The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. – F.A. Hayek
Posted in Inequality on Aug 14th, 2007
In fact, for the typical 1970s family, paying 24% of its income in taxes works out to be $9,288. And for the 2000s family, paying 33% of its income is $22,374. Although income only rose 75%, and expenditures for the mortgage, car and health insurance rose by even less than that, the tax bill increased [...]
Posted in Inflation on Aug 13th, 2007
Read more here.
Posted in Money on Aug 10th, 2007
Did you know that despite Federal Reserve Notes (i.e. dollars) being legal tender, the Internal Revenue Service will not allow taxslaves to pay their tribute with Federal Reserve Notes?
Posted in Environment on Aug 10th, 2007
After an early forecast of a major hurricane season hitting the US (which DID get lots of news coverage … see here for example), that same researcher has now lowered his estimates for this upcoming hurricane season. Of course, it is still expected to be “severe” by historical standards. This has nothing to do with [...]
Posted in Environment on Aug 8th, 2007
More from Jesse Ausubel’s excellent, Nuclear and Renewable Heresies: Over 500 years, in a fully nuclear world the high level readioactive wastes might amount to … less than the … coal Americans burn in one year to produce half of USA electricity … all of the reactors needed to produce 100% of the world’s energy [...]
Posted in Behavior, Economics Problems on Aug 6th, 2007
It is very easy for survey respondents to say that they are not happy, or to take positions which seem “out there,” the reason being that people rarely have the proper incentives to reveal how they actually feel about various policies and positions. For example, Robert Frank (e.g. author of Luxury Fever among others) has [...]
Posted in Economic Illiteracy, Economics Problems on Aug 3rd, 2007
The List: Five Lies My Economist Told Me From Foreign Policy Magazine.
Posted in History, Politics, Public Choice on Aug 2nd, 2007
Here’s more from Keynes: It is the method of modern statesman to talk as much folly as the public demand and to practise no more of it than what is compatible with what they have said, trusting that such folly in action as must wait on folly in word will soon disclose itself as such, and [...]
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