Gambling Prohibition, Monopolies, and the “Trump” Bankruptcies: A Lesson for Conservatives

In case I get accused of libertarianism (again!), since I am writing criticisms of gambling prohibition, let me just say that I am not one. I am a Christian who thinks the Bible is the authoritative word of God that contains wisdom for all people in all places. And in the Bible, I see that a great deal of behavior can bring about bad consequences. But I don’t see all that behavior being illegal. I do see many examples of laws and government prohibitions on sex outside of marriage (thus, I can’t Read more […]

“Social Justice” Is Often a Rationalization for Injustice

The contemporary definition of “social justice” is that a self-selected elite chooses who gets robbed and who gets crumbs. Oh, and the self-selected elite always end up well-paid, like that destitute woman, Hillary Clinton. From Gary North, “A Dialogue on Social Justice.” What Is social justice? Economist Walter Williams has an answer. “I keep what I earn, and you keep what you earn. If you believe that you deserve some of what I earn, please explain why.” Dr. Williams is skeptical about Read more […]

Is Big Oil A Rigged Cartel? Lawsuit Alleges Price Fixing

Oil is a highly regulated industry in most places in the world. Environmental laws have the potential to be used to keep out new entries into the industry and thus allow the established oil companies to cartelize and restrict production for the sake of higher prices. This has happened in the past. For example: The majors [major oil companies] now began to promote policies under the cloak of “conservation” that would limit “wasteful” production: it was already clear that pumping oil too rapidly from Read more […]

More Playing Monopoly Under The Unaffordable Care Act: Obamacare Is An Old Fallacy

A physical therapist wrote the economic blogger, Mike “Mish” Shedlock, about another feature of Obamacare: A cornerstone of ACA (Obamacare) is promotion of Accountable Care Organizations (ACOs) intended to be fully integrated systems, capable of taking patients through a complete continuum of care. Allegedly, ACOs would reduce price. ACOs (virtually the same as hospital consolidation) do not deliver on the promises. Many anti-capitalists claim that the free market leads to cartels where Read more […]

Monopoly Not A Game For Rural Areas Under Obamacare

New York Times headline: “Health Care Law Jacks Up Prices To The Moon For Rural Areas.” Just kidding. But, for the New York Times, the real headline was about as strong as we could hope for: “Health Care Law Fails To Lower Prices For Rural Areas.” While competition is intense in many populous regions, rural areas and small towns have far fewer carriers offering plans in the law’s online exchanges. Those places, many of them poor, are being asked to choose from some of the highest-priced Read more […]