Richard Wolff Debunked: Market Solutions, Climate Change, and Child Labor

Dr. Richard Wolff posted a short clip as part of his Economic Update (EU) on the channel Democracy at Work. In it, Wolff argues that market solutions cannot address the dire issues of climate change and global warming. He cites the necessity of government abolishing child labor as evidence for this. Per the usual, Dr. Wolff’s claims are both economically illiterate and historically inaccurate.

Hashtags: #ClimateChange #CarbonTAX #ClimateActionNow #Capitalism #Government #ChildLabour

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Citations/Source Material:

Gleckman, H. (2018, October 10). Bill Nordhaus, The Nobel Prize, Climate Change And Carbon Taxes. Retrieved April 11, 2019, from https://www.forbes.com/sites/howardgleckman/2018/10/10/bill-nordhaus-the-nobel-prize-climate-change-and-carbon-taxes/

Nobel Prize Economist William Nordhaus Has a Solution for Climate Change at the Yale Alumni in Energy Conference 2019 | Markets Insider. (2019, April 10). Retrieved April 11, 2019, from https://markets.businessinsider.com/news/stocks/nobel-prize-economist-william-nordhaus-has-a-solution-for-climate-change-at-the-yale-alumni-in-energy-conference-2019-1028100001

Murphy, R. P. (2019, February 1). The Economic Argument for a Carbon Tax Is a Work of Fiction | Robert P. Murphy. Retrieved April 11, 2019, from https://mises.org/wire/economic-argument-carbon-tax-work-fiction

Economic Freedom Graphs: https://www.flickr.com/photos/shanedk/sets/72157646459874723/

Tucker, J. A. (2008, January 22). The Trouble With Child Labor Laws | Jeffrey A. Tucker. Retrieved April 11, 2019, from https://mises.org/library/trouble-child-labor-laws

DeGregori, T. R. (2002, October 08). Child Labor or Child Prostitution? Retrieved April 11, 2019, from https://www.cato.org/publications/commentary/child-labor-or-child-prostitution

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Adam Schiff, The Mueller Report, and The Ultimate Ad Hoc Rescue

At long last the bombshell report is finally here! Robert Mueller has concluded his investigation into whether or not the Trump Campaign colluded with the Russian government to steal the election, and much to the dismay of the mainstream media, it didn’t! However, that hasn’t stopped Democratic Representative Adam Schiff and others from claiming that future evidence will certainly show that Trump is guilty. This whole ordeal is a perfect example of the Ad Hoc Rescue Fallacy.

Hashtags: #MuellerReport #OrangeManBad #AdamSchitt #MuellersReport #Mueller #AdamSchiffResign #TrumpRussia #Mueller #Trump #TrumpTrain #TrumpTrain2020 #FakeNews #FakeNewsMedia

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Citations/Source Material:

The Ad Hoc Rescue Fallacy: https://www.logicallyfallacious.com/tools/lp/Bo/LogicalFallacies/8/Ad-Hoc-Rescue

Rep. Adam Schiff doubles down on Trump guilt claims after Mueller probe: ‘Undoubtedly there is collusion’: https://www.foxnews.com/politics/rep-adam-schiff-doubles-down-on-trumps-guilt-after-mueller-probe-undoubtedly-there-is-collusion

Attorney General William Barr’s Letter on the Mueller Report: https://www.nytimes.com/interactive/2019/03/24/us/politics/barr-letter-mueller-report.html

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Why Andrew Yang’s Economics Fail

Democratic Presidential Candidate Andrew Yang has been rising in popularity lately, particularly due to his support of a Universal Basic Income (UBI)/Freedom Dividend and a Value Added Tax (VAT). On February 12th, 2019, Yang appeared on the Joe Rogan Experience Podcast to explain his policy views. In this video, I debunk the Keynesian assumptions within Yang’s policies and demonstrate why his proposals cannot improve the economy in the long term.

Hashtags: #YangGang2020 #Yang2020 #FreedomDividend #AndrewYang #politics #government #UBI #VAT

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Original Video:

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Citations/Source Material:

Chen, S. A. (2014, October 29). Five Jobs That Transformed America. Retrieved March 20, 2019, from https://blogs.ancestry.com/cm/five-jobs-that-transformed-america/

Farm Population Lowest Since 1850’s. (1988, July 20). Retrieved March 20, 2019, from https://www.nytimes.com/1988/07/20/us/farm-population-lowest-since-1850-s.html

Hazlitt, H. (2017, June 12). Government Guaranteed Income is Not a Solution. Retrieved March 20, 2019, from https://mises.org/wire/government-guaranteed-income-not-solution

Why Alaska’s Experience Shows Promise for Universal Basic Income. (2018, May 10). Retrieved March 20, 2019, from http://knowledge.wharton.upenn.edu/article/alaskas-experience-shows-promise-universal-basic-income/

De Rugy, V. (2012, June 04). Hauser’s Law: This Reality Isn’t Negotiable. Retrieved March 20, 2019, from https://www.nationalreview.com/corner/hausers-law-reality-isnt-negotiable-veronique-de-rugy/

Sowell, T. (2014). Basic Economics. New York: Basic Books.

Gramlich, J. (2018, May 02). U.S. incarceration rate is at its lowest in 20 years. Retrieved March 20, 2019, from https://www.pewresearch.org/fact-tank/2018/05/02/americas-incarceration-rate-is-at-a-two-decade-low/

What is Universal Basic Income? (2019). Retrieved March 20, 2019, from https://www.yang2020.com/what-is-ubi/

Nikiforos, M., Steinbaum, M., & Zezza, G. (2017, August). Modeling the Macroeconomic Effects of a Universal Basic Income. Roosevelt Institute. Retrieved March 20, 2019, from http://rooseveltinstitute.org/wp-content/uploads/2017/08/Modeling-the-Macroeconomic-Effects-of-a-Universal-Basic-Income.pdf

Mani, A., Mullainathan, S., Shafir, E., & Zhao, J. (2013, August 30). Poverty Impedes Cognitive Function. Retrieved March 20, 2019, from http://science.sciencemag.org/content/341/6149/976.abstract

Rothbard, M. N. (2010, April 22). The Value-Added Tax Is Not the Answer. Retrieved March 20, 2019, from https://mises.org/library/value-added-tax-not-answer

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Alexandria Ocasio-Cortez (AOC) and the New Spectrum of Privilege

Marxists have long trotted out the bourgeoisie/proletariat dichotomy as an explanation of how everyone is part of a class conflict as old as history. However, when the poor didn’t rise up and overthrow the capitalist class as Marx predicted, they had to retool their ideology.

Alexandria Ocasio-Cortez recently went on The Intercept and explained how the new spectrum of privilege has replaced Marx’s original explanation for the modern socialist. However, the ideology remains as false and designed to manipulate fear as ever. Myself and Nightshift10000 debunk her yet again.

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Citations/Source Material:

Karl Marx and Frederick Engels The Communist Manifesto: https://www.marxists.org/archive/marx/works/download/pdf/Manifesto.pdf

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What is “Privatization” and Should We Privatize Schools?

The YouTube channel Knowing Better recently released a video called “Privatizing Public Services | Prisons and Schools.” The video argued that public services should privatized, in particular, by showing that charter schools are under performing compared to public schools. However, the relevant question is, what does it really mean to privatize something, and does the government contracting an otherwise private business constitute privatization? I content that the answer is no.

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Citations/Source Material:

Blumenfeld, S. L., & Newman, A. (2015). Crimes of the Educators. Washington, D.C.: WND Books.

Braun, H., Jenkins, F., & Grigg, W. (2006, July). Comparing Private Schools and Public Schools Using Hierarchical Linear Modeling. Retrieved March 6, 2019, from https://nces.ed.gov/nationsreportcard/pubs/studies/2006461.asp

McMaken, R. (2017, August 09). The Plan to “Privatize” the Afghanistan War Doesn’t Privatize Anything. Retrieved March 6, 2019, from https://mises.org/wire/plan-privatize-afghanistan-war-doesnt-privatize-anything

Rockwell, L. H., Jr. (2004, October 06). Government Contractors versus Real Business | Llewellyn H. Rockwell Jr. Retrieved March 6, 2019, from https://mises.org/library/government-contractors-versus-real-business

Council for American Private Education – Private School Facts. (2019). Retrieved March 6, 2019, from http://www.capenet.org/facts.html

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Riley Dennis Fails on Universal Basic Income (UBI)

I’ve debunked Universal Basic Income (UBI) in the past. However, when Hey Dude77 pointed out that Riley Dennis had come to its defense, I couldn’t resist the urge to debunk it again.

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Citations/Source Material:

Freedman, D. H. (2016). Basic Income: A Sellout of the American Dream. MIT Technology Review. 119(4), 48-53.

Schneider, H. (2017). Universal Basic Income—Empty Dreams of Paradise. Intereconomics/Review of European Economic Policy, 52(2), 83-87.

Sowell, T. (2014). Basic Economics. New York: Basic Books.

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The Truth about Amazon HQ2 and New York

Everyone is talking about the #AmazonHQ2 situation. Should New York be offering tax incentives to Amazon? Should Amazon have chosen not to go forward with the deal? In this video, we discuss basic economics and demonstrate yet again that the problems with this deal begin and end with the government.

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Citations/Source Material:

Balfour, B. (2018, March 13). Politicians Are Rushing to Ink Cronyist Deal with Amazon | Brian Balfour. Retrieved February 12, 2019, from https://mises.org/wire/politicians-are-rushing-ink-cronyist-deal-amazon

McMaken, R. (2018, November 16). Why Politicians Love the Amazon Deal | Ryan McMaken. Retrieved February 12, 2019, from https://mises.org/wire/why-politicians-love-amazon-deal

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Anarcho-Capitalists VS. Sovereign Citizens (Patron Request)

At the request of one of my Over Achiever Tier Patrons, this video examines the Sovereign Citizen Movement and how their ideology compares to Anarcho-Capitalism. While sovereign citizens are correct in their assessment that the state is inherently illegitimate, their efforts to assert their sovereignty through legal loopholes and appeals to the founding documents of the United States are unlikely to effect real change in the long run.

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The Sovereign Citizen Movement. (2010, April 13). Retrieved February 12, 2019, from https://archives.fbi.gov/archives/news/stories/2010/april/sovereigncitizens_041310/domestic-terrorism-the-sovereign-citizen-movement

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Time is Wealth: What is it Really Worth?

The popular saying is, “Time is money.” However, fundamentally, real wealth is your time and the different things that can be done with it. This is a crucial point to understand in discussions about what people’s labor and products are “really worth.”

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Sowell, T. (2014). Basic Economics. New York: Basic Books.
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2 Day with 2 Cents (Feb 2, 2019)

On this week’s episode, we’ll be discussing Virginia Delegate Kathy Tran’s abortion bill, Kamala Harris and Cory Booker’s bids for the 2020 Presidential run, Howard Schultz challenge to the Democratic party, and more.

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