What Capitalism Is

Many times on this blog, the criticisms of Piketty have been rebutted by columns and videos that show errors in his methodology, flaws in the data, and a simple misunderstanding of what capitalism is and does. This time, it is a big gun. George Reisman has destroyed the man by building the theoretical case of…



We Need Logic, Stat!

Studies can be designed to prove almost anything. Even if the result of a study is impossible given the finite nature of reality and the limits of logic (see “minimum wage increases cause growth in employment” studies), many will believe its results without reference to methodology, interpretation, statistical analysis, et cetera. A study can be…




The Christian ethic is positive. It does not consist in not doing things but in doing them. Jesus gave us the Golden Rule which bids us do to others as we would have them do to us. That rule exists in many writers of many creeds in its negative form. Hillel, one of the great…