The Relationship Between the Declaration of Independence and the Constitution
- March 21, 2017
by Paul Prentice As the human tragedy and economic damage from Hurricane Harvey continue to mount, it won’t be long until several tired old economic myths are trotted out. First among these is what Frederic Bastiat called the “Broken Window Fallacy”. Accountants-disguised-as-economists will point to the so-called economic stimulus from the rebuilding efforts. But the
READ MOREPrinted in the Boulder Daily Camera, summary: Nobel laureate economist Paul Krugman says a massive defense buildup in response to “fake an alien threat” would end the economic slump. An EconStories rap explains the fallacy: “If every worker was staffed in the army and fleet, we’d have full employment and nothing to eat.” Repealing the 2010 health control act would spur employment. Continue reading
READ MOREIn the American Spectator David Catron points out a disturbing quote from Medicare & Medicaid Services head Donald Berwick is.
Berwick’s view of rationing is, in fact, the opposite of [Paul] Ryan’s. The latter believes it should be driven by the informed decisions of consumers in a free market, while […]