Canadian politicians tout their healthcare system as morally superior to private medicine. There is nothing moral about relegating thousands of people to death each year for lack of medical care.
Original Article: "Democracy Created Canada’s Lethal Healthcare System"
This Audio Mises Wire is generously sponsored by Christopher Condon.
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Reparations Are a Statist Cudgel for Bludgeoning Property Owners
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San Francisco’s panel on reparations has issued a recommendation that qualified black residents in that city receive $5 million in reparations for the financial effects of slavery and/or racial discrimination. There was never slavery in the city of San Francisco, but the panel nevertheless suggested that city inhabitants must atone for racial discrimination. Such calls for reparations to black people are based on the notion of collective white guilt. But collective guilt is a false notion, and reparations based on it would violate the property rights of those whose ancestors gained nothing from slavery, even if such parties benefited from so-called discrimination.
Leftists and left-leaning liberals extol the merits of reparations. Like New York Times columnist David Brooks, they call for
The Fear of Mass Unemployment due to Artificial Intelligence and Robotics Is Unfounded
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People are arguing over whether artificial intelligence (AI) and robotics will eliminate human employment. People seem to have an all-or-nothing belief that either the use of technology in the workplace will destroy human employment and purpose or it won’t affect it at all. The replacement of human jobs with robotics and AI is known as “technological unemployment.”
Although robotics can turn materials into economic goods in a fraction of the time it would take a human, in some cases using minimal human energy, some claim that AI and robotics will actually bring about increasing human employment. According to a 2020 Forbes projection, AI and robotics will be a strong creator of jobs and work for people across the globe in the near future. However, also in 2020, Daron Acemoglu and Pascual
Our Economic Illiteracy
2023-03-14
“Economics,” wrote Henry Hazlitt, “is haunted by more fallacies than any other study known to man.”
True. No epoch is immune to the scourge of economic illiteracy.
Yet, we find ourselves in a moment of especially unprecedented economic ignorance. We’ve come a long way since the days of Hazlitt’s editorializing in the New York Times. In the 1930s, believe it or not, the Times held the line on economic orthodoxy in the face of emergent quackery.
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Behavioral Economics Challenges the Rationality of Consumer Choices
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A relatively new area of study in economics, behavioral economics, has started to gain popularity. The behavioral economics framework emerged because of dissatisfaction with the neoclassical theory regarding consumer choice. A major problem with the neoclassical theory is that human beings are presented as if hardwired with a scale of preferences. Regardless of circumstances, this scale is considered to remain the same at all times.
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We think of thieves as conducting their work when no one is looking, such as breaking into a house while the owners are away. But the most successful thieves have done their stealing in plain sight, on a grand scale, while the owners were home and often with their tacit approval, though with sleights of hand that few are able to detect. Such a theft occurred when Woodrow Wilson signed the Federal Reserve Act into law on December 23, 1913.
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