The hunting death of a lion sparked me to do some research on the economics of trophy hunting. You can still morally oppose trophy hunting (that’s your opinion), but there are objective economics of it. If the ultimate goal of conservation is to increase wildlife populations, then the trends of populations before and after trophy hunting are worth considering. My findings coincide with the economics of any valuable resource: for-profit privatization affects supply via a market price. (more…)
MISLEADING CLAIM: Capitalism is bad because all of these people die every year from poverty, vacant homes go unfilled while homeless are on the street, people starve while food is stockpiled, and households are submerged in debt.
REALITY: This bit of propaganda was posted by Occupy Wall St. As you can see, they’ve attributed annual deaths-by-capitalism to THREE TIMES the number of Jewish people killed in the Holocaust. All of these “statistics” are sourced according to the original post. Of course, their claims are “accurate” to the degree that they’re reported, but it’s easy to see how they’re misleading if you care to double check. Let’s take a closer look. (more…)
THE MISLEADING CLAIM: “The 13 states that raised their minimum wage at the beginning of 2014 saw employment increase by 45% more than the 37 states that didn’t raise their minimum wage.” (more…)
Bernie Sanders and Donald Trump have recently expressed the same views about immigration. Both of them are wrong for their own reasons, but they have articulated disingenuous economic rhetoric. Here are some misleading claims about immigrants that I have debunked in the past. (more…)
Economist Robert Reich, former labor secretary for President Clinton, recently posted a video called “Three Myths of the Economy”. In it, he attempts to debunk three “myths” about how our economy works, suggesting that acceptance of these myths leads to socio-economic injustice. Here are his claims and my rebuttals. (more…)
Misleading Claim: “An unhealthy hamburger costs $1, but a healthy salad costs $5. Greedy capitalists are making our kids fat!”
Reality: Producers do not sell goods at arbitrary prices based on profitability or the desire to make people fat. In fact, prices are carefully calculated by consumer value/demand and external factors, such as subsidies. We can debunk this claim with thought experiments and an analysis of the U.S. farm price support programs. (more…)
Household income trends are often cited as reason for “solutions” to income inequality. As a raw statistic, HHI is very misleading because it fails to account for individual behavior in any given economy. Let’s do a thought experiment to explain why, and then look at a more accurate measure of income distribution. (more…)
MISLEADING CLAIM: “In America, no one should have to work full time and live in poverty.”
REALITY: Not many people in poverty work full time. The United States does not have a major poverty problem.
MISLEADING CLAIM: “Nebraska ended their private utility model in favor of publicly owned. That’s why they now have extremely low cost electricity.” This claim was made in an article authored by the founder of US Uncut. It’s misleading for a few reasons. Let’s take a look with more in-depth analysis.