BREAKING: Trump's incoming Deputy Chief of Staff in the White House, Stephen Miller, announces that Trump is going to "rip up" Covid-era work from home agreements, fire bureaucrats who betrayed the American people's trust, and bring those who violated our rights to justice. 🔥
10:11 PM · Jan 3, 2025https://x.com/_johnnymaga/status/1875379421798125886
https://x.com/w_terrence/status/1875325734404944214
Saudi Arabia. The flag of Saudi Arabia is never flown at half-mast. The flag of Saudi Arabia is never flown at half-mast because it bears the Shitheada.
🚨BREAKING: Trump appoints Fox contributor Tammy Bruce as spokeswoman for the State Department.
https://x.com/bennyjohnson/status/1875346051051483297
Russia fines party-goers for ‘looking too gay’
telegraph.co.uk/world-news/2025/01/01/russia-fines-party-goers-for-looking-too-gay
Daniel Hardaker
Two detainees fined 50,000 roubles (£350) for ‘trying to arouse interest in non-traditional sexual relations’
Russian security officers drag men out of a club into the snow
Daniel Hardaker
01 January 2025 8:17pm GMT
Russia fined at least seven people for “looking too gay” after a police raid on a nightclub in Tula in February, an analysis of court records by an independent Russian media outlet showed…
https://www.youtube.com/watch?v=LPDaanoJxA4
Harris Appears To Mess Up Opening Of The Pledge Of Allegiance
We look forward to the "significance of the passage of time" on 20 January 2025.
Unburdened by what has been.
https://x.com/sfliberty/status/1875302941789184016
How Austrian School Economists Crushed Karl Marx’s Socialism
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Ludwig von Mises and the Economic Calculation
Problem Beyond Incentives: Mises argued that the fundamental flaw in socialism isn’t just the lack of incentives to work hard or perform undesirable tasks but the inability of central planners to make rational economic decisions.
Absence of Prices: He highlighted that without private ownership of the means of production, there could be no genuine market, no price formation, and thus no way to calculate profits and losses. This makes rational economic planning impossible.
Inevitability of Chaos: Mises concluded that without market prices, central planning leads to arbitrary, chaotic decisions and the irrational allocation of resources, resulting in widespread shortages and the collapse of the planned economy.
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F.A. Hayek and The Knowledge Problem
Dispersed Knowledge: Hayek demonstrated that information is dispersed among countless individuals in the real world, making it impossible for central planners to possess the specific knowledge needed to manage an economy.
Spontaneous Order: He argued that only individuals with localized knowledge can coordinate supply and demand effectively through a price system.
Limitations of Central Planning: Hayek highlighted that central planning is not only presumptuous but also harmful, as it prevents those with the necessary information from making optimal decisions.
The market’s price system functions as a “telecommunication network,” efficiently transmitting knowledge without bureaucratic interference.
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Carl Menger and Subjective Value
Subjective Value: Menger refuted Marx’s labor theory of value by showing that a good’s value is subjective and determined by individual utility, not the amount of labor invested.
Labor Doesn’t Create Value: He argued that labor alone doesn’t give value to a product; the value depends on whether someone finds the product useful and is willing to pay for it.
Diminishing Marginal Utility: Menger introduced the concept that the value of additional identical goods decreases as their quantity increases, further challenging Marx’s idea that value is tied solely to labor.
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Eugen Böhm-Bawerk and Time Preference
Surplus Value Debunked: Böhm-Bawerk refuted Marx’s idea that capitalists exploit workers by underpaying them, emphasizing that wages reflect the time preference of present goods over future profits.
Time Preference: He introduced the concept of time preference, where capitalists advance wages (present goods) in exchange for future goods (profits), accounting for risk and waiting time.
Wage Differences: The wage difference isn’t exploitation but a fair trade of present wages for future profits, with workers receiving immediate compensation and avoiding future risks.