Tag Archives | economics

I Confess My Sin to the Pope

Dear Pope Francis: I am writing to confess my sin. That’s what you Catholics are supposed to do, to confess your sin to an authority figure, right? OK, then, I’m confessing mine. You see, I fit the description you recently gave of those who support the capitalist economic system, who have fallen into the sin […]

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Paul Krugman’s Case Study in Inequality

Last week, Gawker got the scoop on the terms of New York Times columnist Paul Krugman’s new position with the City University of New York. A letter from the university offers to pay Krugman $225,000 for his first nine months of work, in exchange for which he has no responsibilities except to “play a modest […]

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Why You Can’t Work Your Way Through College Any More

You can’t work your way through college any more. That’s the conclusion of an article that sets out the figures for how long you have to work these days to pay for a year’s tuition. In effect, if you were to work long enough to pay for your tuition and room and board, you would […]

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An Internship in Economics

For the past few years, there has been a campaign building against the use of unpaid corporate interns. It’s another little episode of middle-class Marxism, in which the college-educate bourgeoisie starts to bang on as if they were oppressed proletarians. The actual economic role of internships is pretty obvious. They offer a way for young […]

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Star Trek Economics

I’ve been planning to do a follow-up to my recent article on Atlas Shrugged as a historical novel by writing about those aspects of Atlas that haven’t dated and are most relevant in today’s context. Just scanning the news will give you plenty of examples, including this one, a report in the leftist online magazine […]

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There’s Nobody as Dumb as a Smart Person

The problem with a reductio ad absurdum argument is that sometimes your opponent accepts the absurdity and just runs with it. When smokers were suing cigarette companies and the FDA was proposing to regulate tobacco, we thought it was a devastating retort to say, “What next, are they going to sue fast food restaurants and […]

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