Inequality And The Gold Standard

Imagine that you earn $40,000 a year and your boss doubles you at $80,000 a year. Business was good to you both in 2013, and you received a 25% raise for your efforts. Not bad, and your boss gets to share in this good fortune too with an extra $25,000 (about 30%). You’re going to make $50,000 in 2014 and your boss will pull in $105,000. Are you happy with this deal? Probably. But wait, income inequality just increased! Your boss originally outpaced you by 100%, but now his salary…

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Taxation and Forced Labor | Mises Wire

When the government taxes you, it is taking away your money without your consent, and this is theft. This argument is well known, but there is another, though related, problem with taxes on income that you earn. By taking away part of the money you earn, the government is forcing you to work for it. Robert Nozick advanced this argument in Anarchy, State, and Utopia, and what I’d like to discuss in this week’s column is a defense of Nozick’s argument by Adam D. Moore that was published this year…

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Why Sound Money Is “Green” and Central Banks Aren’t

[Editor’s note: this is a special preview—for Mises Wire readers—of Europe’s Century of Crises under Dollar Hegemony: A Dialogue on the Global Tyranny of Unsound Money, a dialogue book by Brendan Brown and Philippe Simonnot newly published by Palgrave Macmillan.] Although many central bankers have claimed the central banks are instrumental in ushering in a more green economy, a closer look suggests central banks are anything but “green.” In fact, a sound money economy might be a much more effective tool in improving the physical environment. Philippe Simonnot:  Ecology is where statism and socialism now…

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What the Covid Vaccine Hype Fails to Mention

If there were a reduction in mortality from these vaccines, that information would be in the first paragraph of the announcement. But it’s not there, which suggests the vaccines aren’t as effective as claimed.  Original Article: “What the Covid Vaccine Hype Fails to Mention”. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros.   Source link

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Why Commies Hate Your Thanksgiving Dinner

The Thanksgiving holiday in the United States has a checkered past. Its more recent origins lie largely in government attempts at pushing propagandistic narratives. For example, Abraham Lincoln demanded Americans be thankful for “the advancing armies and navies of the Union” during the Civil War. George Washington instructed Americans to give thanks for the new constitution in 1789. While Andrew Jackson refused to boss around his constituents with days of mandatory gratitude, proclamations of prayer and thanksgiving have been used by many US presidents, especially during times of crisis. In practice,…

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Lockdowns Destroy What Makes Us Human

While GMU economist Tyler Cowen may have dismissed the idea of more pandemic lockdowns as being “a straw man” and saying that the extreme measures that started in March of this year “are now behind us,” it seems that governors and other politicians around the country have failed to get the message. More and more states have begun to once again impose ruinous lockdowns. The media and Twitter are filled with self-righteous scolds shrieking about the impending doom of families gathering together for Thanksgiving. CNN host Jake Tapper suggested that…

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Why Legal Kratom May Face a Battle with Drug Companies

Kratom is a natural drug based on the leaves and extractions of a plant of the same name that come from Southeast Asia. It is said to treat a variety of ailments and conditions, most notably withdrawal symptoms from heroin and other addictive drugs. It is also considered a mood and energy booster and is also used recreationally. The product contains compounds that can have psychotropic (mind-altering) effects, although the product is largely legal in the US. Mostly it is consumed for pain and relaxation, like cannabis. While legal nationwide, concerns about…

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How to Decrease Income Inequality

[Originally published November 2013] The Globe and Mail has been up in arms over the growing wealth divide in Canada. Or at least the perception of a growing wealth divide. As part of its Wealth Paradox series, this weekend’s edition looked at some policies aimed at reducing income inequality in the country. Before assessing whether these measures will indeed reduce income inequality—and thus preserve what the Globe claims to be that “cherished” Canadian value of “equality of opportunity for all”—we should look at whether or to what extent income inequality…

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Giving Thanks to Society’s Economic Benefactors

With all the attention commanded by the presidential campaign, election, and aftermath, plus the ongoing covid-19 story, many other issues have faded into the background. Though escaping the headlines, some of these other issues will be with us for a long time, and contributions to the public discussion of such issues often have a long-term impact. One such issue is a long-time favorite of progressives: income inequality. The most influential recent addition to the discussion is a study announced by the renowned RAND Corporation in September. RAND’s detailed, thorough, meticulous study…

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