What if everything you've heard about income inequality is wrong? John Tamny, editor of RealClearMarkets, clarifies one of the big misunderstandings of our time.
In the video above, Milton Friedman discusses the fallacy of doing good with other people’s money. He also explains how that means that the welfare state at its core is a philosophy of violence and coercion.
Surprised? You shouldn't be. As Bono pointed out in a recent speech, Capitalism takes more people out of poverty. Great read from the fantastic Ed Morrissey at The Fiscal Times on how the media got Pope Francis's comments on Capitalism wrong. Click the link in the title to read it.
Via Newsbusters, the great Dambisa Moyo gives Bill Maher a lesson in economics 101. If you haven’t done so yet, be sure to check out Ms. Moyo’s latest book Winner Take All: China’s Race for Resources and What It Means for the World.
Link: Say, just how “fine” is the private sector doing, anyway? Great post by Ed Morrissey @ HotAir.
There are some highlights I’d really like to hit. The first one is that about 41.3% of unemployed have been unemployed for 39.1 weeks. That is huge and pretty much says it all. This is the weakest recovery since the Great Depression. A whole 4/5ths of the drop of the unemployment rate is due to a drop in the labor force participation. It is the lowest since 1981. (Video via Gateway Pundit)
From Monday, it was Paul versus Paul on inflation, government spending and the role of the FED on Bloomberg TV. Dr. Paul kicked his can here. Mr. Krugman completely distorts the cause of the Great Depression in the debate and also says the post World War II economy was best ever. This is two examples of Mr. Krugman completely misrepresenting the truth. Some highlights: Ron Paul – “Governments aren’t suppose to run the economy, people are suppose to run the economy.” …