AUSTRIAN ECONOMICS ADDICT

 The pen is mightier than the sword… (Photo credit: mbshane)

Equal Occupational Fatality Day Will Occur On December 20 2023, by Mark J. Perry, at aei-ideas.org. When it comes to work related deaths, a huge gender gap exists that needs to be addressed. Women earn only 7.7% of the fatalities on the job, compared to the 92.3% of the fatalities that men collect. Why aren’t women’s rights groups and opportunistic politicians screaming for equality in this area?

The Value Of A Taxi Medallion In NYC Has Increased 5X Faster Than The S&P 500, by Mark J. Perry, at aei-ideas.org. It’s simple supply and demand. When supply is restricted it makes a scarce resource artificially more scarce. The price has to go up in order to ration the scarce resource. Quote from the article, “In fact, there are fewer NYC taxi medallions today (13,605) than there were in 1937 (16,900) when the medallion system first created the NYC taxi cartel.” Ultimately the free market rides to the rescue of the consumer. Read this quote, “… the app-driven ridesharing genie is out of the bottle” and too many consumers in too many cities have “gotten a taste” of the convenience and affordability of ridesharing services like Uber and Lyft, and they’ll never want to go back to the traditional taxi cartel model….”

Former Obama Girl Finds The Light, by Chris Rossini, at economicpolicyjournal.com. I’ve found that many young people are starting to naturally move toward the libertarian ideology. This is good news because young people have more energy, are more tech savvy, and aren’t as risk averse compared to us older people. They will lead the way toward individual freedom and away from big government. Our job is to mentor them, not tell them what to do.

Is Paul Krugman The New Economic Adviser In Rahmaland? at economicpolicyjournal.com. Funny video about the economic benefits of not fixing potholes. It is a version of the broken window fallacy.

Consumer Spending “Recovery” Stalls As Pent Up Demand Fails To Appear, at  zerohedge.com. When will we learn that in an unhampered free market, spending {consumption} doesn’t create wealth, stimulate production, or make an economy grow. Spending {consumption} can only happen as a result of production. You can’t consume something that hasn’t been produced. In a hampered market counterfeiting money can bring about consumption before production. But ultimately counterfeiting destroys wealth, misallocates scarce resources into areas of production that can’t be sustained, and slows or shrinks economic growth.

The Game Is Up For Climate Change Believers, by Charles Moore, at telegraph.co.uk. People are starting to see through the man-made global warming hoax.

I saw these cartoons at theburningplatform.com.

This entry was posted on April 11, 2014 at 11:45 pm and is filed under Must Reads For The Week. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: Broken Window Fallacy, Climate Change Believers, Consumer Spending Stalls, Fatalities On The Job, Krugman Rahmaland Adviser, Man Made Globel Warming Hoax, NYC Taxi Cartel, Obama Girl, Rideshare Services Uber and Lyft, Taxi Medallion Value Increase, theburningplatform.com