One of the cliches of the New Deal was that businesses were entitled to a “fair” profit. Leonard Read astutely pointed out that profits (and losses) have nothing to do with “fairness.”
Original Article: Are Businesses Entitled to a Fair Profit?
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Arkansas’ Attack on Chinese-Owned Property Is Reckless and Crony-Driven
2023-11-28
Citing national security concerns, Arkansas ordered Chinese company Syngenta to sell off the 160 acres of farmland it owns in the state. The national security concerns are, as will be demonstrated, bogus; however, there may be more crony motivations for this order as well.
An article of mine published in July 2023 by the Libertarian Institute addresses these national security concerns. Walter Block also recently published a piece examining the issue. As it turns out, China owns hardly any farmland in the United States, composing 0.03 percent of total farmland “privately” owned in the US.
Additionally, if China were to use the land for strategic purposes, the US government would not hesitate to seize it. If anything, Chinese land in the US signals a commitment to peace rather than conflict.
Fed Rate Cuts Will Not Save The Economy
2023-11-25
Market implied Fed Funds rate discount a string of cuts starting in January 2024 and culminating in a 4.492 percent in January 2025. These expectations are based on the perception that the Federal Reserve will achieve a soft landing and that inflation will drop rapidly. However, market participants who assume rate cuts will be bullish may be taking too much risk for the wrong reasons.
The messages from the Federal Reserve contradict the previously mentioned estimates. Powell continues to repeat that there is more likelihood of rate hikes than cuts and that the battle against inflation is not over.
Markets are not following monetary aggregates, and what they show is not good for the economy. According to the Federal Reserve, between September 2022 and September 2023, M1 declined from
Seven Reasons to Abandon the Public Health System
2023-11-24
Despite the numerous permanent problems faced by public healthcare systems, a significant number of people (such as citizens, politicians, and doctors) still seem to deem them necessary and believe that the problems associated with them can be solved by, for example, better management, increased expenditure, or central planning. Therefore, in this essay, the main arguments in favor of a gradual departure from public systems will be presented alongside the benefits of (unhampered) market solutions.
1. The Public System Overly Restricts the Role of the Consumer
In the market, despite the important role of entrepreneurs and capitalists, it is the consumer who is the most important link. In the economic sense, the whole process and organization of the production structure is subordinated to
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