Must Reads For The Week 1/4/14

Posted January 4, 2014 by austrianaddict
Categories: Must Reads For The Week
Tags: , , , , , , ,
The pen is mightier than the sword...

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

Frozen Out: 98% Of Stories Ignore That Ice Bound Ship Was On Global Warming Mission, by Mike Ciandella, at newsbusters.org. It’s a good thing they went during the middle of the Antarctic summer. Here is the expeditions aim. It’s not surprising that 98% of the media’s stories don’t give all the facts. They shape the news by omitting facts that don’t fit their vision of the world.

Warning: 60- and 40- Watt Incandescent Light Bulb Production Ends January 1st, at economicpolicyjournal.com. Government mandates that we must use compact fluorescent light (CFL) bulbs. When they made this decision did they ask if the CFLs were safer than incandescent bulbs? No, this was a decision made to benefit crony capitalists?

How Far Could Travel Across The U.S. In One Day, From 1800 To Present, at economicpolicyjournal.com. Evil capitalists who produced saddles, wagons, trains, cars, trucks, buses, and planes have profited at our expense. Thank goodness these people are always looking for better ways of doing things, in spite of the road blocks government places in front of them.

100 Years Ago: Why Bankers Created The Fed, by Christopher Westley, at mises.org. Excerpt from the article, “…the Federal Reserve….was the implicit socialization of the banking industry in the United States.”  Just like Obamacare is the socialization of the healthcare industry.

Life In The Emerging American Police State: What’s In store For Our Freedoms In 2014? by John Whitehead, at economicpolicyjournal.com. You probably break a law everyday and you don’t know it, and that’s the problem. We can’t be under  the rule of law if people don’t know what the laws are, and the law makers don’t have to abide by them.

Who’d a-thunk it? A Cartel Doesn’t Like Competition, by Mark J. Perry, at aei-ideas.org. Regular taxi drivers in France don’t like a level playing field, they want it tilted in their direction. This is like having Usain Bolt start ten meters behind the rest of the competitors in the 100 meter dash, just to make it fair.

New York City Mayor Not Horsing Around, by Robert P. Murphy, at consultingbyrpm.com. The new mayor wants to ban horse-drawn carriages. He said,“We are going to get rid of horse carriages, period,” de Blasio said at a news conference Monday, saying that the practice is inhumane. I have two comments 1) is it inhumane for the police to ride horses, 2) they’re horses not humans.

Tea Party Leader Ted Stevenot To Run In Republican Primary Against Incumbent Governor Kasich, at ohiolibertycoalition.org. It’s Ted versus The Turncoat. The Ohio Healthcare Freedom Amendment passed with 66% of the vote, which means Governor Kasich ruled against the majority when he pushed Obamacare through the backdoor.

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Must Reads For The Week 12/28/13

Posted December 28, 2013 by austrianaddict
Categories: Must Reads For The Week
Tags: , , , , , , , , , ,
The pen is mightier than the sword...

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

Two Years After She Passed Away, A Woman Gives Her Family An Unforgettable Christmas, at buzzfeed.com. I saw this on Libertarian Girl’s Facebook page. Thanks Marianne for finding this. Watch this video after you have read or viewed the other articles or videos below, trust me.

The Top Ten Most Ridiculous Law Suits Of 2013, at economicpolicyjournal.com. What kind of people think like this? I’m glad I don’t know.

China Will Require Journalists To Pass A “Marxism Test”, at economicpolicyjournal.com. If the journalists in China need Marxist indoctrination, they should go the journalism schools in America.

Minimum Wage Increase Blowback: Hamburger Ordering Automation, at economicpolicyjournal.com. When the cost of labor is greater than what that labor produces, businesses will find a more cost-effective way of producing that good or service or they will go out of business. It’s simple supply and demand. People demand less at a higher price whether it’s the consumers demand for ice cream, or the employers demand for labor. Read; Minimum Wages Laws Create Unemployment.

Hayek On Why Obamacare Won’t Work, by Mark J. Perry, at aei-ideas.org. The knowledge needed to make the healthcare system work resides in each individual’s decisions concerning healthcare.This knowledge can’t possibly be known by Government bureaucrats.

French Pub Fined For Using Undeclared Labor After Customers Return Glasses To Bar, by Steve Robson, at mirror.co.uk. I saw this at aei-ideas.org. The owners are going to avoid criminal charges but have to pay a fine of 7,500 euro. This is similar to the mafia’s protection racket. This can’t happen here! It’s already here, read this post from last week.

Tammy Bruce on Fox Discussing Phil Robertson’s (Duck Dynasty) Comments, at tammybruce.com. Tammy Bruce’s book, The Death of Right and Wrong, is a great read.

Test Answers That Are 100% Wrong But Totally Genius, by Jake Heppner, at distractify.com. I found this at kids prefer cheese. Numbers 2, 3, 6, 11, 13, 16, 18, 19, 23, and 37 show real creativity.

Obama IRS Tightening Noose On Tea Party Groups, by William Bigelow, at breitbart.com. I found this at kids prefer cheese. Who’s surprised at this?

Spot The Odd One Out, at zerohedge.com. Do these charts show that there is a financial bubble? The Feds counterfeit money is being used to purchase Government securities, which are first laundered through Wall Street and purchased from banks. The money is also used to purchase mortgage backed securities from banks. The counterfeit money the banks receive in exchange for these securities is pumping up the financial bubble.

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You Can Educate Ignorance; But What About Stupidity?

Posted December 27, 2013 by austrianaddict
Categories: Government and Politics
Tags: , , , , , , ,
Stupidity is contagious

Stupidity is contagious (Photo credit: AJC1)

BANNING E- CIGARETTES

Here are two examples of bureaucrats who can’t tell their rear ends from a hole in the ground. The first is about E cigarettes..  Vaping Given Politicians the Vapors, by Jacob Sullum, at reason.com. Seemingly intelligent people think that a product that allows people to get their nicotine fix through water vapor, instead of burning tobacco, should be banned. The nicotine in a cigarette isn’t what causes cancer, it’s the carcinogens caused by the burning tobacco that leads to cancer. It would seem to me that people who don’t like smoking would want all cigarette smokers to use the E cigarette because it is a safer delivery system.  Here are some excerpts from the article.

City Council
Speaker Christine Quinn
said last week. “Because many of the e-cigarettes are designed
to look like cigarettes and be used just like them, they can lead
to confusion or confrontation.”

“You might think that people of ordinary intelligence would
pretty quickly learn to distinguish a burning stick of dried
vegetable matter from an e-cigarette, which contains no tobacco and
produces no smoke.”

“Anyone who is truly concerned
about the health consequences of smoking should welcome this
innovation instead of following New York’s example by making it
less appealing through gratuitous restrictions that discourage
smokers from quitting.”

BURNING WOOD IN FIREPLACES BANNED

In this article,San Francisco Bans Fireplace Use On Christmas, Kristin Tate, at benswann.co, bureaucrats who have power feel they have to make rules no matter how insignificant their decisions are. Do you think the yearly wild fires in California pump exponentially more “pollution” into the air than the people of San Francisco could possibly produce by burning wood in their fire places on Christmas eve and Christmas day? Here are some excerpts from the article.

Bay Area Air District executive officer Jack Broadbent said, “Please respect everyone’s health this holiday by observing the Winter Spare the Air Alert and not burning wood in your fireplace. We don’t want anyone to spend their holiday in the emergency room because they are unable to breathe. In the spirit of giving, please give the gift of clean air.”  This can’t possibly be true, can it?  It sounds like it’s from “The Onion“.

I guess people with power will wield it even if their decisions make no sense.

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Must Reads For The Week 12/21/13

Posted December 21, 2013 by austrianaddict
Categories: Must Reads For The Week
Tags: , , , , , , , , ,
The pen is mightier than the sword...

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

Important South Africa And Ending Apartheid: The Free Market Road Not Taken, by Richard Ebeling, at economicpolicyjournal.com.

Will The DHS Now Put Keynesians On It’s Watch List, at economicpolicyjournal.com. Colorado high school shooter is a rabid Keynesian. Will the DHS start profiling keynesians like they profile people on the right?

Undercover Stings Used To Fight Domestic Terrorism, by Roxana Hegeman, at abcnews.go.com. These kinds of operations are dangerously close to entrapment, and this particular one definitely looks like entrapment. Read the article and decide for yourself.

David Stockman: Obamacare Is A Doomsday Machine, at economicpolicyjournal.com. As the roll out continues, more and more businesses will get rid of employer insurance and will pay the fine/tax because it will be cheaper.

The Fed, The Taper & What Happens “When The Kidnapper Wears Prada”, at zerohedge.com. The banks and wall street are addicted to the heroin that is QE counterfeit money. They will do everything in their power to get their next fix.

When I Grow Up, I Want To Be A Crony, by Mark J. Perry, at aei-ideas.org. Great video of kids talking about crony capitalism.

Amazingly This Woman Taught Economics At The University Level, at economicpolicyjournal.com. You won’t be able to get through 3 minutes of this video. The title of the post is wrong, it isn’t amazing, it’s perfectly believable. These are the pied pipers leading the ignorant.

The Federal Reserve’s Century Of Failure, by Bruce Walker, at americanthinker.com. The Federal Reserve system and Obamacare “Both represent wholly misplaced attempts to replace the incremental influence of market forces with central planning by a national government.“

The Obamacare Generation, Young People Have Been Had, by Victor Davis Hanson, at victorhanson.com. When will they wake up and see that they are being played?

Is This The Closest A Wingsuit Pilot Has Ever Flown To The Ground, youtube video. This is amazing.

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Walter E. Williams: The Pope And Capitalism

Posted December 19, 2013 by austrianaddict
Categories: Econ. 101
Tags: , , , , ,

Walter E. Williams shows his usual brilliance in this article titled, The Pope And Capitalism. The pope is trying to solve economic problems through his vision of justice. Unfortunately the laws of economics don’t obey the pleas for “justice” or “fairness” however they may be defined. Here are a few excerpts from the article.

“First, I acknowledge that capitalism fails miserably when compared with heaven or a utopia. Any earthly system is going to come up short in such a comparison. However, mankind must make choices among alternative economic systems that actually exist on earth. For the common man, capitalism is superior to any system yet devised to deal with his everyday needs and desires.”

The usual tactic that people, who are against capitalism, use to argue against it is to set up the straw man of a utopian economic system and argue that capitalism doesn’t meet the utopian standard. They seem to think that if we just got rid of free market capitalism this utopian world would magically come into existence.

“There are literally thousands of examples of how mankind’s life has been made better by those in the pursuit of profits. Here’s my question to you: Are people who, by their actions, created unprecedented convenience, longer life expectancy and a more pleasant life for the ordinary person — and became wealthy in the process — deserving of all the scorn and ridicule heaped upon them by intellectuals, politicians and now the pope?”

Think about everything you purchase and consume, and ask yourself this question: Would I be able to produce all of these things with the scarce time and knowledge I have? The answer is no. You pay people for their knowledge and their ability to produce what you can’t produce. If we didn’t have specialization and exchange we would be living in a primitive society.

“Profits force entrepreneurs to find ways to please people in the most efficient ways or go out of business. Of course, they can mess up and stay in business if they can get government to bail them out or give them protection against competition.”

The problem we run into is most people think our present economic system is a free market system, and it is not. We have a crony capitalist system where  Government has granted itself the power to intervene in the economy through regulation, taxes, and subsidies. The only reason businesses spend time lobbying Government is because Government has the power to make rules about their business. There would be no reason to lobby the Government for favors if the Government didn’t have the power to grant these favors.

“Arthur C. Brooks, president at the American Enterprise Institute and author of “Who Really Cares,” shows that Americans are the most generous people on the face of the earth. In fact, if you look for generosity around the world, you find virtually all of it in countries that are closer to the free market end of the economic spectrum than they are to the socialist or communist end. Seeing as Pope Francis sees charity as a key part of godliness, he ought to stop demonizing capitalism.”

Understanding how free markets really work takes much deeper analysis than the shallow thinking enjoyed by utopian central planners, Marxists, and even well meaning Christians. If you read Walter E. Williams articles you will have a better understanding of economics than a vast majority of our politicians, teachers, journalists and yes even the Pope.

Related Article – Pope Says He Is Not A Marxist, But Defends Criticism Of Capitalism, by Lizzy Davies, at thegardian.com.

Related Article – Trickle Down And Tax Cuts, by Walter E. Williams, at creators.com.

Related Article – The “Trickle Down” Economics Straw Man, by Thomas Sowell, at capitalismmagazine.com

Related Article – Trickle Down Theory and Tax Cuts For The Rich, by Thomas Sowell, Hoover Institute Press. This is heavy lifting on the subject, but well worth the time.

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“I’m From The Government And I’m Here To Help.”

Posted December 16, 2013 by austrianaddict
Categories: Government and Politics
Tags: , , , , ,

We’ve been told that Government workers and bureaucrats are public servants. The stories below show that these public servants aren’t really interested in helping us, there more interested in helping themselves. Government regulations and licensing laws should be done away with because they set up road blocks for individuals to freely exchange on the market. It creates a hampered market. These laws are set up to increase Government power over the individual. What do these laws actually do? Here is a short list,  1) They raise money to fund the bureaucracy through fees and fines. 2) They protect the incumbent businesses from competition. 3) They allow bureaucrats to wield power over the masses.  These interventions in cities and towns across the country is a miniature version of the crony capitalism that happens on a larger scale at the federal level.

BEGGING IS PROTECTED, SELLING IS ILLEGAL

Watch this video below of an 11-year-old girl who was trying to sell mistletoe to help raise money for her braces. The authorities told her she could beg for money but not sell her mistletoe for money. Read article here.

GOVERNMENT IS AN UNWANTED BUSINESS PARTNER

In this video the cops shut down the lemonade stand of 3 girls trying to raise money to go to the water park. They are supposed to have a business license, along with food and vendors permits to operate a lemonade stand. These permits and licenses would cost these girls $50 dollars a day plus $180 dollars a year. How much lemonade do you have to sell in a day just to cover the cost of complying with the bureaucratic rules. These girls didn’t know that they had a not so silent business partner.

 IT’S LIKE A MAFIA PROTECTION RACKET

This creative entrepreneur finally closes the doors on her viable business. Why?  Because the harassment by Chicago bureaucrats was too high a cost to pay for the “privilege” of doing business in Chicago. I don’t think the bureaucrats understand the private sector is what funds their ability to do stupid things, like harassing businesses to the point that they close their doors. Paying bribes to bureaucrats is a consequence of too much regulation. In third world countries paying bribes is considered a cost of doing business. I saw This story at Mark J. Perry’s Carpe Diem Blog.

How the young kids in these videos will be affect by their run in with Government will not be known for many years. They will see Government as an instrument of force used to take their individual liberty away. The question is, will they fight for their individual liberty, or will they go along with Government intrusion just to get along. Actually that is the choice we all have to make. Either stand up and be counted or stay seated and don’t make waves.

In this Related Article by Walter Block, How the Market Creates Jobs, And The Government Destroys Them, he talks about licensing laws and how they affect employment. Here is an excerpt. “When the government bestows legal status on a profession and passes a law against competitors, it creates unemployment. For example, who lobbies for the laws which prevent just anyone from giving a haircut? The haircutting industry—not to protect the consumer from bad haircuts, but to protect themselves against competition.”

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Must Reads For The Week 12/14/13

Posted December 14, 2013 by austrianaddict
Categories: Must Reads For The Week
Tags: , , , , , , ,
The pen is mightier than the sword...

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

The 10 Worst Economic Predictions Ever, at zerohedge.com. Here’s the only prediction that is always true. Government interventions in the market do not produce as optimal an outcome for the most people than there would be if the market had been left unhampered.

David Stockman, “Valuation Has Lost Any Anchor To The Real World”, zerohedge.com. Short video of Stockman talking about what is stated about above, which is the Feds intervention into the market by electronically printing counterfeit money.

It’s Time To End America’s Century Of Central Bank Mismanagement, by Richard Ebeling, at economicpolicyjournal.com. I couldn’t agree more. For some heavy lifting read the full article here.

South Carolina Could Lead The Nation By Nullifying Obamacare, by Joshua Cook, at benswann.com. Getting rid of Obamacare can only happen from the bottom up, because the top down politicians are for it because it gives them more power over us.

Santelli & Stockman Blast “Festering Fiscal” Budget Deal “Betrayal”, at zerohedge.com. Short video telling the truth about the deficit deal. Politics comes first, addressing real problems isn’t a high priority.

A Public Safety Disaster: Obamacare Could Thousands Of Volunteer Fire Departments To Close, by David Martosko of the Daily Mail, at foxnews.com. Unintended consequences of trying to centrally plan something while there is still a free market in place.

David and Steph Teeterboard Training. How many injuries do you have to go through in order to get good at this?

Chicago vs. Houston In Four Charts, at zerohedge.com. Is there a correlation or causation related to these charts.

Major League Baseball Looks To Outlaw Collisions At Home Plate,by Ronald Bloom, at mdjonlin.com. Did MLB learn from watching the NFL deal with the concussion issue that they have to get out in front of this potential issue. Or do we just live in a low T society?

This cartoon is from theburningplatform, see more here.

141391 600 The gift cartoons

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The Republican Leadership Doesn’t Like Us.

Posted December 12, 2013 by austrianaddict
Categories: Government and Politics
Tags: , , , , , ,
budget

budget (Photo credit: 401(K) 2013)

If you think Democrats and the Republican Leadership are on different sides of the aisle, think again. Both are upset with liberty minded groups because these groups are fighting the growth of Government. Both parties want to expand the size of Government which brings with it a corresponding increase of power. This expansion means the individual will have less freedom. When Government grows the individual shrinks. Here is a video of John Boehner getting upset at the very group of people who have helped keep his rear end in power.

Speaker Boehner said, “If you’re for more deficit reduction you are for this agreement.”

How serious are they at deficit reduction if all they can cut is $23 billion in ten years, with most of the cuts coming in the outer years of the budget (which never happens). The Government spends roughly $3.5 trillion a year. So they can only find $23 billion to cut out of the $35 trillion they will spend in ten years (and that’s if spending remains at $3.5 trillion a year). That’s $23, 000,000,000.00 out of $35,000,000,000,000.00,  or 23 dollars out of every 35,000 dollars, or 2 dollars and 30 cents out of every 3 thousand 5 hundred dollars, or 23 cents out of every 3 hundred 50 dollars, or 2.3 cents out of every 35 dollars. Two pennies out of every thirty-five dollars! Are you kidding me? You wouldn’t even waste the time picking up two pennies if they fell out of your pocket. I guess it all depends on what the meaning of the word “more” is, if this is “more” deficit reduction.

The republicans are not serious about reducing Government, they’re only interested in stopping a potential Government shutdown from happening when the present continuing resolution expires. They think a shutdown will hurt their electoral chances in 2014. Both parties battle each other politically in order to gain control of Government power. The minority party has some limited power in order to be a counter weight against the majority party, but remember, both have power over you. Both parties have power to force you to do things you may not want to do. Every individual and group of individuals who work to roll back the power of Government, are an enemy of not just the democrat party, but also the republican party establishment. This is why both parties are trying to attack the credibility of liberty minded groups, tea party groups, small L libertarians, and any politician who is backed by these groups. But don’t be afraid of their attacks. They attack us because they fear us, and they fear us because they don’t control us. If people like us washed our hands of the republican party, they could never regain the majority position.

Related Article – Let’s Think About The Shutdown, The Debt Ceiling And Obamacare, at austrianaddict.com.

Related Article – Ted Cruz Is A Thorn In The Side Of Big Government Democrats And Republicans, at austrianaddict.com.

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Would You Let Your Child Act Like This?

Posted December 11, 2013 by austrianaddict
Categories: Miscellaneous
Tags: , , , ,

This is a picture of the President taking a “selfie” at the Nelson Mandela memorial. I have a few questions.

If your child was acting like this, would you tolerate it?

Would you be upset if this was your spouse?

The President of the United States doesn’t do things like this, does he?

Does it seem like we’re watching a reality show?

Definition of Narcissism –

1) “inordinate fascination with oneself; excessive self-love; vanity. Synonyms: self-centeredness, smugness, egocentrism.”
2) “Psychoanalysis . erotic gratification derived from admiration of one’s own physical or mental attributes, being a normal condition at the infantile level of personality development.”

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Writing Posts Has Become A Marginal Activity

Posted December 9, 2013 by austrianaddict
Categories: Econ. 201, Miscellaneous
Tags: , , , , , ,
Law of Diminishing Marginal Utility

Law of Diminishing Marginal Utility (Photo credit: Wikipedia)

LABOR vs. LEISURE

I haven’t written as many posts the last two months as I have the previous months. The simple reason is I haven’t put as much time into writing as I had before. After rereading a section titled “Factors of Production: Labor Versus Leisure”, in Murray Rothbards tome “Man Economy and State”, I figured out that the law of Marginal Utility was why I wasn’t putting as much time into writing. After some deeper analysis I came to the conclusion that either the law of Marginal Utility explains it or my situation explains the law of Marginal Utility. Let’s try to explain Marginal Utility by analyzing why I haven’t been posting more articles.

THE MARGINAL UNIT

Prior to 2008 I had always spent an hour or two a day reading. I read books about economics, history, and Government, and I also  keeping up on current events on the internet. Reading was a leisure activity that I valued higher than other leisure activities. This higher value was demonstrated by me using time to read instead of  doing something else with that time. My labor was an expenditure of time for the purpose of exchanging what I produced for consumers goods that meet my needs. These needs are related to food, shelter, clothing, transportation, etc, and yes, even leisure.  We exchange what we produce with our labor to pay for our leisure activities (golf or fishing), unless our leisure activities can fund themselves. As the hours we spend on labor increase, a certain point is reached where we decide the expenditure of the next hour on labor is not valued higher than the leisure activity we would undertake with that hour. That hour is the marginal hour. Put another way we have decided that what we could receive in exchange for that hour of labor isn’t valued higher than the leisure activity that we want to pursue with that time. The leisure activity is the marginal activity. It is the  activity we value higher than the next consumers good we could purchase with the time spent on labor. If we worked every hour of the day, we would have the means to fund just about any leisure activity we desired, but we wouldn’t have the time to spend undertaking that activity.

WHAT WE VALUE CHANGES WITH THE PASSAGE OF TIME

When the economic crisis hit in 2008 the number of hours I was working decreased by two to three hours a day on average. The extra few hours I was afforded, could now be spent on any activity, or be divided between different activities, depending on how I valued them. I chose to spend the extra hours studying economics. I now had three or so hours to use reading if I continued to value reading above some other leisure activity. I spent a good part of my leisure time, from September of 08 to September of 12, reading about economics from the Austrian perspective, because I had found the website mises.org in 08. I had already read a lot of F. A. Hayek’s and Thomas Sowell’s books, so I had a fairly solid base of understanding before I took on books like Man Economy and State, Human Action, Prices and Production, The Theory of Money and Credit, and The Failure of the New Economics. Mises.org was also posting two to three articles a day related to the 2008 crisis which really helped me understand the abstract concepts written about in these books, concepts like The Austrian Business Cycle Theory. When I decided to start this website in September of 2012, the unintended consequence was, the time I was spending reading would now have to be used writing and managing the website. Writing for the site was now the activity I was choosing to spend my leisure hours on, and reading became the activity on the margin, which means reading become the activity I would choose to undertake if I had extra hours to spend on leisure.

As I started to get busier with work at the start of the summer, the couple of hours that I had previously spent on leisure activity, were now being spent working. With less leisure time I had to find extra time from somewhere if I was to continue posting articles at the previous rate. I started to write later into the night and began sleeping less hours. I temporarily decided that spending hours writing and managing the website was more valuable than a couple of hours of sleep. By the end of September I decided that I valued those couple of hours of sleep more than I valued the leisure time spent writing. The total number of posts and articles I have written since then, is lower because of my decision. If I want to post more articles I have to take the time from some other activity and use it for writing, and I also have to be more productive with the time I spend writing.

BECOMING INFORMED IS A MARGINAL ACTIVITY

We always wonder why people are not as informed about what is going on as we think they should be. Each individual goes through the same process of valuation about what they will undertake with their leisure time. Becoming informed about economics, Government, and politics takes time, and therefore will compete with other leisure activities for that time. Most people are so busy with work, family, and the daily grind of life, they don’t have a lot of leisure time to spend becoming informed, that’s where we come in. Those of us who are more informed, have to be the go to guys for the busy people who are less informed. I try to tell my friends that I’m putting the time in to learn about what’s going on. I’m condensing the information so they don’t have to spend vast amounts of leisure time searching for it. I tell them all it will take is 20 minutes a day. All they have to do is go to my website, pick three blogs from the blog roll, and read them every day. The accumulative effect will inoculate them from the spin of the media and politicians. They will eventually be able to look at the news, sift out the B.S., find the truth, and pass it on to the next person who doesn’t have time to spend on becoming informed, because it is a marginal activity.

Related Article – Ends And Values And The Law Of Marginal Utility, by Murray N. Rothbard, at mises.org.

Related Article – Marginal Utility Is Not Rocket Science, by Frand Shostak, at mises.org.

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