George Reisman's Blog on Economics, Politics, Society, and Culture

This blog is a commentary on contemporary business, politics, economics, society, and culture, based on the values of Reason, Rational Self-Interest, and Laissez-Faire Capitalism. Its intellectual foundations are Ayn Rand's philosophy of Objectivism and the theory of the Austrian and British Classical schools of economics as expressed in the writings of Mises, Böhm-Bawerk, Menger, Ricardo, Smith, James and John Stuart Mill, Bastiat, and Hazlitt, and in my own writings.

Tuesday, April 12, 2011

Wages and the Irrelevance of Worker Need and Employer Greed

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The Marxian doctrine of the alleged arbitrary power of employers over wages appears plausible because there are two obvious facts that it re...
Wednesday, April 06, 2011

How to Eliminate Social Security and Medicare*

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Expenditures under the Social Security and Medicare programs account for approximately one-third of total federal government spending.1 It i...
Monday, January 10, 2011

WHERE PROFIT COMES FROM

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Labor unions like to argue that the payment of higher wages is to the self-interest of employers because the wage earners will use their hig...
Sunday, November 21, 2010

Raising Taxes Is Not Reducing Government Spending

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Today’s New York Times carries an article titled “The Blur Between Spending and Taxes.” The author is Harvard Professor N. Gregory Mankiw.*...
Wednesday, October 27, 2010

Natural Resources and the Environment

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There is a fundamental fact about the world that has profound implications for the supply of natural resources and for the relationship betw...
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