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 Personal Finance, Price System on Jul 3rd, 2011
Once graduation hits and the students go home, I rarely head into my office. Many of my class-notes and books are there, and that is a true cost of not heading in, but I generally really dislike my commute for a whole host of reasons. “Pick up and move!” you might say to me. I’d [...]
Posted in Personal Finance on Apr 8th, 2011
Regular readers probably are aware that I view public education as the single most appalling institution in America. As a result, we send our children to Catholic schools. While I do have some fondness for the type of education the Catholic schools supply, I probably hold the human embodiment of the Catholic church to be [...]
Posted in Government Thuggery, Personal Finance, Politics, Taxation, Welfare State, ethical foundations on Mar 9th, 2010
Per capita GDP in the United States is roughly $47,000. Per capita personal income is about $39,880. Let’s think about the kind of tax system we have in the U.S. What kind of effective marginal tax rates do you think a family faces that has per capita income below half of per capita GDP in [...]
Posted in Economic Illiteracy, Personal Finance on Dec 19th, 2009
Do NOT take financial advice from Kiplinger’s Personal Finance Magazine. Are there economics editors over there? The brief article is talking about how zero inflation is “bad for you.” Ignore the larger economic question about how inflation is bad for you, this article is arguing that from a pure dollars and sense perspective, inflation makes [...]
Posted in Personal Finance on May 22nd, 2008
The startling revelation in the recent Congressional hearings on the Bear Stearns situation was not simply that the SEC and its Chairman Christopher Cox failed to foresee the impending failure of Bear Stearns. Rather, the remarkable news was that at all times leading up to its failure, Bear Stearns was in compliance with each of [...]
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