The C grade Fred Smith received from a Yale professor about his vision for an overnight delivery service is much less remarkable than is assumed. Naturally Smith got a C. Rest assured that most investors gave him an F, assuming they bothered to hear Smith’s pitch in the first place. Evidence supporting the above claim […]
Fred Smith Was Too Smart for Joseph Schumpeter, and Donald Trump Read More »
The Federal Reserve did not cause the Great Depression. To pretend that it did is to believe that central planners dictate access to capital from the proverbial Commanding Heights, and that the central planners were “stingy” in the 1930s. The fatuous Fed/1930s narrative raises a basic question: why are successful investors paid so well?
No, Yet Again, Federal Reserve Did Not Cause the Depression Read More »
Central planning fails, always and everywhere. Leo Tolstoy wasn’t the first to see this, but he provided readers with one of the best articulations of the previous truth in War and Peace. In it, Tolstoy rejected all the “great man” theories of war. He’d seen war up close, and knew that the natural human instinct
The Iran Discussion Would Be Lots Improved By a Little Tolstoy Read More »
Buc-ee’s, the creator of the world’s greatest gas/charging stations and accompanying convenience stores that are beyond football field length, doesn’t need a law to compensate its employees well. Just the same, Buc-ee’s doesn’t consult “supply and demand” charts to happen on the “right” employee wages. Which means Buc-ee’s is a wonderful rejection of left
High Pay at Buc-ee’s Rejects the Left and Right’s Economics Read More »
Donald Trump’s policies aren’t what won him a majority of voters in the most recent election, or a majority of electoral votes in 2016. More realistically, it was Donald Trump who won the presidency both times. Opinion pieces continue to gloss over this. Take a recent piece by the great Kathleen Parker at the Washington Post. Writing about Hannah
The Myths About “Trump Voters” and Their Preferences Read More »
Temu is a low-cost online marketplace that has had the temerity to achieve popularity with American buyers while also being Chinese. In response to Temu’s achievements in the world’s most competitive consumer market, Nebraska attorney general Mike Hilgers has filed a complaint that Temu installs “malware” of some kind that gives the company access
With Temu Attacks, We See Politicians Were Sadly Never Stopping at TikTok Read More »
Do you take Amazon or Walmart dollars? In the question it’s easy to see the problem with bitcoin, and other well-known speculations. People aren’t prone to storing their wealth meant for essentials in speculative instruments. Which is why bitcoin will never be broadly circulated as money. See its well-documented turbulence. Really, who would speculate
Bitcoin Will Never Circulate As Money, But Amazon and Walmart Will Read More »
It’s easy to forget that individual saving in no way shrinks consumption. Short of placing money saved into a coffee can, to save is to shift consumptive ability to someone else. What’s true about individual saving is true about government savings. No act of parsimony shrinks the size of government either. That’s why Elon
Spending Cuts Won’t Shrink Government, and May Well Expand It Read More »
France’s best-known stock index, the CAC 40, is up 18 percent over the last twenty-five years. The S&P 500 is up 24 percent over the last two months. These numbers rate comment. For one, they vivify the stupidity of so-called “trade deficits” in the U.S. There’s no such thing, nor is there such thing as insufficient savings
France’s CAC 40: Nail In the ‘Fed-As-Market-Opium’ Narrative Read More »
Most – including the writer of this opinion piece – listen to music in the way they watch football. They don’t hear the important, truly cerebral things in music in much the same way that they don’t see the truly important, cerebral things in football. Listening to the Beach Boys, it was easy to
Adam Smith Would Have Appreciated Brian Wilson Read More »
