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“Illegal Immigrants Steal Americans’ Jobs.”

Written by Gary North on December 17, 2014

american-jobs

This is another cliché of protectionism. I keep adding more, here: http://www.garynorth.com/public/department162.cfm The logic of economics applies across borders: county, state, and national. Deny this, and you deny economics. Conservatives deny economics. They promote tariffs and import quotas across national borders, but not state and county borders. Ludwig von Mises had a word for this: […]

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Walmart vs. Amazon Price War. Customers Win.

Written by Gary North on November 14, 2014

amazon-walmart

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

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-banking

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

patents

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

intrade

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

sears

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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