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Category Archives: Crime

In a previous post, I suggested that what we call sweatshops are factories where workers are not treated well, but that these sweatshops offer workers a better life than they had, otherwise the workers would not agree to work there.  The pay in these factories, while quite low compared to U.S. and advanced economies’ pay […]

This guest post was written by my long-time friend, college classmate, and co-author, Gary Pecquet, an associate professor of economics at Central Michigan University. Today, June 5th is celebrated as Adam Smith’s birthday.  In just nine years Adam Smith’s 300th will be celebrated. Not many thinkers have had the impact on the world as he over […]

The shortages in Venezuela, as I have discussed in previous posts, are due to price ceilings which suppress the quantity offered on the market while encouraging extra consumption. Low prices also encourage exports of those price controlled items and discourage imports.  As a result, people in Venezuela are continuously frustrated in their basic attempts to buy […]

It looks like the grocery and basic goods shortage hitting Venezuela has gone to the next obvious step, rationing cards and blaming the rich for hoarding–and arbitrage with Colombia.  A regular reader of this blog will note that I have pointed out the troubles in Venezuela and their price controls on many other occasions.  for […]

On CBS’s Money Watch, Jonather Berr reports here that cigarette smuggling in New York is the highest in the country, with over half (estimated to be 56.9%) of cigarettes sold in the state are illegally smuggled there, according to this report by the Tax Foundation.  The Tax Foundation report is based on a study by […]

In March, I wrote this entry to Bastiat’s Bastions in response to Jindal’s proposal to hike state cigarette taxes.  My critique was not so about raising tobacco taxes or not, but suggesting that the Louisiana Department of Revenue had done a poor job in estimating the effects of such taxes on state revenues, as I […]

Matt Damon has proven over and over to be a talented actor and screenwriter.  In December, he will be coming out with a pro-environmental movie about fracking to extract natural gas and petroleum from certain rock structures, a movie titled Promised Land.  No doubt, Matt Damon is an environmentalist–he believes in this new project. A […]

One of my facebook friends, Will Harvard, a very bright recent graduate of Columbus State University, in Georgia, just posted as his status this quote from a web pamphlet, Speaking out against drug legalization (p. 9) on the DEA’s website at: http://www.justice.gov/dea/demand/speak_out_101210.pdf One favorite argument of those who claim prohibition didn’t work point to the […]

Last January, I wrote in this post about how Mubarak’s hold on Egypt was lost, in part, due to food riots, riots over the rising prices of food.  The problem was that the government in Egypt, to placate its citizens, had created programs to keep food prices down, at least to some, creating “program addiction,” a […]

While a bit late for celebrating Martin Luther King’s Birthday, though it is still Monday by my clock, here is a short article by my graduate school mate, Randy Holcombe, of Florida State.  During the war in Iraq and the war in Afghanistan, some thoughtful observers noted that African Americans paid a disproportionate  price in […]

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