percentage-income-spent-on-energy

The Cruelest Tax Of All

A “progressive” tax is one where the wealthier you are the higher percentage of tax you pay. On the other hand, I’ve said before that a tax on energy, the so-called “carbon tax”, is one of the most regressive taxes available. It is the reverse of progressive, it hits the poor the hardest. This is…

jabba

US Public Sector Unions

I grew up in a union-supporting household on my mom’s side. My grandmother, the Captain’s Daughter, was a great supporter of the unions as the savior of the working man. She was born in 1885, so she’d seen the early rise of the unions, with all that entailed regarding basic safety and the like. My…

apples-and-oranges

Monetizing Apples And Oranges

Let me start by thanking Richard Tol, Marcel Crok, and everyone involved in the ongoing discussion at the post called “The Bogus Cost of Carbon”. In particular, Richard Tol has explained and defended his point of view, giving us an excellent example of science at work. In that post I discussed the “SCC”, the so-called “Social Cost of Carbon”. There…

trade-barriers

How Rich Countries Got Rich

I’ve mentioned before what I see as the most important economic analysis for our times. This is “How Rich Countries Got Rich . . . and Why Poor Countries Stay Poor” by Eric Reinert. Several folks pointed out that it is an expensive book, so a few days ago I did an analysis of an…

us-balance-of-trade

True Wealth

I used to be a strong proponent of free trade, until I real “How Rich Countries Got Rich … And Why Poor Countries Stay Poor” by Erik Reinert. His exposition is a tour-de-force, covering the actual history of trade, tariffs, and how England, France, and Germany used them to become wealthy. It’s not a cheap…

nail-making-machine

Why Free Trade Isn’t

I lived for eight years in the Solomon Islands, 1985 to 1991 and 2007 to 2009. The Solomons are a nation of about three hundred islands just south of the Equator. The only thing most Americans have heard of there is Guadalcanal, because it was an island that was the site of World War II battles.…

cien-bolivares

The Beeb Omits A Detail

In a bold push to be the leader in the creative use of NewSpeak, the BBC is covering the new Venezuelan currency regulations without once mentioning the economic system whose name cannot be spoken. Here’s their above-the-fold opener: Venezuela pulls highest-value banknote ‘to strike against mafia’ 8 hours ago From the section Latin America &…