The miser is roundly condemned and blamed for unemployment, changes in the business cycle, and economic depressions and recessions. Far from being harmful to society, the miser is a benefactor, increasing our buying power each time he engages in hoarding.
Source: Defending the Miser | Mises Institute
How does this argument play out in a recession or other poor economic environment suffering from an excessive underutilization of labor?
In recent court filings, the Food and Drug Administration has asserted that stem cells—you know, the ones our bodies produce naturally—are in fact drugs and subject to its regulatory oversight.
Funny, that sounds less like the FDA protecting the health of the country’s citizens and more like the FDA defending its enforcement turf.
Building Apple’s iPhone in the United States would demand much more than hiring Americans — it would require transforming the national and global economies.
What remains unknown, however, is whether the United States will be able to leverage tomorrow’s innovations into millions of jobs.
In the last decade, technological leaps in solar and wind energy, semiconductor fabrication and display technologies have created thousands of jobs. But while many of those industries started in America, much of the employment has occurred abroad. Companies have closed major facilities in the United States to reopen in China. By way of explanation, executives say they are competing with Apple for shareholders. If they cannot rival Apple’s growth and profit margins, they won’t survive.
Source: Apple, America and a Squeezed Middle Class – The New York Times
Apple is under fire for its supply chain labor, but every tech item—and thing you own—goes through the same manufacturing paces.
Source: Apple’s supply chain flap: It’s really about us | ZDNet
Is this a self-reinforcing problem? Average Americans demand cheap products because their real wages do not rise and their real wages do not rise because corporations move jobs overseas in search of lower costs in order to provide the cheap products demanded by the American consumer?
Virginia’s hypocrisy on gun rights versus abortion rights
This doesn’t paint a very flattering picture of the citizens the lawmakers represent. But the picture it paints of the legislators themselves should be downright embarrassing.