Category Archives: Economics on the left

New York waiters know economics better than leftwing celebrities

But how hard is that? Dan Mitchell reports that waiters in New York have rubbished a high-profile push by female showbiz celebs to raise the minimum wage. (Using waiters in a gender neutral sense like pilots and captains. Who needs … Continue reading

Posted in Economics on the left, Rafe | 14 Comments

More trouble looming for Venezuela

It is hopefully only a matter of time before Juan Guaido inherits the ruins of Venezuela. But Ben Powell and Rafael Acevido warn that the road to recovery will be long and hard under the socialist policies that Guaido will … Continue reading

Posted in Economics on the left, International, Rafe | 15 Comments

What I learned from my presentation on socialism

Quite interesting discussion today on what’s wrong with socialism and why don’t we teach what’s wrong with socialism. The consensus at the end – which I might add I am not part of – was that we do teach what … Continue reading

Posted in Economics on the left, Socialism | 27 Comments

Invitation to seminar tomorrow on Why Socialism Cannot Work

I am doing my presentation to the School tomorrow on “I, Mechanical Pencil” which is really a critique of socialism as well as a critique of standard textbook theory which never discusses anything relevant to why a socialist economy can … Continue reading

Posted in Economics on the left, Socialism | 23 Comments

Doubling down on incompetence

What else is he going to say, I suppose, but say it he did: Labor’s record spending while in power has been used as an attack for years. Wayne Swan, responsible for the debt, says he’s proud of it. That … Continue reading

Posted in Economics on the left, Federal Politics | 23 Comments

What is capitalism?

There is an interesting thread at Powerline on the question What is socialism? The central aim of socialism has always been to rid ourselves of the capitalist system. And what, exactly, do these socialists wish to get rid of? Certainly … Continue reading

Posted in Economics and economy, Economics on the left, Socialism | 72 Comments

The economics of envy

Here’s a typical bit of leftist rubbish: Wealth concentration near ‘levels last seen during the Roaring Twenties,’ study finds. Such studies, and no doubt accurate to the third decimal. But suppose we just change the heading a bit: Wealth levels … Continue reading

Posted in Cultural Issues, Economics on the left | 12 Comments

A model for Chris Bowen. If a tax increase fails to return what you expected, hike the rate!

Dan Mitchell loves to report the weird things that big government politicians do. New Jersey is a classic case. Petrol was quite recently taxed at 14.5c a gallon, second lowest in the US. But then… In October 2016, then-Gov. Chris … Continue reading

Posted in Economics on the left, Rafe | 21 Comments

Lying for a carbon tax

Dan Mitchell looks at the lies that the US Democrats are using to sell a carbon tax. The claim about “revenue neutrality” is a stunning level of dishonesty, even by Washington standards. At the risk of stating the obvious, if … Continue reading

Posted in Economics on the left, Rafe | 7 Comments


That’s MMT, Modern Monetary Theory. I am just following behind a thread at Instapundit: NASSIM TALEB IS NOT PUTTING UP WITH YOUR BULLSHIT, he’s the NNT, which began with this: It’s this Stephanie Kelton who is the focus here, another … Continue reading

Posted in Economics on the left | 82 Comments