In a ground-breaking piece of investigative reporting, the Washington Post laments the public’s growing dissatisfaction with our economy. Via Carpe Diem, Drew Carey hosts a piece called “Living Large: America’s Middle Class” for reason.tv.
Despite news outlets singing the sorrows of subprime and heralding a recession, we have never been better. Among all the negativity, I have yet to hear anyone suggest they would be better off living in 1905 or even 1995.
Watch the video and start living large. And then maybe you won’t believe all the negative junk you hear day in and day out in the papers and on the news.
Via Greg Mankiw, Steven Landsburg in the NY Times talks about the myth of protectionism. Interesting look at the moral side of the debate. Friedman often cited free trade as one concept that almost all economists–from Adam Smith on up–agree on. “Fair trade” makes for good marketing but doesn’t help those it intends to. It’s important to judge based on outcomes, not intentions.
Via Carpe Diem, “What a Difference a Century Makes.” It is amazing to see the progress that has been built on capitalism’s back. The negative connotation of “greed” doesn’t change the fact that progress is a by-product of self-interest. Reminds me of Rand in Atlas Shrugged:
So you think that money is the root of all evil? Have you ever asked what is the root of money? Money is a tool of exchange, which can’t exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears or of the looters, who take it from you by force. Money is made possible only by the men who produce. Is this what you consider evil?