Category: Aggregated

Ronald H. Coase’s 1960 article, “The Problem of Social Cost,” has misled more free market economists than any scholarly article ever published. It has been cited in footnotes more than any other law review article. I published my refutation in 1990. I also refuted Coase’s disciple, Gary Becker. Coase won the Nobel Prize in 1991. Becker won in 1992. This indicates my degree of influence with the Nobel committee. Coase died at the age of 102 in 2013. Coase’s article rests on a specious ethical neutrality. It also invokes a world of zero transaction costs: human omnisciece. He made the … Continue reading →

Citi Group’s top economist, Willem Buiter, sees a big problem with cash. He is of the opinion that becasue interest rates are so low, the Federal Reserve is not able to pump sufficient quantities of money into the economy. He holds this view despite the fact that the money supply has grown by near 50% , since the interest rate controlled by the Fed, the Fed Funds rate, has been near zero. Buiter somehow views this money growth as not sufficnt, despite the fact that sound economics teaches that it is increased production of goods and services, not increased money … Continue reading →

By Dr. Mercola In a survey of at-home spending patterns on food among US households, the Economic Research Service (ERS) of the US Department of Agriculture revealed Americans are throwing a lot of their food budgets toward very unhealthy foods. The average US household spent most of their food budget (nearly 18 percent) on refined grains followed by sugar and candies (at nearly 14 percent). The next highest category was red meat (mostly from concentrated animal feeding operations, or CAFOs), followed by frozen or refrigerated entrees and beverages.1 In stark contrast, Americans spent less than 0.5 percent of their food … Continue reading →

It is one of history’s ironies that the Lincoln Memorial is a sacred space for the Civil Rights Movement and the site of Martin Luther King’s “I Have a Dream” speech. Lincoln did not think blacks were the equals of whites. Lincoln’s plan was to send the blacks in America back to Africa, and if he had not been assassinated, returning blacks to Africa would likely have been his post-war policy. As Thomas DiLorenzo and a number of non-court historians have conclusively established, Lincoln did not invade the Confederacy in order to free the slaves. The Emancipation Proclamation did not occur … Continue reading →