Will Brewer’s Reviews > Economics in One Lesson: The Shortest & Surest Way to Understand Basic Economics > Status Update
Will Brewer
is on page 48
Public spending means more taxes. Taxes take from private wealth so taxes take away from production. When a business owner risks capital he will lose it all if he fails but taxes also take away from the reward. Meaning less incentive to produce and therefore less jobs. Credit can also be seen as the future burden of debt. Gov backed loans often goto less qualified recipients who are less efficient and less productive
— May 26, 2023 10:30PM
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Will’s Previous Updates
Will Brewer
is on page 134
The price system (when left alone) is the natural expression of supply and demand. The whole market conglomerates as one and by buying and selling things the price reaches an equilibrium. Gov tries to hold prices high to help the producers or low to help the consumers but each instance causes unintended effects that are net negative. Price caps cause supply shock and price floors cause demand shock.
— Jun 06, 2023 09:19PM
Will Brewer
is on page 103
Subsidizing exports defeats the purpose of exports as the goods are basically given away by gov subsidies. If it doesn’t make sense for a business to do it the government shouldn’t either. Parity prices actually hold back progress and inflate prices of goods. As parity is consistent natural growth is often exponential. This applies to all failing industries as death of 1 industry leads to birth of a better one.
— Jun 03, 2023 08:16AM
Will Brewer
is on page 85
Next we address unnecessarily gov jobs, fantasy of full employment, and tariffs. Gov jobs and soldiers on payroll musnt be kept on for the sole reason that they will be unemployed. Full employment musnt be maintained by gov interference. Free market is always more efficient. Same goes for tariffs effect on jobs. They always are net negative because workers are not being the most efficient as a whole. Zoom out.
— Jun 02, 2023 07:58PM
Will Brewer
is on page 65
Next machinery and spread the work schemes are covered. Both follow the same premise and that is that the work to be done is finite. They worry jobs will disappear if machines improve efficiency or that we need to spread the work out so less will be unemployed. Really machines make more efficiency which makes products more affordable which makes more jobs. When work is spread out it makes labor more expensive..
— May 27, 2023 03:21PM
Will Brewer
is on page 30
Henry Hazlit starts off by telling us what his intentions are in this book and that is to disprove common fallacies that reappear often i different forms. The first fallacy is that destruction creates demand. “Broken window” fallacy. The broken window creates demand for one thing but takes it from something else
— May 26, 2023 08:52PM
