The seven stages every single empire has gone through… Stage 1: A country starts out with good money, which is either gold or backed by gold. Stage 2: As it develops economically and socially, it begins to take on more and more economic burdens, adding layer upon layer of public works and social programs. Stage […]
Archive : Economics
Saving like the Dickens (1864)
(from ALL THE YEAR ROUND, No. 254, March 5, 1864, vol. XI, pp. 79-81) MY ACCOUNT WITH HER MAJESTY I NEVER laid by a penny till the Post-office Savings-banks came up. Not that I mightn’t have done so, for I earned good wages, and after paying all the expenses at home, I had always plenty of loose […]
Legislating Delinquency, Monopolizing Filth and Forging Chains.
Statists love to hand out money that is not theirs to give, and bash anyone who has restraint. For instance, anyone who questions the minimum wage gets basted with the silly characterization of un-caring elitists with a “let them eat cake” attitude
Best Explanation of the Federal Reserve
Go to http://www.garynorth.com/ to read more like this. Why Economists Love the Federal Reserve by Gary North Reality Check (March 29, 2011) The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and […]
bullet-points for learning economics the fun way
I’m putting together a list of topics that must be addressed for economic literacy and financial awareness. What is [something] worth to me? (how to assess value–for yourself vs. others) risk vs. safety, how to judge? how to mitigate risks diversification: true vs. phantom taxes –this is huge and could be broken down several ways… […]
Can we afford Tax cuts? How about spending cuts?
Some scoff at the idea that the US government could balance the budget without rolling back “the Bush tax cuts.” But not so fast: even IF all 9 major categories of cuts were re-instated (estimated 300 billion dollars worth), that would be a small fraction of the current annual deficit (over 1 trillion dollars), and […]