What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation. ~Ludwig von Mises
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Minimum Wage Question: A letter to our President
Posted on Author Sean Dempsey
A logical and inquisitive letter to our President from two established professors of Economics in VA. 17 February 2013 Mr. Barack Obama, President Executive Branch United States Government 1600 Pennsylvania Ave., NW Washington, DC Dear Mr. Obama: In this year’s State of the Union Show you called for the hourly minimum-wage to be raised from […]
Classic problem with left-wing economists
Posted on Author Sean Dempsey
This article from Slate does a very decent job at explaining how bad the economic situation is and will most likely remain so for the foreseeable future. Then near the end, the classic Keynesian slip, “That is not to say that there is nothing to be done, of course, or that the current state of […]
Children Surround Obama as he Further Diminishes Freedom, Just Like Hitler
Posted on Author Sean Dempsey
Let me justify why i posted this meme, before i’m too-badly blasted by my lefter-leaning friends. I usually despise the “Obama vs Hitler” juxtapositions as ridiculous and un-founded. So to clarify: I am NOT saying that President Obama is Hitler or that under his Presidency America will ever become a fascist, blood-hungry state. That’s lunacy […]