Economics

The Three Little Pigs (Adjusted for Inflation)

By John Galt February 6, 2008 Once upon a time there were three little pigs. Each of the little pigs had their own ideas but two of them went to public schools where they were trained in Keynesian idealism while the third little pig won a scholarship to Hillsdale and learned the Austrian economic theory. The first little pig took one look at the other two and walked off muttering “you two are so ignorant! I’m taking advantage of my agricultural subsidies to build my house.” And with that he elected…


The Film Camera Dinosaur of the 21st Century: ATM’s

By John Galt November 8, 2007 Back in the 1990’s the digital camera became an affordable and more practical device with the introduction of higher quality printers, more powerful personal computers and users eager to get the latest technology without the inconveniences associated with film cameras. One company which dismissed the digital camera in it’s planning and marketing as a “fad” was Polaroid, formerly a leader in developing new camera technology. This dismissal was a fatal mistake that the company never recovered from and in 2001 they filed for bankruptcy protection…


Prepetorial #2: Casino Currency

By John Galt November 3, 2007 As my wife and I entered the flea market, we understood the risks we took that day. Shopping for goods outside of the “registered” stores had become a Class 1 Misdemeanor for a first offense and the worst part was that you would be forced to take chip implantation if convicted as part of your sentence. This tracking chip served as your rationing card, probation officer, and national identification all rolled into one. The conversion to the new currency was not going well as illustrated…


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