$10,000 Economics Challenge Blog

The Perils of the Minimum Wage

Minimum wage laws are the most anti-employment legislation a government can create. The labour market, supply of and demand for labour, will determine the proper wage for entry level employment. But that is never...

Deficits are Not the Problem

The Real Problem is not a $400 Million Deficit It is imagined that the deficit of the Manitoba Government is presently a small portion of its total expenditures of $13 billion – that is...

The Mystery of Money and the Fraud of the Gold Standard

Money can never be tied to any concrete substance. It is an imaginary object that must rise or fall in quantity with the strokes of a lender’s pen. Binding it to a tangible object only perplexes the fiction. Severing the link reveals its intangible truth and nature.

Misconceptions of Inflation

There are a number of misconceptions regarding Inflation or its lesser known counterpart, Deflation, that have been in existence for centuries. These blunders arise from critical misunderstandings of what money is and how it operates. Inflation simply arises through the creation of money without purpose, by additions to the stock of money without proportioned additions to the stock of goods.

Who or What Funds Government?

It is commonly thought that Government funds government; That Government furnishes the funds with which it pays its bills or settles it debts. This errant reasoning has marred the theories and practices of public...