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Economics

  • The False Promise of an ‘Ultramillionare’ Tax

    The False Promise of an ‘Ultramillionare’ Tax0

    Sen. Elizabeth Warren (D-MA) is running for president in 2020, and she has gained attention for proposing an “ultramillionare” tax: a 2 percent tax on households with a net worth over $50 million and an additional 1 percent on households worth over $1 billion. Warren’s proposal has more popular support than Rep. Ocasio-Cortez’s (D-NY) proposal

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  • How Venezuelans Can Recover from the Sickness of Socialism

    How Venezuelans Can Recover from the Sickness of Socialism0

    And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works – French economist and statesman Frédéric Bastiat, 1850. Venezuela’s socialist

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  • How ‘Woke’ Are You on World Poverty?

    How ‘Woke’ Are You on World Poverty?0

    By now you have probably heard the exhortation “stay woke.” To be woke means a person is “an informed, questioning, self-educating individual” who “look[s] past the provided narrative.” Yet, most among the self-proclaimed woke are still fast asleep. They may have a facile way of imparting narratives about issues, but those narratives are often based

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  • I’m the 0.0001%: My Confession

    I’m the 0.0001%: My Confession0

    Income inequality in the US celebrated its 50th birthday last year. Having declined steadily after World War II, 1968 began a 50-year winning streak. Few are cheering, though, because concentrations of wealth are dangerous. People controlling huge amounts of money can use their buying power to push us all around. Hence billionaires like Mark Zuckerberg,

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  • Why Does the Federal Government Fail So Miserably Most of the Time?

    Why Does the Federal Government Fail So Miserably Most of the Time?0

    6.5 M people with active social security numbers are 112 or older.   When I spotted this headline in the Washington Times, and misinterpreted it, my heart took a bounce.   First came astonishment and joy. With that many men and women living to be 112 or older, and surely many more living at least

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  • Cheesecake Factory’s Free Cheesecake Disaster Is a Lesson in Scarcity and Prices

    Cheesecake Factory’s Free Cheesecake Disaster Is a Lesson in Scarcity and Prices0

    It sounded like a great idea. To celebrate its 40th anniversary, in November Cheesecake Factory announced it was giving away 40,000 pieces of cheesecake to customers who used the DoorDash app to place orders. Giving away, as in free. What could possibly go wrong by giving away 40,000 slices of the most delicious cake on

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