Tag: Economy

1447: Bob Murphy – Rent Control Creates Slumlords

W1447: Bob Murphy - Rent Control Creates Slumlords
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
Normal Quality (3840×2010 134 KB)
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
Normal Quality (3073×3840 167 KB)
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy
If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy

If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down.

Under rent control, there are no market penalties for shoddy service because there is a long line of potential tenants. Thus rent control does not eliminate but rather creates “slumlords” who in a market system would have to compete to attract and retain tenants.

—Robert P. Murphy

1442: Ron Paul – The Most Evil of All Taxes

W1442: Ron Paul - The Most Evil of All Taxes
The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul
The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul
Download Print Quality (3840×2010 2 MB)  |  Normal Quality (1920×1005 199 KB)
The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul
Download Print Quality (3840×2743 3 MB)  |  Normal Quality (1920×1372 259 KB)
The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul
The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul

The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul

1424: Antony Davies – About Unintended Consequences

W1424: Antony Davies - About Unintended Consequences
The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies
The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies
Download Print Quality (3840×2010 205 KB)  |  Normal Quality (3840×2010 107 KB)
The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies
Download Print Quality (3840×3840 290 KB)  |  Normal Quality (3840×3840 144 KB)
The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies
The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies

The thing about unintended consequences is it doesn’t matter whether your intent is good, it doesn’t matter whether the regulation that you’re imposing is well thought out, it doesn’t matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies

1415: Hannah Cox – Strangling Capitalism

W1415: Hannah Cox – Strangling Capitalism
You can't strangle an industry with regulations, mandates, red tape, bureaucracy, and government control and then blame capitalism when it sucks. —Hannah Cox
You can't strangle an industry with regulations, mandates, red tape, bureaucracy, and government control and then blame capitalism when it sucks. —Hannah Cox
Normal Quality (1920×1005 182 KB)
You can't strangle an industry with regulations, mandates, red tape, bureaucracy, and government control and then blame capitalism when it sucks. —Hannah Cox
Normal Quality (1920×1372 235 KB)
You can't strangle an industry with regulations, mandates, red tape, bureaucracy, and government control and then blame capitalism when it sucks. —Hannah Cox
You can't strangle an industry with regulations, mandates, red tape, bureaucracy, and government control and then blame capitalism when it sucks. —Hannah Cox

You can’t strangle an industry with regulations, mandates, red tape, bureaucracy, and government control and then blame capitalism when it sucks. —Hannah Cox

1386: Thomas Sowell – Pay is Not a Reward for Merit

W1386: Thomas Sowell – Pay is Not a Reward for Merit
People born into families with every advantage of wealth, education, and social position may be able to achieve a high level of productivity without any great struggle that would indicate individual merit. Conversely, people who have had to struggle to overcome many disadvantages, in order to achieve even a modest level of productivity, may show great individual merit. But an economy is not a moral seminar authorized to hand out badges of merit to deserving people. An economy is a mechanism for generating the material wealth on which the standard of living of millions of people depend. Pay is not a retrospective reward for merit but an incentive for contributing to production. —Thomas Sowell
People born into families with every advantage of wealth, education, and social position may be able to achieve a high level of productivity without any great struggle that would indicate individual merit. Conversely, people who have had to struggle to overcome many disadvantages, in order to achieve even a modest level of productivity, may show great individual merit. But an economy is not a moral seminar authorized to hand out badges of merit to deserving people. An economy is a mechanism for generating the material wealth on which the standard of living of millions of people depend. Pay is not a retrospective reward for merit but an incentive for contributing to production. —Thomas Sowell
Normal Quality (3840×2010 129 KB)
People born into families with every advantage of wealth, education, and social position may be able to achieve a high level of productivity without any great struggle that would indicate individual merit. Conversely, people who have had to struggle to overcome many disadvantages, in order to achieve even a modest level of productivity, may show great individual merit. But an economy is not a moral seminar authorized to hand out badges of merit to deserving people. An economy is a mechanism for generating the material wealth on which the standard of living of millions of people depend. Pay is not a retrospective reward for merit but an incentive for contributing to production. —Thomas Sowell
Normal Quality (3073×3840 173 KB)
People born into families with every advantage of wealth, education, and social position may be able to achieve a high level of productivity without any great struggle that would indicate individual merit. Conversely, people who have had to struggle to overcome many disadvantages, in order to achieve even a modest level of productivity, may show great individual merit. But an economy is not a moral seminar authorized to hand out badges of merit to deserving people. An economy is a mechanism for generating the material wealth on which the standard of living of millions of people depend. Pay is not a retrospective reward for merit but an incentive for contributing to production. —Thomas Sowell
People born into families with every advantage of wealth, education, and social position may be able to achieve a high level of productivity without any great struggle that would indicate individual merit. Conversely, people who have had to struggle to overcome many disadvantages, in order to achieve even a modest level of productivity, may show great individual merit. But an economy is not a moral seminar authorized to hand out badges of merit to deserving people. An economy is a mechanism for generating the material wealth on which the standard of living of millions of people depend. Pay is not a retrospective reward for merit but an incentive for contributing to production. —Thomas Sowell

People born into families with every advantage of wealth, education, and social position may be able to achieve a high level of productivity without any great struggle that would indicate individual merit. Conversely, people who have had to struggle to overcome many disadvantages, in order to achieve even a modest level of productivity, may show great individual merit. But an economy is not a moral seminar authorized to hand out badges of merit to deserving people. An economy is a mechanism for generating the material wealth on which the standard of living of millions of people depend. Pay is not a retrospective reward for merit but an incentive for contributing to production. —Thomas Sowell

1378: Thomas Sowell – Government Planning

W1378: Thomas Sowell – Government Planning
“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell
“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell
Normal Quality (1920×1005 221 KB)
“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell
Normal Quality (1920×1372 287 KB)
“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell
“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell

“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell

1374: Walter Block – Youth Unemployment & Minimum Wage

W1374: Walter Block - Youth Unemployment & Minimum Wage
In 1948, white teenage unemployment in the U.S. was 10.2%, while black teenage unemployment was only 9.4%. This was when the effective minimum wage rate was much lower. Today, in a much less discriminatory epoch, but where teenagers are “protected” by a more stringent minimum wage law, white youth unemployment is 13.9%, while black youth unemployment is an astounding and shameful 33.5%. —Walter Block, The Case for Discrimination, 2010
In 1948, white teenage unemployment in the U.S. was 10.2%, while black teenage unemployment was only 9.4%. This was when the effective minimum wage rate was much lower. Today, in a much less discriminatory epoch, but where teenagers are “protected” by a more stringent minimum wage law, white youth unemployment is 13.9%, while black youth unemployment is an astounding and shameful 33.5%. —Walter Block, The Case for Discrimination, 2010
Normal Quality (3840×2010 114 KB)
In 1948, white teenage unemployment in the U.S. was 10.2%, while black teenage unemployment was only 9.4%. This was when the effective minimum wage rate was much lower. Today, in a much less discriminatory epoch, but where teenagers are “protected” by a more stringent minimum wage law, white youth unemployment is 13.9%, while black youth unemployment is an astounding and shameful 33.5%. —Walter Block, The Case for Discrimination, 2010
Normal Quality (3840×3840 148 KB)
In 1948, white teenage unemployment in the U.S. was 10.2%, while black teenage unemployment was only 9.4%. This was when the effective minimum wage rate was much lower. Today, in a much less discriminatory epoch, but where teenagers are “protected” by a more stringent minimum wage law, white youth unemployment is 13.9%, while black youth unemployment is an astounding and shameful 33.5%. —Walter Block, The Case for Discrimination, 2010
In 1948, white teenage unemployment in the U.S. was 10.2%, while black teenage unemployment was only 9.4%. This was when the effective minimum wage rate was much lower. Today, in a much less discriminatory epoch, but where teenagers are “protected” by a more stringent minimum wage law, white youth unemployment is 13.9%, while black youth unemployment is an astounding and shameful 33.5%. —Walter Block, The Case for Discrimination, 2010

In 1948, white teenage unemployment in the U.S. was 10.2%, while black teenage unemployment was only 9.4%. This was when the effective minimum wage rate was much lower. Today, in a much less discriminatory epoch, but where teenagers are “protected” by a more stringent minimum wage law, white youth unemployment is 13.9%, while black youth unemployment is an astounding and shameful 33.5%. —Walter Block, The Case for Discrimination, 2010

1364: Antony Davies – Venezuelan Inflation

W1364: Antony Davies - Venezuelan Inflation
To address its cash crunch, the Venezuelan government printed money, which gave birth to rampant inflation. Depending on whom you ask, Venezuela’s annual inflation rate exceeded something between 60,000 percent and 200,000 percent in 2019. To put that in perspective, a product that cost one dollar in January 2019 would cost between $600 and $2,000 by the end of 2019. —Antony Davies, James R. Harrigan
To address its cash crunch, the Venezuelan government printed money, which gave birth to rampant inflation. Depending on whom you ask, Venezuela’s annual inflation rate exceeded something between 60,000 percent and 200,000 percent in 2019. To put that in perspective, a product that cost one dollar in January 2019 would cost between $600 and $2,000 by the end of 2019. —Antony Davies, James R. Harrigan
Normal Quality (3840×2010 121 KB)
To address its cash crunch, the Venezuelan government printed money, which gave birth to rampant inflation. Depending on whom you ask, Venezuela’s annual inflation rate exceeded something between 60,000 percent and 200,000 percent in 2019. To put that in perspective, a product that cost one dollar in January 2019 would cost between $600 and $2,000 by the end of 2019. —Antony Davies, James R. Harrigan
Normal Quality (3840×3840 161 KB)
To address its cash crunch, the Venezuelan government printed money, which gave birth to rampant inflation. Depending on whom you ask, Venezuela’s annual inflation rate exceeded something between 60,000 percent and 200,000 percent in 2019. To put that in perspective, a product that cost one dollar in January 2019 would cost between $600 and $2,000 by the end of 2019. —Antony Davies, James R. Harrigan
To address its cash crunch, the Venezuelan government printed money, which gave birth to rampant inflation. Depending on whom you ask, Venezuela’s annual inflation rate exceeded something between 60,000 percent and 200,000 percent in 2019. To put that in perspective, a product that cost one dollar in January 2019 would cost between $600 and $2,000 by the end of 2019. —Antony Davies, James R. Harrigan

To address its cash crunch, the Venezuelan government printed money, which gave birth to rampant inflation. Depending on whom you ask, Venezuela’s annual inflation rate exceeded something between 60,000 percent and 200,000 percent in 2019. To put that in perspective, a product that cost one dollar in January 2019 would cost between $600 and $2,000 by the end of 2019. —Antony Davies, James R. Harrigan

1356: Frank Dikotter – The Great Leap Forward

F1356: Frank Dikotter – The Great Leap Forward
By unleashing China’s greatest asset, a labour force that was counted in the hundreds of millions, Mao thought that he could catapult his country past its competitors. Instead of following the Soviet model of development, which leaned heavily towards industry alone, China would ‘walk on two legs’: the peasant masses were mobilised to transform both agriculture and industry at the same time, converting a backward economy into a modern communist society of plenty for all.
By unleashing China’s greatest asset, a labour force that was counted in the hundreds of millions, Mao thought that he could catapult his country past its competitors. Instead of following the Soviet model of development, which leaned heavily towards industry alone, China would ‘walk on two legs’: the peasant masses were mobilised to transform both agriculture and industry at the same time, converting a backward economy into a modern communist society of plenty for all.
Normal Quality (3072×3840 223 KB)

By unleashing China’s greatest asset, a labour force that was counted in the hundreds of millions, Mao thought that he could catapult his country past its competitors. Instead of following the Soviet model of development, which leaned heavily towards industry alone, China would ‘walk on two legs’: the peasant masses were mobilised to transform both agriculture and industry at the same time, converting a backward economy into a modern communist society of plenty for all.

In the pursuit of a utopian paradise, everything was collectivised, as villagers were herded together in giant communes which heralded the advent of communism.

People in the countryside were robbed of their work, their homes, their land, their belongings and their livelihood. Food, distributed by the spoonful in collective canteens according to merit, became a weapon to force people to follow the party’s every dictate.

Irrigation campaigns forced up to half the villagers to work for weeks on end on giant water-conservancy projects, often far from home, without adequate food and rest. The experiment ended in the greatest catastrophe the country had ever known, destroying tens of millions of lives.

—Frank Dikötter, Mao’s Great Famine

1334: John Stossel – The Free Market is Magical

W1334: John Stossel – The Free Market is Magical
I viewed the marketplace as a cruel place, where you need intervention by government to protect people. But after watching the regulators work, I have come to believe that markets are magical, and the best protectors of the consumer. It is my job to explain the beauties of the free market. —John Stossel
I viewed the marketplace as a cruel place, where you need intervention by government to protect people. But after watching the regulators work, I have come to believe that markets are magical, and the best protectors of the consumer. It is my job to explain the beauties of the free market. —John Stossel
Normal Quality (1920×1005 263 KB)
I viewed the marketplace as a cruel place, where you need intervention by government to protect people. But after watching the regulators work, I have come to believe that markets are magical, and the best protectors of the consumer. It is my job to explain the beauties of the free market. —John Stossel
Normal Quality (1920×1372 343 KB)
I viewed the marketplace as a cruel place, where you need intervention by government to protect people. But after watching the regulators work, I have come to believe that markets are magical, and the best protectors of the consumer. It is my job to explain the beauties of the free market. —John Stossel
I viewed the marketplace as a cruel place, where you need intervention by government to protect people. But after watching the regulators work, I have come to believe that markets are magical, and the best protectors of the consumer. It is my job to explain the beauties of the free market. —John Stossel

I viewed the marketplace as a cruel place, where you need intervention by government to protect people. But after watching the regulators work, I have come to believe that markets are magical, and the best protectors of the consumer. It is my job to explain the beauties of the free market. —John Stossel