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Minimum Wage vs. Balance

I began, several weeks back, by stating that minimum wage laws are a terrible idea. I made several posts laying the ground for the idea that minimum wage laws represent only a small part of the problem of government intervention, which upsets the balance in markets established through unfettered exchange. I now return to the … Continue reading Minimum Wage vs. Balance

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Consumer Sovereignty

Legislating minimum wages, at any level, is a dumb idea. It fits a pattern of dumb ideas suggested by the interventionists in governments. Many of the critics say that minimum wage laws lead to more unemployment. That statement turns out to be accurate, but I want to begin this discussion on a much more fundamental … Continue reading Consumer Sovereignty

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Crazy Markets

In my post titled “Money Tree,” I explained in a general way how the addition of “non-market money[1]” distorts market prices, which in turn leads to a misallocation of resources. In this post, I will build a hypothetical model to show how that process works in more specific conditions. I will follow two different market … Continue reading Crazy Markets

Green New Deal – 2030

Commenting on The Green New Deal would waste my time, except for the attention some influential people have given it. It would, if passed, lead to a life of misery that would make catastrophic climate change seem like a marvelous alternative. I receive letters from strange people and strange places. Most of them, If they … Continue reading Green New Deal – 2030

Disrupting the Money Cycle

Artificial changes in the money supply always disrupt the money cycle and cause price disruptions that lead to production problems in otherwise normally functioning markets. Introduction The complexity of large markets makes the diagramming of market processes difficult at best. One must take great care in not overstepping the bounds of logic and systems thinking. … Continue reading Disrupting the Money Cycle