This is what I call the Goodbye Lenin Delusion, the idea that socialism could have turned out completely differently. It could not, and it never will anywhere, no matter how often we insist on trying.
Foreign aid transfers money from poor people in rich countries to rich people in poor countries.
Paraphrase: Matt Riddly
How Can Sweatshops Help The Poor Escape Poverty?
Want to save people from poverty? We know how to do that.
Because “green energy” is only profitable with government incentives, it naturally follows that “perverse incentives” result.
https://capx.co/the-scottish-wind-power-racket/“>The Scottish wind-power racket – CapX
As Matt Riddly keeps saying, “green energy” takes from the poor and gives to the super rich.
The road to poverty is paved with good intentions.
Minimum wage version:
Watch “Go To Where The Light Is: Escaping North Korea — Yeonmi Park” on YouTube
What she escaped from is Socialism. What she escaped to is Freedom. Socialism is antifreedom. Why any person would desire to inflict Socialism on themselves, their neighbors, their children is something I cannot understand.
Price controls – both price ceilings and price floors – reduce the quantities of price-controlled goods and services that consumers actually get.
Don Boudreaux explains why Price Controls destroy productivity. What is true of artificially low prices (price ceilings) and artificially high costs (minimum wages) are so bad for everyone – not just business.
Capitalists act as a disciplined group preying upon workers and consumers only if they succeed in persuading the state to orchestrate and oversee such predations. Tariffs, occupational licensing, and other state interventions – typically cheered naively by “Progressives” as “victories” for the People – are all too often the means used by producer groups to steal what does not belong to them.
Note: I use the term “capitalism” loosely, since by definition, once business owners begin seeking this type of privilege, they are no longer acting as capitalists, but as cronies.
nor shall you be partial to a poor man in his lawsuit.
Exodus 23:3 ESV
Nobody likes being told there is no such thing as a free lunch. But it is incredibly important. Unless someone reminds the public that free lunches are illusory, they may never figure out how to get a meal in the first place.
Alex Salter, Economist-Man and His Never-Ending Battle
An outstanding explanation of “rent seeking,” and how it destroys wealth and opportunity.
Considering what is indeed the historically unprecedented great enrichment that market economies have created for the masses, to complain about today’s differences in monetary incomes or wealth is akin to complaining about the color of a rescue ship that has just saved the lives of hundreds of people who were on the verge of drowning at sea.
– Don Boudreaux
Bogged at Cafe Hayek