Prager U just put out an advertisement that said: Why is capitalism so often criticized, yet so rarely explained clearly?If free markets have shaped so much of modern life, shouldn’t we understand how they actually work? Let me explain the contradictions here. The word “capitalism” wasn’t coined until about the mid 19th century. That would mean that our true establishment by guys like Jefferson, Franklin, Washington, Adams, Madison, Hamilton, etc., had little to no concept of

Many of us have been complaining for the last year or more about the high price of food, fuel, and housing prices, if you are buying. There are many fingers being pointed by the media. The universities would have us think that prices are a simple problem, i.e., Price = Demand/Supply...or at least they did 40 years ago when inflation was setting out on a new voyage. In the economic laboratory it could be that simple. But in the “real world,” or at least the world we currently

We’d like to acknowledge the summary by Clearly Finance who provided much of the content of this article that supplements the video which can be found at this link. https://youtu.be/qXHy4ZefO8c?si=ErDMWJrMddD_3Qcd (CL) If given the choice, how many Americans would choose to have their retirement accounts, their social security benefits, their welfare benefits, and even their salaries reduced every year in favor of more government spending through monetary inflation? Let’s

Figure 1 Hydrotherapy for an arthritis patient, who is being fed water through a hose in the belief that the water would push the poisons from his system, 1846. Figure 2 Ben Bernanke implementing “quantitative easing” by the Federal Reserve. An article about bygone medical methods said “the annals of medical history are filled with some bizarre treatments. They range from the infamous, like leeches and bloodletting, to the obscure.” If we use history to assess our world, our