- Closed System
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- Notable Quotables
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Occupy Wall Street demands are vaguely familiar
The protestors on Wall Street known as ‘Occupy Wall Street’ have recently been identified by a list of demands evidently posted by one of their followers. Though there are no…
The social contract question
Granted we are social animals and engaged in a social contract, why does Warren assume that the factory owner isn’t putting forth his part of the bargain? Is it assumed…
Is Social Security a Ponzi Scheme?
In the last couple of Republican presidential debates, a comment made by candidate Rick Perry on whether Social Security is a Ponzi Scheme has been the center of much discussion….
A theory about the poor’s aversion to welfare
(The Economist) Instead of opposing redistribution because people expect to make it to the top of the economic ladder, the authors of the new paper argue that people don’t like…
The plight of the middle class
Robert Reich connects the dots on the economy, in less than 2 minutes and 15 seconds. A number of questions arise, not the least important of which has to do…
Solving the problem by adding to it and making it worse
(The New York Times) There is something you should know about the deal to cut federal spending that President Obama signed into law on Tuesday: It does not actually reduce federal…
The debt debate goes back long before Nov. 2010
(Reuters) – White House and congressional negotiators are racing against the clock to forge a deficit reduction deal that would clear the way for Congress to raise the $14.3 trillion…
Summer reading list (for the economically and politically inclined)
Other than Juggernaut, there are plenty of good, substantive books out there for the economically and politically minded to delve into this summer–on the plane, at the beach, or just…
What is the difference between the Austrian and Chicago Schools of Economics?
Two of the most influential and comprehensive schools of economic thought, the Austrian and Chicago Schools have much in common, especially in their opposition to Keynesianism. But, as Robert P….
Planned economy or planned destruction?
The more things change, the more they stay the same. This cartoon was published in the Chicago Tribune in 1934.
The remedy for Fox and CNN
Beck Bennett charges America’s Youth with the challenge of dissecting the big issues and news and politics.
How to choose a winner
Thanks to another week of volatility in the markets, we are again face-to-face with the fact that there is absolutely no sensible reason for the movement of stock and derivatives…
Freedom: For Whom and From What?
These ideas need to be debated on a regular basis. Watch live streaming video from aynrandcenter at livestream.com
Economist soundtracks–Keynes
In this and subsequent “economist soundtracks”, we will feature a playlist of songs that highlight each economist’s life and work. To kick things off, I have chosen the economist that…
Death of the Dollar?
(Money Morning) At 12:15 p.m. April 27, at the conclusion of a two-day Federal Open Market Committee (FOMC) meeting, we’ll find out whether U.S. Federal Reserve Chairman Ben S. Bernanke…
A government of Hottentots
(Washington Post) It was billed as President Obama’s big speech on reducing the federal budget deficit. But the Wednesday afternoon address sounded at times like the speech he did not…
How does adding debt prevent us from default?
Geithner’s suggestion is to raise the amount of debt the borrower can take in. But that only allows the borrower to get further in the hole, and end up owing more every year. If the borrower can’t pay off the debt as it stands, what is to say that he will be able to do so when the debt is more than his income?
A kindred spirit in effort to slay the Juggernaut
Released in 2009, Chris Martenson’s video seminar ‘Crash Course’ provides an excellent analysis of our predicament. Expanding the talk into what he calls “the Three ‘E’s”, this seminar is comprehensive…
Is there a difference between economics and politics?
On the surface, the question might seem beside the point. Economics is the study of economic transactions between people and groups and politics is the practice of governing. But with…