Economics Archives

Critiquing Regulated Markets: Adam Smith Calls Out 2 Policies

What happens when the government meddles with the economy? What do regulated markets produce (or fail to produce)? The development of a nation’s wealth depends on competitive markets in which participants are free to act in their own self-interest. In The Wealth of Nations, Adam Smith identifies government policies that interfere with this process and slow down economic growth. We’ll explore two regulated market policies that Smith critiques: restricting international trade and subsidizing industries.

What Should the Government Spend Money On? 4 Priorities

What should the government spend money on? What should its priorities be and why? In The Wealth of Nations, Adam Smith discusses what he thinks are the best ways to grow a nation’s economy. Since growth is the goal, Smith opposes most public spending. He outlines two criteria for what he considers proper government expenditures. Only four things meet these criteria. Let’s take a look at what makes the cut and why.

Adam Smith’s Principles of Taxation: Tackling a Necessary Evil

How is ethical taxation achieved? How can taxes be less disruptive to the economy? In The Wealth of Nations, Adam Smith shares his general principles for how taxes ought to be collected and assessed. He also analyzes specific forms of taxation in light of his principles and explains how each tax is problematic in its own way. Let’s review Adam Smith’s principles of taxation and his analysis of three common tax policies.

5 Quotes From The Wealth of Nations: Adam Smith Speaks

According to Adam Smith, how are humans different from dogs? What’s the real price of something? How did Smith regard taxation? Adam Smith, an 18th-century Scottish philosopher, is widely considered one of the founding fathers of capitalism. Published in 1776, his book The Wealth of Nations makes the case for free markets and individual self-interest as the best ways to grow a nation’s economy. Continue reading for several quotes from The Wealth of Nations that give you a good idea of the book’s ideas.

How Does the Government Raise Money? Tax & Borrow

How does the government raise money? Are taxes necessary? From whom does the government borrow money? Before governments can spend money on defense, justice, education, or transportation infrastructure, the money needs to come from somewhere. In The Wealth of Nations, Adam Smith identifies two principal sources of revenue: taxation and borrowing. Continue reading to learn about these two methods of raising money.

Illuminati Goals & Methods: The New World Order Conspiracy

Who are the Illuminati? What do they want? How do they intend to get it? According to William Cooper, Illuminati operatives are everywhere, and they always have been. They’re getting all of their ducks in a row and will one day establish a global totalitarian socialist state—the New World Order. Continue reading to learn about the Illuminati’s goals and methods, according to Cooper.

Why Is the Price of Eggs Going Up & Is Collusion to Blame?

Why is the price of eggs going up? Why do some believe collusion is to blame? When will egg prices come down? The average price of eggs jumped 60% last year—one of the largest percentage increases of any food or service in the U.S. Some allege that the price of eggs is going up due to collusion between large egg producers taking advantage of Americans’ durable love of eggs to extract profits as high as 40%. Keep reading to learn why the price of eggs is going up and if we will see it go down in the near future.

Why Is Population Decline a Problem Across the Globe?

Why is population decline a problem in the U.S., China, Europe, and other global powers? What’s causing birth rates to fall? For the first time in 50 years, deaths in China outnumbered births. Experts argue that population decline is a problem in the U.S., Europe, and other wealthy nations, placing them on the same crash course as China if they don’t figure out a way to turn things around quickly. Read on to learn why population decline is a problem worldwide and if our population panic is warranted.

What Is the FairTax Act? How It Works & Main Critiques

What is the FairTax Act? How does it work? Will the FairTax Act be passed? A House Republican has introduced the FairTax Act of 2023, a bill that would replace the income tax and other taxes with a national sales tax. If the bill became law, Americans would no longer file tax returns—instead, they’d pay a 30% tax on their purchases. Read on to learn about what the FairTax Act is, the main critiques of the Act, and the likelihood of it being passed.

The Growing Threat of China: General McMaster’s Assessment

What’s China’s vision for the world? How is China’s economic warfare being played out? What’s the risk to the rest of the world? In Battlegrounds, General H. R. McMaster identifies five “hot spots”—points of conflict between the U.S. and other parts of the world. These are China, Russia, Afghanistan, the Middle East, and North Korea. Keep reading for McMaster’s assessment of the growing threat of China, including China’s economic warfare.