by Dan Mitchell | Jan 10, 2022 | Big Government, Blogs, Economics, Government Spending, Keynesian
At the risk of understatement, economists are not good forecasters. And they are especially incompetent when they make forecasts based on bad policy, such as when the Obama White House projected that his so-called stimulus would quickly...
by Dan Mitchell | Jan 9, 2022 | Blogs, Economics
There are many well-meaning people who support statist policies such as punitive taxation because they believe in the zero-sum fallacy, which is explained in this short video by Madsen Pirie of London’s Adam Smith Institute. The zero-sum fallacy is especially noxious...
by Dan Mitchell | Jan 8, 2022 | Blogs, Economics, Free Market
I have shared five videos (Part I, Part II, Part III, Part IV, and Part V) that make the case for capitalism. Here’s a sixth example. The video notes that poverty was the natural condition for humanity (notwithstanding the economic...
by Dan Mitchell | Jan 7, 2022 | Blogs, Economics
Back in 2014, I shared a video explaining why the “rule of law” is important for a just and free society. Here’s another video on the same point. When I discuss rule of law (generally when explaining the various components that are used to...
by Dan Mitchell | Jan 6, 2022 | Blogs, Economics, Free Market, Welfare and Entitlements
I created the Eighth Theorem of Government to illustrate the difference between well-meaning people (who want to help the poor) and zero-sum people (who seem to think some people are poor because other people are rich). This raises the...
