In the market economy, wealth generators do not produce everything for their own consumption. Part of their production is used in exchange for the produce of other producers. Hence, in the market economy, production precedes consumption. This means that something is exchanged for something else. This
James A. Dorn China’s strong economic growth following its shift from state‐led development (central planning) to marketization in 1978, and its drive to join the World Trade Organization (WTO), are testaments to the idea that widening the range of choices open to people—via internal and external
From Data are Plural (10/11): Michigan air permit violations. For local news organization Planet Detroit, freelance journalist Shelby Jouppi has built a daily-updating dashboard of air quality permit violations cited by Michigan’s Department of Environment, Great Lakes and Energy. The dataset lists 1,500+ violation notices since 2018; for each, it provides the notice date and
Anastasia P. Boden It’s the most wonderful time of the year! Last week, on the first Monday in October, the Supreme Court reconvened for a brand new term. It’s slated to be another big one—with cases involving guns, regulation of social media platforms, and several doctrines that
Members of the Canadian Parliament recently applauded a Ukrainian member of the Nazi Waffen-SS during World War II. Apparently, it's now okay to be a Nazi so long as you're fighting the Russians. Original Article: The Left Is Now Telling Us (Ukrainian) Nazis Aren't So Bad After All
Saturday the world was rocked by the outbreak of war in southern Israel as Hamas fighters crossed out of Gaza, taking hostages and killing Israeli civilians. The political leader of Hamas says the attacks were in response to the Israeli treatment of Palestinians at the
[In recent months, Senior Fellow Mark Thornton has been covering today's economy in detail in his Minor Issues podcast, so we asked him some questions about where the economy is headed now.] Mises Institute: You’ve become notable for the idea of the “skyscraper curse,” which is an
Haiti famously won its independence from France during a slave revolt, but being independent has not brought political stability or prosperity. Instead, Haitians struggle to get by in the Western Hemisphere's poorest country. Original Article: Haiti May Have Won Independence, But It Is Not Independent of Chaos
Jeffrey A. Singer The New York Times reports today about a flood of illicit e‑cigarettes arriving from China “in Barbiecore colors and fruit, ice cream and slushy flavors,” accounting for a “major share of the estimated $5.5 billion e‑cigarette market in the United States.” This “never‐ending influx
Whether you’re a conservative or libertarian, the notion of government shutdowns is no longer an alien concept considering that Washington managed to add a whopping $1 trillion to the gross national debt in a matter of three months—a large percentage coming from interest expenses alone.