 2
- Category: Austrian Economics
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Internal consistency
As a direct result of using a deductive method, what Praxeology achieves is to be internally consistent. This is indeed very hard to achieve. This is one of the holy grails of normal sciences.
Internal consistency means that you can reach any conclusion in a science using axioms and logic and vice versa; that you can arrive at axioms starting with any conclusion. If any of these paths…
Lesson #221 - Austrian Economics For Dummies - Methodology - Part 1 of 2
- Category: Austrian Economics
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When we defined Praxeology we said that it is the science that studies the rules governing the purposeful behaviour of humans. What we need to define now is precisely how Praxeology studies those rules (Laws of Action). In other words, what method does it use.
Praxeological axioms
Before we even begin to describe the method, we need to describe the most basic beliefs that Praxeology is based on. As we…
Black Markets And The Cynicism Of Governments
- Category: Free Market
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Black markets are the most pure examples and expressions of free markets. They provide any and all manner of goods and services that the "formal", "regulated" and "managed" markets cannot provide or do so at artificially inflated (and hence unreachable) prices. Yet, for some "strange" reason governments insist in squashing black markets. The latest attempt was exposed by the newspaper Egypt Independentin its article "Reforming Egypt's black market - high…
The Default Shall Be Televised
- Category: Economic Conditions
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Gooooooood Mornin' Bueeeeenos Aaaairessss! Today is a good day to default or do you want to be solvent forever!? As we have stated many times, Argentina indeed represents the economic future of all countries on earth. A few days back a new cycle of default started and you have a front row seat to the upcoming debacle. This is going to be good. Think of it as a cross between…
