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Empire Was Socialist by Rick Kelo

Socialism & Star Wars Oct 4, 2016

Star Wars is not usually considered filled with economic lessons so this may surprise you. Did you know the Empire was Socialist? Before we get to that briefly, what is Socialism? As Socialism has failed time after time its advocates constantly shift their definition. As a result the economists of today, most of whom were educated 20+ years ago, rebut Socialism as it was advocated in the 80s. That analysis is oftentimes not helpful in discussing the flaws of Socialism with a 2016 Socialist. The discussion goes like this: You: Socialism is State-ownership of the means of production. Socialist: That’s...

By Rick Kelo Vote6 0

The Economics of a Tariff Jun 7, 2016

The Economics of a Tariff I've been recently discussing free trade with Celeste Drake.  Celeste is an attorney for the AFL-CIO and, as one might expect, an advocate of trade barriers against imported goods. Previously, I wrote an article showing part of the reasoning behind how we know trade benefits the country who receives the imports.  However, since that article didn't cover the impact of tariffs specifically I've decided to expand upon it here for Celeste's reading pleasure and yours. Tariffs A tariff is a sales tax levied on an imported good.  Most sales taxes are levied at the cash register, but a tariff is...

By Rick Kelo Vote4 1

The Simple Economics of a Bubble Feb 9, 2016

If you crack open almost any lower level economics textbook you won't get very far in before you encounter the Production Possibility Frontier.  In the most widely circulated (although total garbage) econ textbook of all time, Samuelson Nordhaus, you'll encounter their famous PPF of guns vs. butter on page 11. The idea is simple: if you choose between producing two things that consume the same resource you can either produce all of Thing A, all of Thing B, or some combination depending on how much of the resource it takes to make A and B.  As an easy example considering...

By Rick Kelo Vote5 1

Study: 99.9% of Americans harmed by Social Security Sep 12, 2015

As Social Security turns 80 years old have you ever stopped to wonder whether you are better or worse off for having government confiscate 12.4% of your wages?

By Rick Kelo Vote6 4

American poverty vs. African Wealth Sep 7, 2015

How does the poorest American compare to the richest African?

By Rick Kelo Vote5 0

The Benefit of Trade Mar 3, 2015

  Trade is beautiful.  People cooperating.  Voluntary.  Peaceful.  Everyone exchanging something they value less highly for something they value more highly.  These are some of the ideological reasons people love trade, but what about the tangible reasons? Here is one way to explain the gains from trade without relying on ideology. Situation 1 is an America that doesn’t trade.  We’re going to look at two goods America can produce.  I’ve called them Good A & B but they could be snowboards & skis… or guns & butter. The curve in Situation 1 is called a “Production Possibility Frontier.”  America can produce any combination of Goods A &...

By Rick Kelo Vote7 4

Prices for levitra Barstool Economics Aug 31, 2014

Let's look at the old parable "Barstool Economics" compared to America's current income tax regime.

By Rick Kelo Vote8 3

Rand Paul: How U.S. Interventionists Abetted the Rise of ISIS Aug 28, 2014

Opinion: How U.S. Interventionists Abetted the Rise of ISIS By RAND PAUL Aug. 27, 2014 6:35 p.m. ET As the murderous, terrorist Islamic State continues to threaten Iraq, the region and potentially the United States, it is vitally important that we examine how this problem arose. Any actions we take today must be informed by what we've already done in the past, and how effective our actions have been. Shooting first and asking questions later has never been a good foreign policy. The past year has been a perfect example. In September President Obama and many in Washington were eager for...

By Rick Kelo Vote3 1

What is vardenafil 20mg tab What Economists Think: August 2014 Aug 25, 2014

Every 6 months the National Association for Business Economics conducts a survey on a few major topics. They released the most recent survey results this morning.

By Rick Kelo Vote5 1

Minimum Wage Causing Unemployment in 2 Photos Aug 11, 2014

Photos I took last month in 2 major American cities.

By Rick Kelo Vote25 3

Things that Confuse Alan Greenspan Aug 9, 2014

Does the man who caused the Great Recession have any idea what he's done? I found the answer in his latest book.

By Rick Kelo Vote7 3

Tid-Bits of Classic Liberalism: Democracy Aug 1, 2014

Classic Liberalism inspired most of the modern representative governments. So what does this philosophy say about Democracy? More than you might expect!

By Rick Kelo Vote7 1

The American Sugar Cartel (Part 2) Jul 24, 2014

The larger the government the more avenues available for big business to gain influence over government. No example stands out more than the sugar industry. America pays more than double the price for sugar that the rest of the world pays.

By Rick Kelo Vote7 3

The American Sugar Cartel Jul 22, 2014

Your well-being (both physical & financial) is eaten in a million little bites from a million little parasitic programs. These are the government interventions that cause Americans to pay 2x the global price of sugar due... and the 4 big businesses who benefit.

By Rick Kelo Vote9 3

The Bosses of Capitalism in 1 Picture Jul 21, 2014

Who are the real bosses of capitalism? Ask Ludwig von Mises.

By Rick Kelo Vote3 1

Human Freedom: The Cause of It All Jul 20, 2014

Rousseau opened Social Contract with the famous quote "Man is born free, and everywhere he is in chains." I disagree with Rousseau: most of human history man hasn't been born free.

By Rick Kelo Vote8 5

History of Racism & the Minimum Wage Jul 18, 2014

Imagine you're in a land of science fiction. In this land an evil eugenicist designs a shot that kills 40% of the African Americans who receive it, then mixes it with another invention of his: a vaccine against the common cold.

By Rick Kelo Vote14 2

Tid-bits of Classic Liberalism: Negative vs. Positive Liberty Jul 17, 2014

The term liberty was hijacked by social liberals in the early 1900s. This is a look at its two meanings.

By Rick Kelo Vote4 1

Botswana vs. America (Economics NOT Soccer) Jul 8, 2014

Let's compare free trading, nearly total laissez-faire Botswana to heavily interventionist Detroit. The results will surprise you.

By Rick Kelo Vote10 2

On Independence Day 2 Classic Liberals Speak Jul 4, 2014

"It would be a hard government that should tax its people one-tenth part of their income." ~ Benjamin Franklin Food for thought. America rebelled against England, in part, over taxation that was only a fraction of today's tax burden.  In fact, the Founding Fathers struggled with the notion a nation would tax its people at even 10%! Scholars at the time considered oppressive taxation by using a "1/3 test."  Feudal overlords had required homage equivalent to 1/3 of the crop produced on their land by serfs.  So the belief, in the late 1700s, was that any taxation over 1/3 was...

By Rick Kelo Vote3 0

What Capitalism Did to Botswana Jul 3, 2014

Since Botswana adopted capitalism & free trade it has enjoyed the highest economic growth rate of any nation in the world, even surpassing Hong Kong. Private sector growth in Botswana has been in the double digits for going on 4 decades! All accomplished through peaceful cooperation – no seizures, no expropriation, no redistribution. - That is the power of economic liberalization. - That’s the power of trade liberalization. - That is the power of markets.

By Rick Kelo Vote15 6

Mussolini: The Swashbuckling Rapist Jul 2, 2014

When we look at Mussolini's life several trends jump out. The first was he loved women - he slept with 169 of them. The second is he loved socialism and devoted his life to it.

By Rick Kelo Vote6 1

Debunking Keynesian Economics: Part 1 Jun 25, 2014

Debunking Keynesian Economics pt. 1 By Rick Kelo This is the first in a 10 part article series. Ever wanted to learn more about Keynesian economics?  Ever found it incredibly hard to put your hands on an organized presentation of the beliefs and the errors in Keynesian economics?  Its hard for the lay-person to even nail down what Keynesians actually stand for since that name is used by several opposing ideologies.  There are things Keynes actually said, then things that his acoloytes have later expanded upon and now claim in his name. We will look at both. In this article series...

By Rick Kelo Vote5 2

America’s Secret Ruling Class: The Bureaucrat Jun 16, 2014

The bureaucrat takes home a larger paycheck than 87% of the people working in America. You cannot take pay away from the bureaucrat. A vote for a smaller government does not mean less benefit to the needy, it means less money taken from the needy to make the bureaucrat rich.

By Rick Kelo Vote3 0

The Austrian & the Income Gap Jun 10, 2014

A brief, a priori examination of the income gap.

By Rick Kelo Vote6 0

Krugman Calls for Death Panels & Middle Class Tax Increases Jun 9, 2014

A look inside the glib justifications of the Statist mind.

By Rick Kelo Vote4 0

Income Inequality: A Critique of Piketty & Saez Jun 6, 2014

Income inequality is a tricky subject and very few people understand it. After reading this article you will know more about the subject than almost anyone else you'll ever discuss it with. Also, by the end of this article I'll have armed you with both the sources & theoretical framework of this topic.

By Rick Kelo Vote7 2

Socialism & Mass Murder in the 20th Century Jun 5, 2014

Without equal, the worst evils mankind has ever had to endure have all been inflicted by big governments. This is an examination of the major democides in the 20th century. It is a list of the people murdered by their own government.

By Rick Kelo Vote32 2

How Capitalism Makes You Fat Jun 4, 2014

Starvation, as it turns out, is the biggest killer of mankind over our entire 200,000 year history. So how did this reversal between obesity and starvation happen?

By Rick Kelo Vote9 3

Capitalism and Socialism: Crash Course World History Jun 2, 2014

For those unfamiliar with the "Crash Course in World History" series its quite entertaining. This short video summarizes the development of each school of thought.

By Rick Kelo Vote3 1

History of Socialism: Orgies & Polygamy Jun 2, 2014

This is one of the jucier tid-bits of socialist history. It comes from the Anabaptist movement's attempt to install communism during the Munster Rebellion.

By Rick Kelo Vote3 0

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