First, a healthy way to think about trade: Canada produces more and better maple syrup and high quality copper than the USA does. Yet the USA’s California wines are better than Canadian wines and the USA produces more hickory lumber than Canada does. So, Americans get more of their maple syrup and copper from Canada […]
Tariffs as tit-for-tat revenge Read More »
I enjoyed Martin Fridson‘s book of that title — with the subtitle Proven Strategies from the Titans of Wealth. Fridson’s method is to study those who’ve become billionaires to isolate common traits and actions. Ross Perot, Bill Gates, Sam Walton, H. L. Hunt, Warren Buffett, John D. Rockefeller, Wayne Huizenga, and others get careful (and
*How to Be a Billionaire* Read More »
I’m again doing some work on the philosophy of money, now that we’re into the Bitcoin and crypto era, so reprising this piece. At the Library of Law and Liberty’s site — my reaction to Leonidas Zelmanovitz’s ambitious work in the philosophy of money: Review of The Ontology and Function of Money: The Philosophical Fundamentals of
My review of Zelmanovitz on money’s truth and money’s health Read More »
A flotilla of ships is approaching your shore. Does it matter to you whether they are carrying smartphones and shoes — or rockets and soldiers? In his Economic Sophisms, Frédéric Bastiat makes this exasperated point: “A French ironmaster says: ‘We must protect ourselves from the invasion of English iron!’ An English landlord cries: ‘We must
War metaphors and trade — Bastiat Read More »
From the preface to Andy Grove‘s (recommended) Only the Paranoid Survive: “The sad news is, nobody owes you a career. Your career is literally your business. You own it as a sole proprietor. You have one employee: yourself. You are in competition with millions of similar businesses: millions of other employees all over the world.
Andy Grove on the entrepreneurial employee Read More »
Quince argumentos para el Capitalismo Liberal: Este post va a formar parte de una serie de argumentos del libro “Liberalism: Pro & Con” de Stephen Hicks en español. Pueden encontrar todos los argumentos que serán publicados en orden en el siguiente link: Liberalism: Pro & Con en español. Argumento 8: Más individuos sobresalientes florecen bajo
Imagine a college dormitory, students away from home, and available alcohol. In any student population, some will drink too much. But most will do fine. Now suppose a Dean of Students who installs a bar in the dorm and subsidizes the price of booze, especially for favored students. Not surprisingly, the amount of student drunkenness
Drunk college kids, Wall Street, and the Federal Reserve Read More »
Calls for “Government-Business cooperation” to run the economy should be seen as skeptically as calls for “Government-Religion cooperation” to manage our minds and souls.
Government and Business cooperation? Read More »