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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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Cuban Tariffs: “Bad!” American Tariffs: “Good!”

Written by Gary North on September 1, 2014


Cuba is officially Communist. So, Americans know that the government’s regulations are bad for the people. They understand that Communist government regulations increase the poverty of families, who face much harder times. “Fidel Castro is a bad guy. So is his kid brother.” So, when they read of import restrictions like these, they know for […]

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How Loud Does Money Talk? Proposed Time Warner and Comcast Merger Could Show

Posted on April 15, 2014


A study recently released by Frontiers of Freedom suggests that in the Obama administration, money talks. The paper insists that crony capitalism is behind many of the Justice Department’s decisions when it comes to approving or rejecting mergers, and that “friends” of the Administration stand to gain enormous financial “gifts” in return for their generosity. […]

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World’s Largest Life Insurance Policy Taken Out By California Billionaire

Posted on March 18, 2014


An unnamed Silicon Valley billionaire has purchased the world’s most valuable life insurance policy. The San Jose Mercury News reported Saturday that Guinness Book of World Record officials say the $201 million life insurance policy is more than double the previous record. A Southern California financial services company who helped put the deal together declined […]

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Minimum Wage Laws: Litmus Test for Economists

Written by Gary North on February 24, 2014


I have learned over the last half-century that there are two litmus tests of an economist’s commitment to the idea of voluntary exchange as a means of increasing net productivity and net income. One of them is the doctrine of free trade. The other is the doctrine of minimum-wage legislation as a source of increased […]

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Tariffs Are Sales Taxes for Dummies

Written by Gary North on November 20, 2013

Probably the most successful conceptual error that is promoted by defenders of tariffs is this one: “Tariffs are good for the nation.” Tariffs, being sales taxes, are good for the national government, but they are not good for the nation. At best, they are less bad for the nation than a graduated income tax. But […]

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Upside-Down Economic Reporting: Higher Oil Prices Are Good.

Written by Gary North on September 5, 2013

I am always astounded at what passes for economic analysis in the media. This is a recent example. Bloomberg ran a headline: Widening Trade Deficit Signals Improving U.S. Demand: Economy. I see. A trade deficit. Americans are borrowing more from abroad — foreign lenders — to buy things. What kind of things? We read: “The […]

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Austrian Steel Producer Builds a Plant in Texas

Written by Gary North on July 11, 2013

Why would a huge steel production company build a plant in Texas? First, Texas has no labor unions to speak of. Second, America has cheap natural gas. With energy cheap, the USA has an advantage. To take advantage of this, America needs free trade. So does Austria. Will free traders in America pressure the federal […]

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