Seeking Liberty

Liberty is the Fruit from Which All Progress Grows

Basic Economics

With Apologies to Thomas Sowell


In observing the mass of articles, blogs, tweets and web postings, it has become clear why so many people do not understand why the Health Care legislation that the President signed into law today will harm our economy and increase health care prices. Explaining why it will harm our economy is futile without first illustrating how it raises health care costs and prices.

Economics is called the “Dismal Science.” I think this has less to do with predictions of Doom and Gloom, as many people claim, and more to do with Economist’s obsession with abstract ideas, like Utils (a unit of measurement for “utility,” an economic concept that can’t actually be measured). Indeed, until I learned to apply these abstract concepts to real-world situations, I was as lost as anyone who supported this bill.

Fortunately, Thomas Sowell wrote an engaging (for an economist, at least) book called Basic Economics: A Citizen’s Guide to the Economy, which anyone with an interest in understanding economics should read. It is a long book, so if you’d rather have something shorter and a bit more fun, check outCommon Sense Economics: What Everyone Should Know About Wealth and Poverty, by Gwartney, Stroup and Lee. Both books paint the picture of economics, but pull away from the abstract and focus more on the real-world.

Now class, time to explain the basics of why the Health Care Takeover will be certain to raise prices for health insurance and health care in the long run. Read the rest of this entry »

Filed under: economics, Government, insurance, , , ,

Immigration and education

Newsweek published an article awhile back.  It is a “perspective” article, more an essay, from the point of view of an illegal alien.

Oh, I’m sorry, did I not use the politically correct term “Undocumented,” as the article’s author did?  Please pardon me as I show no remorse over my lapse in progressive judgement.  Actually, don’t.  There’s nothing to pardon.

While well intentioned, I am certain, this article shows the complete disregard for the rule of law by illegal aliens and their children.”K. Gonzalez” writes that she is no longer able to attend the University of California at Berkeley due to a lack of funds, and laments in a roundabout way that her illegal status prevents her from accessing some forms of assistance.

Clearly, “K. Gonzalez” is a hard-working person.  She worked hard at her education and got grades good enough to get into Berkeley.  That’s wonderful.  What she hasn’t shown is any regard for the law.  She is an illegal alien.  Now, she was brought here by her parents when she was just an infant.  There are existing legal methods available to her where she could become a legal resident, even a citizen of the United States. Read the rest of this entry »

Filed under: economics, Government, immigration, , ,