Economics in a Nutshell
The Political Destruction of Free Enterprise
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Many political lies bury rational economic thought today. Economies do not overheat. Progressive taxes on market set income are largely passed to consumers (by an increasing demand to supply ratio). Social security taxes are not shared by employers (corporate costs are forwarded to the market). Labor unions gain buying power by pushing minimum wage labor down (the national wage is finite). And monopolies always require political support. This information, while absolutely true, is not government approved. A natural economy is superbly controlled by supply and demand. But career seeking politic...
Many political lies bury rational economic thought today. Economies do not overheat. Progressive taxes on market set income are largely passed to consumers (by an increasing demand to supply ratio). Social security taxes are not shared by employers (corporate costs are forwarded to the market). Labor unions gain buying power by pushing minimum wage labor down (the national wage is finite). And monopolies always require political support. This information, while absolutely true, is not government approved. A natural economy is superbly controlled by supply and demand. But career seeking politicians dither with the money supply and create inflation, stagflation, wage gaps, recession, and depression in their gross economic ignorance and self centered pursuit of political careers. The author explains the economic interactions between private enterprise and political force. The political solution is a return to Laissez Faire. But can politicians arrive at economic truths in the aftermath of a politically initiated economic disaster? The depression Congress could not. And the new Congress is their clone.
