By: Jonathan Newman “If steel and iron works, copper mines, and sawmills cannot be operated to their full capacity, the reason can only be that there are not enough buyers on the market ready to purchase their whole output at prices which cover the costs” wrote Ludwig von Mises in Human Action.1 Chairman Mao’s steel obsession In […]
Archives for July 2017
LOL: Socialists blame capitalism for Chris Christie using a closed public beach
Every day, it becomes clearer and clearer that the left and socialists do not understand what capitalism means. As President Donald Trump would say, sad! Maybe if they understood what capitalism is, and not cronyism, then perhaps they would abandon the failed concept of socialism and start promoting capitalism. Until then, socialists continue to highlight […]
Huh? Vox’s Matthew Yglesias wants a $150/hr minimum wage
Should we laugh or cry? All over the country, jurisdictions are adopting the $15 minimum wage in an attempt to appease the Fight for $15 crowd and showcase their ignorance of basic economics. One of the common responses to a higher minimum wage is this: if you think there are zero negative consequences of a […]
A musical parody of overly dramatic Democrats (video)
If you don’t pass this bill, if you don’t vote for this piece of legislation or if you don’t add this provision to your proposal then you want people to die. That is the logic of most Democrats and Republicans today, whether it is domestic or foreign policy. Since the introduction of Trumpcare, the Democrats […]
Week in Review: June 26 to July 2
In case you missed any of this week’s articles, here is a round-up of some of the most read pieces written by the Economic Collapse News staff: Seattle low-wage workers saw incomes drop amid higher minimum wage Bernie Sanders & wife accused of bank fraud, hire ‘prominent defense attorneys’ Thank frackers on Independence Day for […]