Regulation and the subprime mortgage crisis

For free market advocates, it will come as no surprise that the subprime mortgage crisis was largely the result of government mismanagement of the economy. With the growing popularity of Bernie Sanders, I wanted to take a look at how socialism specifically caused the recent Great Recession and comment on what we should have learned going forward. A significant housing bubble was inflated, in part … Continue reading Regulation and the subprime mortgage crisis

Minimum Wage

Some people seem convinced that increasing the minimum wage will increase GDP and not cause an increase in unemployment. It does not take much effort to think through the consequences of a minimum wage increase. Many who favor this view may be spurred on by studies that purport to show that moderate increases in the minimum wage resulted in increasing employment instead of dis-employment. To … Continue reading Minimum Wage

Rand Paul, Warmonger

I may get drummed out of libertarian circles for heresy, but Rand Paul is no libertarian. He is a Republican warmonger, just like George Bush. Hear me out. I know that Rand Paul has expressed skepticism at the warfare state and even filibustered the use of drones. He also preached cuts in the “defense” budget. However, like a true politician, he never consistently preaches any … Continue reading Rand Paul, Warmonger

Socialism, the true debate

Advocates of socialism often cite equality as a justification for socialism. Bernie Sanders often points out the growing inequality of wealth in the United States and advocates for what he calls democratic socialism as a remedy. But if under socialism the means of production, distribution, and exchange are owned or regulated by the community, what system do we currently have? Why are the wealthy getting … Continue reading Socialism, the true debate

Capitalism and Socialism

I recently watched a video titled 5 Ways America Is Already Socialist. It started off with a definition of socialism and preceded to list 5 things mostly having nothing to do with America being socialist as they defined it. Economists actually refer to the United States as having a mixed economy, having aspects of both socialism and capitalism. The definition of socialism given is “political … Continue reading Capitalism and Socialism