The word economics is derived from two Greek words: oikos, meaning “house,” and nomos, meaning “law.” Almost all modern definitions of economics, like contemporary definitions of “government,” assume that the State, civil government, is the starting point in understanding economic theory and practice. To understand economics, so the argument goes, the role of the State must first be considered. On [...]

Americans are feeling the pinch at the gas pump. They believe they are paying way too much for a gallon of gasoline. Take a trip to England where you will pay about $6.00 per gallon. Most of the price is in taxes. I can remember seeing the movie Tender Mercies starring Robert Duvall as a drunken country-western singer who finds Christ and a new family. The woman he married owned a gas station. [...]

I’ve always wanted to see the La Brea Tar Pits. Ever since I was a boy I had heard stories of the famed petroleum pits that hold millions of fossils. When my wife, my youngest son, and I were in California a few weeks ago, we took time to visit the archeological find in the heart of downtown Los Angeles located in the Miracle Mile District.[1] Oil literally seeps to the surface through fissures in [...]

Writing a daily column for this website is a perilous enterprise. While most of the emails I get in response are complimentary, there are always a few spoilers. One letter writer was stridently opposed to my article on “Why We Need Rich People”. Like most socialists, he quotes the Bible sparingly and most often out of context. Here was my response (with some modifications): Dear Chris, Thanks for [...]