Yes Gravel Institute, Capitalism IS Freedom

Fordham Law School Professor Zephyr Teachout has released a video for The Gravel Institute titled, “Capitalism vs. Freedom.” In it, she argues that capitalism results in ruthless monopolies that mercilessly dictate the lives of every person within the economy. However, like every other critic of capitalism, she conflates voluntary transactions in the free market with government regulations, then advocates greater power for government to fix the problems that the government caused.

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Hashtags: #TheGravelInstitute #ZephyrTeachout #Capitalism #FreeMarket #Economics #Government #Politics #GravelInstitute

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References:

Agarwal, R. (2018, November 15). Why Amazon Runs Toward Government With HQ2. Retrieved October 25, 2020, from https://www.forbes.com/sites/washingtonbytes/2018/11/15/why-amazon-runs-toward-government-with-hq2/

Apply for licenses and permits. (n.d.). Retrieved October 25, 2020, from https://www.sba.gov/business-guide/launch-your-business/apply-licenses-permits

Chappelow, J. (2020, September 16). Capitalism. Retrieved October 25, 2020, from https://www.investopedia.com/terms/c/capitalism.asp

Dilorenzo, T. J. (1996). The myth of natural monopoly. The Review of Austrian Economics, 9(2), 43-58. doi:10.1007/bf01103329

Dunkelberg, W. (2017, April 04). The Insidious Cost Of Regulation. Retrieved October 25, 2020, from https://www.forbes.com/sites/williamdunkelberg/2017/04/04/the-insidious-cost-of-regulation/

Edward Snowden: Leaks that exposed US spy programme. (2014, January 17). Retrieved October 25, 2020, from https://www.bbc.com/news/world-us-canada-23123964

Federal Laws Prohibiting Job Discrimination Questions And Answers. (2009, November 21). Retrieved October 25, 2020, from https://www.eeoc.gov/fact-sheet/federal-laws-prohibiting-job-discrimination-questions-and-answers

Foulkes, A. (2005, May 17). In Defense of Employment-at-Will. Retrieved October 25, 2020, from https://mises.org/library/defense-employment-will

Legrain, M. (2018, November 26). Revealed: Restricting breaks keeps poultry industry workers living in fear. Retrieved October 25, 2020, from https://www.theguardian.com/food/2018/nov/26/revealed-restricting-breaks-keeps-poultry-industry-workers-living-in-fear

Merriam-Webster. (n.d.). Freedom. In Merriam-Webster.com dictionary. Retrieved October 25, 2020, from https://www.merriam-webster.com/dictionary/freedom

Moseley, G. B. (2008). The U.S. Health Care Non-System, 1908-2008. AMA Journal of Ethics, 10(5), 324–331. doi: 10.1001/virtualmentor.2008.10.5.mhst1-0805

Tucker, J. A. (2008, January 07). How Free Is the “Free Market”? Retrieved October 25, 2020, from https://mises.org/library/how-free-free-market

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Why Universal Basic Income (UBI) Can’t Make Us Wealthier

In light of the current worldwide crisis and record levels of unemployment, many people are again talking about universal basic income or UBI. According to WIRED UK, a universal basic income would give people a greater sense of freedom and allow them to engage in activities that are of greater value to the community. However, this is easily disproved when you consider that one’s willingness to pay for an activity voluntarily is what determines how much value that activity has.

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References

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

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Idiots Lose Their Minds Over Price Gouging

Every time a disaster like #COVID19 rears its head, politicians and pundits come out of the woodwork to condemn “price gouging.” But what is #PriceGouging? What causes it, and does #Government make it better or worse with regulations?

Hashtags: #Economics #Coronavirus #Disaster #Rationing #FreeMarket #ToiletPaper

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References

Sampson, H. (2020, March 12). Travel prices are dropping almost everywhere as coronavirus fears take over. Retrieved from https://www.washingtonpost.com/travel/2020/03/12/travel-prices-are-dropping-almost-everywhere-coronvavirus-fears-take-over/.

Savodnik, P. (2020, March 19). Can movie theaters survive coronavirus? Retrieved from https://www.vanityfair.com/hollywood/2020/03/can-movie-theaters-survive-coronavirus.

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

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The FED’s Stimulus Won’t Solve Production Problems (2 Day with 2 Cents Podcast)

With interest rates cut to zero, the Federal Reserve promises unlimited liquidity and Congress deliberates on a so-called “Economic Recovery Package.” However, no amount of money printed out of thin air can resolve the underlying problem which is lack of production. This problem has only been exacerbated by bringing the entire economy to a halt in an effort to stop the spread of the coronavirus (COVID-19).

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Hashtags: #FederalReserve #StimulusPackage2020 #COVID19 #StockMarketCrash2020 #EconomicCrisis #EconomicMeasures #EconomicCollapse

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References

Krambeck, G. (2020, March 22). MARK-TO-MARKET: Trump, Federal Reserve tackle economic stimulus. Retrieved from https://qconline.com/business/mark-to-market-trump-federal-reserve-tackle-economic-stimulus/article_84592a90-e13e-5dd1-a576-f4193e8a28d0.html

Stein, J., Werner, E., & DeBonis, M. (2020, March 19). Negotiations intensify on Capitol Hill over massive stimulus legislation as coronavirus fallout worsens. Retrieved from https://www.washingtonpost.com/business/2020/03/18/trump-coronavirus-economic-plan/

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The “Real Deal” with Medicare for All DEBUNKED

Robert Reich, progressive economist of Inequality Media, has set out to lecture Americans about the “Real Deal” with Medicare for All. In this video, I join forces with @Shane Killian to debunk these talking points once and for all.

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Hashtags: #MedicareForAll #UniversalHealthcare #RobertReich #InequalityMedia #Economics

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How to Argue for Universal Healthcare:

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References

Bernpainter, K. (2013, July 8). The Truth About SwedenCare: Klaus Bernpaintner. Retrieved from https://mises.org/library/truth-about-swedencare

Bingham, J. (2015, October 29). ‘Shocking’ end of life care in NHS boosting support for assisted suicide – MPs. Retrieved from https://www.telegraph.co.uk/news/politics/11961554/Shocking-end-of-life-care-in-NHS-boosting-support-for-assisted-suicide-MPs.html

Gary, G. (2018, November 2). Infant Mortality Is a Misleading Statistic for International Comparisons. Retrieved from https://mises.org/wire/infant-mortality-misleading-statistic-international-comparisons

Health Care System Performance Rankings. (2017, July 13). Retrieved from https://www.commonwealthfund.org/chart/2017/health-care-system-performance-rankings

Long waits for surgery ‘have tripled in four years’. (2017, June 2). Retrieved from https://www.bbc.com/news/health-40122075

Moseley, G. B. (2008). The U.S. Health Care Non-System, 1908-2008. AMA Journal of Ethics, 10(5), 324–331. doi: 10.1001/virtualmentor.2008.10.5.mhst1-0805

Niemietz, K. (2014, October 30). Health Check: The NHS and Market Reforms. Retrieved from https://iea.org.uk/publications/research/health-check-the-nhs-and-market-reforms

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Biden’s Upcoming Economic Narrative (2 Day with 2 Cents Podcast)

 

In this edition of the 2 Day with 2 Cents podcast, I discuss Joe Biden’s ascendancy as the Democratic Party’s front runner for 2020 in light of the stock market’s tumbling as the coronavirus continues to spread worldwide. Many right-wing commentators are saying that a Biden presidency isn’t nearly as much of a threat as a Sanders presidency, but I have my doubts.

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References

Fitzgerald, M. (2020, February 28). Global stock markets have lost $6 trillion in value in six days. Retrieved from https://www.cnbc.com/2020/02/28/global-stock-markets-have-lost-6-trillion-in-value-in-six-days.html

Haberman, M., & Karni, A. (2020, March 4). The Coronavirus. The Stock Market. Now Biden’s Comeback Adds to Trump’s Bad Week. Retrieved from https://www.nytimes.com/2020/03/04/us/politics/trump-coronavirus-stock-market-biden.html

Rob, G. (2020, March 5). Fed expected to continue cutting interest rates, beginning as soon as later this month. Retrieved from https://www.marketwatch.com/story/fed-expected-to-continue-cutting-interest-rates-beginning-as-soon-as-later-this-month-2020-03-05

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The ONLY Way to Improve the Economy

Hashtags: #Economics #Election2020 #CampaignAds

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The Coronavirus and the Austrian Business Cycle (2 Day with 2 Cents Podcast)

The #CoronavirusOutbreak has been sensationalized across the media. With entire regions of China shutdown, global markets are preparing for widespread downturn. However, it occurs to me that this supposed epidemic has come about at a time that the U.S. Government and Federal Reserve might have motive to create global uncertainty. Listen to my thoughts on this new edition of the 2 Day with 2 Cents Podcast!

Hashtags: #AustrianBusinessCycle #2DayWith2Cents #CurrentEvents #Coronavirus #Economics

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References

2019 Novel Coronavirus (2019-nCoV) Situation Summary. (2020, January 31). Retrieved from https://www.cdc.gov/coronavirus/2019-nCoV/summary.html#risk-assessment

Daurat, C. (2020, January 31). The Coronavirus Is Infecting the Global Economy. Here’s How. Retrieved from https://www.bloomberg.com/news/articles/2020-01-31/the-global-economy-is-getting-infected-by-the-virus

Foster, S. (2020, January 31). The Repo Market, Explained – And Why The Fed Is Pumping Billions Into It. Retrieved from https://www.bankrate.com/banking/federal-reserve/why-the-fed-pumps-billions-into-repo-market/

Mendell, E. (2020, January 30). Coronavirus Triggers Damage Control From Governments, Companies. Retrieved from https://www.wsj.com/articles/coronavirus-triggers-damage-control-from-governments-companies-11580396657

Smith-Schoenwalder, C. (2020, January 30). Why the Flu Is Still a Bigger Threat to Americans Than Coronavirus. Retrieved from https://www.usnews.com/news/health-news/articles/2020-01-30/why-the-flu-is-a-bigger-threat-to-the-us-than-coronavirus

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What Does it Really Take to Start and Run a Business?

At the MLK Now 2020 event, Ta-Nehisi Coates and Alexandria Ocasio-Cortez had a conversation in which #AOC claimed that, “No one makes a billion dollars. You take a billion dollars.” The obvious implication to her statement is that business leadership doesn’t actually contribute anything of value to a business. However, does this assertion hold true when one considers exactly what it takes to start and subsequently run a business?

Hashtags: #Business #Billionaires

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References

10 steps to start your business. (n.d.). Retrieved from https://www.sba.gov/business-guide/10-steps-start-your-business/

Deane, M. T. (2019, June 25). Top 6 Reasons New Businesses Fail. Retrieved from https://www.investopedia.com/financial-edge/1010/top-6-reasons-new-businesses-fail.aspx

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Does Dave Cullen Understand the Free Market?

Dave Cullen, of the YouTube channel Computing Forever, recently published a video titled “Start Your Own Planet!” In it, it appears that Dave is seeking to prove that the free market is insufficient to protect us from private monopolies that may one day leave us destitute and unable to obtain the necessities of life. However, like all those that speak out against private monopolies, Dave has neglected the fact that these monopolies only have the power they do because of government in the first place. Giving more power to government can only make the problem worse.

Hashtags: #FreeMarkets #DaveCullen #ComputingForever #Monopolies #SocialMedia #Censorship #Banks #Government

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References

ABA Pushes Back on White House Claims about Reg Burden. (2019, May 14). Retrieved from https://bankingjournal.aba.com/2016/08/aba-pushes-back-on-white-house-claims-about-reg-burden/

Bajpai, P. (2019, December 4). Countries Where Bitcoin Is Legal & Illegal (DISH, OTSK). Retrieved from https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp

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