Every day the news is full of reports on the refugee crisis as hundreds of thousands of people flee their homes and attempt to reach Europe. Countries such as Hungary are building barriers to stop them and scenes of police holding back refugees fill the news. There are scores of desperate people risking their lives to cross the Mediterranean in rickety rafts. 3,573 have died trying to cross the sea in the last year, roughly ten people per day. Most people are confused about the crisis and what it means, so hopefully this will shed some light on the issue and answer some common questions. Continue reading “Understanding The Refugee Crisis”
There is no such thing as a free lunch . . . except for free trade which makes everyone everywhere better off
It is naive and foolish to imagine there is some magic pot of gold which will make us all magically richer . . . but competition magically makes everyone richer
As Adam Smith said, the “invisible hand” of the free market ensures everyone is best off . . . even though Smith never said that about the market but rather about protectionism.
We should never rely on one-size-fits-all solutions that don’t take account of the specifics of each case . . . and cut taxes in response to every problem
The government makes everything worse . . . which is why countries like Somalia which have no government are so much better off Continue reading “Conservative Logic”
It is common to hear people groaning about how immigrants are supposedly abusing our welfare system. There are numerous anecdotes (but never actual facts) involving immigrants being put ahead of natives. Allegedly, hordes of undeserving lazy foreigners are robbing us blind while the government stands idly by. None of this is supported by the evidence. In truth, study after study has found that do not harm the local economy but rather benefit it. There are twice as many natives (as a percentage) on welfare in Ireland as immigrants. Continue reading “Immigrants And The Welfare State”
It is common to hear people complain about immigrants taking the jobs of locals. The logic behind this is simple; if an immigrant has a job then that is one less job for a local. It is therefore deduced that a large influx of immigrants would be disastrous, leading to mass unemployment and a decline in the standard of living. However this is not supported by the evidence. There are several examples of huge numbers of immigrants entering a country within a short period of time, yet the economy does not collapse. Continue reading “Immigrants Don’t Steal Our Jobs”
Sometimes just talking about politics and economics can be a bit dry so here’s some good cartoons to lighten it up a bit while still making a good point.
More or less sums up how stock markets work.