According to Wikipedia, the Economic Calculation Problem as coined by Austrian economist Von Mises states:
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[…] pricing systems in socialist economies were necessarily deficient because if a public entity owned all the means of production, no rational prices could be obtained for capital goods as they were merely internal transfers of goo
Paid for by the Government of Ontario is a multi-part series of articles detailing the rampant government intervention in the province of Ontario, Canada. The line is borrowed from the sign-off of government sponsored commercials that air on radio, television and other media. It reflects their in-your-face approach of using tax dollars against its own c… Read more
Scott Adams, author of Dilbert and self-proclaimed hypnotist, believes that persuasion is the dictating force in a world where facts don’t matter.
I largely believe he is right. However, I believe that psychology is what influences the short-term future. In the long term, the trend is dictated by facts and fundamentals.
We are talking about the tre… Read more
The widespread negative social ramifications of smart phones and social media gives way to the question: to regulate or not to regulate? Should we trust people with weaponized legislation to be moral arbiters?
The inven… Read more
Canadian policy is currently being dictated by emotion (or more accurately, postmodernism) and the lack of objective analysis in some of the new bills and laws being passed will have dire consequences in the future.
In Ontario, the decision by the Wynne Liberal government to raise minimum wage to $14 by 2018 (about a 30% increase) and $15 by 2019 was made desp… Read more
In my two previous articles There’s no use arguing BitCoin versus gold and When non-tech savvy people talk about BitCoin, is it a sign of a bubble at its peak? I asserted that BitCoin behaves like a commodity, like gold, and public psychology ultimately determines its value. If the public perceives it as worthless, its value will drop to zero.
A main t… Read more
What the article ignores is the quality of the jobs over the quantity of the jobs created, instead touting the jobs and employment numbers designed to obfuscate the real facts.
Here are some tidbits from the a… Read more
Climate change, carbon taxes, green energy, rebates. For a province and country so rich in natural resources, such that it has a large surplus to export to the northern United States, its own citizens are getting ripped off badly for using their own natural resources. The current government, with its entire arsenal of buzzwords to justify raking its c… Read more
Despite the Canadian Press reading more like opinion pieces than objective news nowadays, these two articles are objective enough, and when taken at face value, paint a picture of the government supposedly doing their job.