Grandpa Sumner At It Again

Earlier, I responded to Scott Sumner’s rather strange armchair attempt to act like my standard form of poverty statistical analysis was off. It wasn’t and still isn’t. After posting my response, Sumner has another really bizarre post about the topic, which I will address here. Like the first post, this new post utilizes what I… Continue reading Grandpa Sumner At It Again

Capitalism does not reward risk

I have been pointing out recently that defenders of laissez-faire capitalism shift between philosophical frameworks when they are arguing, something I call capitalism whack-a-mole. They do this because there are no normative frameworks that justify laissez-faire capitalism and so there is no other way to actually muster an argument in its favor other than opportunistically… Continue reading Capitalism does not reward risk