Think Freely Media presents Common Sense with Paul Jacob


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While the Clock Ticks

Pushing annual federal spending over a trillion bucks into the red? It has consequences.   “Our debt is growing, and it’s growing fast,” writes Veronique de Rugy at Reason. “Though it’s a shame that lawmakers passed tax cuts without cutting spending to offset short-term losses in revenue, there’s no doubt

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Death and . . .

It’s a sure thing — that most folks will like President Trump’s tax cuts. Though we don’t yet know all the details. When it comes to taxes, less is more.  That is, if you’re paying taxes. It is no great mystery that people like it when their own taxes are reduced.

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Three, Three, Three Mints in One!

Microsoft just announced an innovation that might give folks who fear business behavior — or are extremely skeptical of the positive public outcome of markets — pause. The Bellevue, Washington, company is adding Google calendar connectivity for its Macintosh users of Outlook 2016. [Pause.] You see, monopolies give us the

Robert Reich, Mythed Up

onsumer sovereignty is the idea that in markets consumers call the shots. In capitalism, most mass production is indeed for the masses, and the masses have a big say in what gets done. All profits and wages of successful businesses come from consumers. But don’t take this too far. Consumers

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Inconvenient Cash?

Everywhere I turn these days, I am hearing something about the push to get rid of cash. Yes, cash. Greenbacks. Federal Reserve Notes. You might think that getting rid of cash is a no-brainer. Cash makes up only 11 percent of the money supply. Most of the money stock is

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Miseducated and Unemployed

The persistence of the issue of raising the minimum wage is an indictment of public education, for at least two reasons: It shows that “our” schools are not teaching basic economics. Generally, those who think minimum wages help the poor do not understand what wages are (price of labor), why

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Why Protectionism

Why do so many people (especially politicians) favor high tariffs, “managed trade,” embargoes and domestic subsidies, all of which — first as “mercantilism” and then as “protectionism” — have been debunked, repeatedly (demonstrated as ineffective economic policy), since Adam Smith’s famous 1776 attack? Economist Donald Boudreaux, in an excellent defense

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Assuming the Fix

Social Security, like similar systems in Europe, is on a trajectory to insolvency, which could lead to a sovereign debt crisis. The reason for the crisis? Social Security has always been a pay-as-we-go system, dependent on many workers paying in to a system that sends their contributions to a smaller

Angus Deaton, Nobel Prize, Economics, The Great Escape, Inequality, collage, photomontage, JGill, Paul Jacob, Common Sense

Plotting Progress

The prestige of the Nobel Peace Prize has been tarnished by some more-than-dubious awards, in our time . . . Henry Kissinger and Barack Obama, most obviously. Same goes for the Bank of Sweden’s knock-off “Memorial” prize for economics. But, according to David R. Henderson, this week’s Nobel nod to

Finding the Right Balance

Fifteen or Fifty or Zero?

Washington Post columnist Catherine Rampell just stumbled into a truth. Raising minimum wages could be disastrous. Depending on the rate. While “Bernie Sanders, Martin O’Malley and a host of other well-intentioned liberals want to hike the federal minimum wage to $15 an hour,” she calls the proposal “badly misguided.” And

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Shocking Consequences

Five years into (the latest phase of) the Greek debt crisis, a former bureaucrat who was unable to withdraw her money from an ATM when the government declared a bank holiday had this to say: “How can something like this happen without prior warning?” It’s always a surprise — to

D. Stockman

The Fed Feeds a Scam

Real and effective “anti-establishment” ideas come from unexpected places. That is, they are unexpected if you read only the dominant media and its insider sources, or follow politics only during the quadrennial presidential farce. Quite a few news junkies would be surprised at David Stockman’s critique of current Federal Reserve

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