How can people still starve in a world overflowing with food and a vast international aid apparatus?
One of the gravest economic mistakes that humans can make is to forget that ours is unavoidably a world of scarcity.
Several years ago Uncle Sam declared Jones, a man in his mid-40s, to be uniquely entitled to retire immediately at double his real annual income of $100,000 for life. Jones took Uncle Sam up on this offer. Each and every year until Jones enters oblivion Uncle Sam now transfers to him $200,000. Jones is made […]