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Walmart vs. Amazon Price War. Customers Win.

Written by Gary North on November 14, 2014


A fundamental rule of free market pricing is this: “Customers compete against customers. Retailers compete against retailers.” The latest example is Walmart and Amazon. Walmart headquarters has just sent down a memo. Stores are allowed to match prices on Amazon. Critics of the free market call this “cut-throat competition” I’m all for it. When retailers […]

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Democracy: The Real Deal vs. the Textbook Version

Written by Gary North on September 30, 2014


James Buchanan won the Nobel Prize in 1986. I started reading him in 1964. He was famous for his criticism of democracy in his book, The Calculus of Consent. He was one of two Nobel Prize winning economists who won the prize after the University of Virginia’s department of economics pressured him to leave. The […]

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Walmart Bank: Free Checking — No Overdraft Fees

Written by Gary North on September 24, 2014


Walmart is about to give traditional banks a run for our money. For a $9.95 a month fee, if you don’t have $500 in the account, you will be able to get free checking — no extra fees. The banks have been cleaning up on overdraft charges and bounced check charges. In 2013, they pulled […]

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China’s Vast Amateur Spy Network: Kiss Patents Goodbye

Written by Gary North on September 23, 2014


The patent system is hopeless. China can violate it daily, and does. China can violate it systematically, and does. The FBI cannot stop this. Nothing can stop this. But if the Chinese can get away with this, it means that NSA and the entire domestic spying network is hopeless, too. The American public is oblivious […]

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Scotland Will Stay In: The Betting Sites Were Right

Written by Gary North on September 19, 2014


Once again, the betting sites had it right. The public opinion polls had it wrong. The polls predicted a dead heat: too close to call. But it was easy to call, and the betting sites called it. The “no” votes smashed the “yes” votes, 56% to 44%. It was not even close. The betting sites […]

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Sears Is Going Bankrupt on the Intallment Plan

Written by Gary North on September 17, 2014


I bought a chest freezer at Sears as couple of years ago. Other than that, I have not walked into a Sears store. Millions of Americans share my shopping habit. Tastes change. Opportunities change. Prices change. Sears is about to follow Montgomery Ward into oblivion. It is barely afloat in a sea of red ink. […]

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Is the Terminator Coming? Reflections on Moore’s Law

Written by Gary North on September 15, 2014


Moore’s law: the number of transistors per square inch on a chip doubles every [??] months. The number of months gets shorter, decade by decade. The pace has accelerated since 1965, when Moore made his observation. It may be as low as 12 today. The cost of information keeps dropping. It gets less, decade by […]

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Bad News for Somali Kidnappers: Cargo Ships Without Crews

Written by Gary North on September 12, 2014


The free market is relentless in cutting costs. Next up: cargo ships without crews. Think of what this will do to Somali pirates. They can’t steer the ships. They can’t kidnap anyone. Their little boats cannot carry huge containers. Think of the unemployment this will create in Somalia. Here is a Third World nation, desperately […]

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No Picket Lines to Cross

Written by Gary North on September 12, 2014


When was the last time you saw a picket line? I know: on network TV. I mean locally. When was the last time you went shopping, and you had to cross a union picket line? It has been decades for me. It’s a shame, really. I always enjoyed crossing a picket line when I was […]

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