Economic Freedom defined by Students

Thoughts on a Free Market Economy…
“Economic Freedom defined by Students”
By Phyllis Hunsinger
November 12, 2019

The 2019 Western Slope Economic Leadership Conference on November 12, 2019, featured something new this year: Student Leaders. Students registered to attend the conference were invited to apply to be a student leader during the conference. These student leaders were trained by the speakers, Dr. Donald Fell and Dr. John Brock, to assist with several teaching activities involving the large group of students. As a part of the …

Read More »

“Economic Freedom”

Thoughts on a Free Market Economy…
“Economic Freedom”
By Phyllis Hunsinger
October 1, 2019

Economic freedom is defined as the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please.

Each year the Fraser Institute, the Heritage Foundation, and the Wall Street Journal compile a ranking of countries in the world according to their economic freedom. The Economic Freedom Index, which the …

Read More »

“Saving Money”

Thoughts on a Free Market Economy…
“Saving Money”
By Phyllis Hunsinger
September 1, 2019

How often do we as Americans think about saving money? How often do we encourage young people to develop the habit of saving money? Why do we need to save anyway? We save because we cannot predict the future. Saving money can help individuals become financially secure. The data below demonstrates most Americans are not saving money.

A recent survey by Bankrate.com revealed that millions of Americans are ill prepared for …

Read More »

“Is Student Debt Cancellation Fair”

Thoughts on a Free Market Economy…“Is Student Debt Cancellation Fair”By Phyllis HunsingerAugust 1, 2019

Student debt cancellation is one of the major issues being advocated by current presidential candidates. Truly it is understandable why this is being promoted in a presidential campaign.Anytime a political candidate can concentrate the benefits of an interest group that may garner some sympathy in the public eye and have everyone else pay for these benefits, votes just seem like easy-picking for the candidates.  This is nothing new in campaigns.

But, is debt …

Read More »

Life, Liberty, and Property

Thoughts on a Free Market Economy…

“Life, Liberty, and Property”

By Phyllis Hunsinger

July 1, 2019

Claude Frederic Bastiat was a French economist, legislator, and writer in the first part of the nineteenth century who championed private property, free markets, and limited government. His most famous work is The Law, which is the classic blueprint for a free society.

As July 4th is celebrated in …

Read More »

“The Broken Window Fallacy”

Thoughts on a Free
Market Economy…

“The
Broken Window Fallacy”

By
Phyllis Hunsinger

June 1, 2019

The broken window fallacy was first expressed by the great French economist, Frederic Bastiat, born June 29, 1801, and died Decembeer 24, 1850. Bastiat used the parable of a broken window to demonstrate why destruction does not benefit the economy.

In Bastiat’s parable, a young son breaks a pane of glass, meaning the father will have to pay to replace the broken window. The onlookers, and perhaps the boy’s mother, consider the situation and decide …

Read More »

Taking Capitalism For Granted

Thoughts on a Free
Market Economy…

Paragraph

Thoughts on a Free Market Economy…

“Taking Capitalism for Granted”

By Phyllis Hunsinger

May 1, 2019

“Taking
Capitalism for Granted”

By
Phyllis Hunsinger

May
1, 2019

A Harris poll in March, 2019, revealed
61% of Americans aged between 18 and 24 have a positive reaction to the word,
“socialism,” and overall, 39% of Americans are well-deposed toward socialism.

When reading these poll results, several
questions come to mind: (1) Did the respondents have to put down their smart
phones and their cup of Starbucks coffee in order to respond to the poll
questions? (2) Have any of …

Read More »

Ignore Economic Principles at Your Peril

Thoughts on a Free
Market Economy…

“Ignore
Economic Principles at Your Peril”

By
Phyllis Hunsinger

April
1, 2019

            The political climate today is overrun with proposals
that sound good to the uneducated; however, there is a cautionary tale to be
told.  Randomly promising free health
care for all, higher minimum wage, a guaranteed income for those unemployed or
unwilling to work, and forgiving student debts are just a few of the campaign
promises of many current day politicians.  
These goodies sound too good to pass up by the seriously uninformed
voters.  But just like you cannot defy
gravity, you cannot …

Read More »

Who is Ludwig von Mises?

Thoughts on a Free
Market Economy…

“Who
is Ludwig von Mises?”

By
Phyllis Hunsinger

March
1, 2019

Ludwig Heinrich Edler
von Mises was one of the most notable economists of the 20h century.

One of the fundamental
axioms he popularized was praxeology, which is the science of human action,
that is, that human beings engage in conscious or purposeful actions toward
chosen goals.

According to a
historical biography, Ludwig von Mises was able to demonstrate:

(1)  the expansion of free markets, the division of
labor, and private capital investment is the only possible path to the
prosperity of the human race;

(2) 
socialism would be …

Read More »

The Righteousness Fallacy

Thoughts on a Free
Market Economy…

“The
Righteousness Fallacy”

By
Phyllis Hunsinger

February
1, 2019

Dr. Bo
Bennett described the Righteous Fallacy, also known as the fallacy of good
intentions, as the idea that one is correct because their intentions are pure.

Throughout history this fallacy of good intentions may be observed, but nowhere is this fallacy demonstrated more succinctly than the 1965 War on Poverty.  As evidenced by data, not only did this infamous government program not end poverty, it exacerbated the problems associated with poverty.  The policy of single mothers receiving monetary assistance which …

Read More »