Are some Americans poor? Think on this....

Imagine if the poorest person in India met the poorest person in America. Think (and think hard) about what they each would think of one another. Capitalism really does make a difference.

Arguing with nature,

I have a thought for you all. Did you ever notice that when someone jumps off a building, nobody complains about the law of gravity. But when a natural disaster (or anything else) affects price changes, people often complain about the law of supply and demand.

A deeper understanding,

Some people today misunderstand how important freedom is to a healthy economy. Such people believe that it would be a good idea if jobs stayed within the borders of a given country and not be outsourced to another country. Many Americans see outsourcing of jobs as hurting the American economy. Hear me loud and clear: there is no Canadian economy, American economy, European economy etc. At least not in the form that most people imagine. Ask yourself the following question: How many of the products you use daily are made within the country you live in?

The behavior of prices,

I recently bought a very good office chair at a yard sale for five dollars. The same chair would cost a lot more at a retail store, does that mean that the retail store is gouging its customers on the price of office chairs?

We'll miss you Mr. Friedman,

At age 94 the father of sound economic teachings has died. Milton Friedman is his name and he passed away today; we shall all miss him. If you like this blog I encourage you to scan the internet for articles written by Mr. Friedman. You will no doubt learn a lot.

Economics is lacking in important places,

I personally like Tim Russert, but he should brush up on his economics. Take a look at this video to see what i mean.

Educating the masses,

Many people who understand simple rules during a sports event, can't understand the same rules when it comes to economics. The people who immediately call for government to lower gas prices as soon as the economy takes a dip, wouldn't immediately place a player on the bench for striking out one time during the World Series.