As online commerce expands, so will the advent and use of digital currencies. Economists are divided over whether such currencies could retain value and whether or not they are sound enough to compete with physical currencies. That won’t stop the techies and those who seek anonymity from developing and using them. As the marketplace becomes more and more virtual, it’s inevitable that currencies will follow.
Should Black Friday be a national holiday? Henry Ford wrote in his biography of the mutually beneficial partnership of Capital and Labor. He opposed labor unions because he felt they undermined that partnership and turned the two sides against each other. In this regard, Ford was right. Capital needs Labor, and Labor needs Capital. …
Photo by MikeKalasnik 3. The Leading Private Employer in the United States and the World Wal-Mart employs an astounding 2.2 million people! 1.4 million of those work in the United States. That makes Wal-Mart not only the single largest private employer in the country, but the largest employer in the world! At a time when…
Photo by javacolleen Park and preserve protection is also well handled by markets. Privately owned Ravenna Park in Seattle, which was opened in 1887, is a striking example. The park was owned from its opening by George and Oltilde Dorffel, then acquired (as part of a 400 acre parcel) in 1889, and maintained as a…
Photo by roberthuffstutter 3. It inspired the US Constitution and the Bill of Rights Not only did the Magna Carta become a “springboard” for Jefferson’s revolutionary Declaration of Independence, the concepts of law as supreme (above even kings or legislative bodies) were drafted into the United States Constitution by James Monroe. The Bill of Rights,…
The simplistic view of government regulation envisions idealistic regulators forcing regulation onto unwilling business. The reality though is that businesses often seek government regulation in order to gain unfair competitive advantages in the marketplace. Established Companies Established firms in an industry often seek regulation in order to discourage new competitors from entering the market. This…
3. Regulation The best way to ensure kids don’t use drugs is to legalize them. To many who haven’t studied the issue, this seems counter intuitive. Obviously though, if criminalization succeeded at those ends, we would have eradicated drug use by now. Today kids have a harder time getting alcohol than drugs, the primary reason…