Students for a Free Economy

See you in the fall!

Wed, 13 Jul 2011 10:54:00 -0500

We are reorganizing over the summer.

Fair Trade with Larry Reed

Fri, 29 Apr 2011 16:28:00 -0500

Fight of the Century

Thu, 28 Apr 2011 13:07:27 -0500

Should America Adopt the Gold Standard?

Tue, 29 Mar 2011 11:00:00 -0500

This debate originally aired March 29, 2011 at 7 pm on Northwood University Michigan campus.

Students for a Free Economy - Northwood Event

Connecting the Basti-dots

Wed, 16 Mar 2011 19:19:51 -0500

One of the biggest frustrations I’ve had in my academic career was a negligent and ultimately misinforming high school economics experience. Even with my apathy towards the subject in comparison to literature and English, it seemed like a remarkable waste of time. I learned how to manage a stock portfolio (thank goodness for the specialization of labor; there are people in the world tremendously more effective at this). I learned how to fill out a W-2 like a good statist. I learned to balance a checkbook (ok, so it wasn’t all bad). But, if you had asked me at that point the top-ten list of my preferred professions, economics wouldn’t be in the same zip code of my list. Since then, I’ve been working on undergraduate campuses to spread the ideas of free markets. But I’ve always thought, “What would happen to the undergraduate campuses if public high school economics reflected free market principles?” Authors Tawni H. Ferrarini, James D. Gwartney, and John S. Morton did a comprehensive study of high school economics curricula, especially that provided for advanced placement courses. They report:

The AP economics courses and exams present an imbalanced view. They leave many of our brightest high school students with misleading impressions of both economics and how a society can get the most out of its resources. AP economics focuses on mechanics rather than economic reasoning. The vitally important roles of secure property rights, dynamic competition, entrepreneurship, and innovation as sources of growth and prosperity are almost totally ignored by AP economics. Moreover, students are presented with a highly imbalanced view of markets versus government. Market failure is covered, but government failure is totally omitted. Students are left with a false impression of how the political process works and a lack of understanding of why government intervention often leads to outcomes that are dramatically different than those promised by politicians. The cause of economic enlightenment is poorly served by these omissions and imbalances.

We may soon be able to find out what happens when the content changes. In my graduate program, I met an enthusiastic individual named Adam Vallus. He explained to me when I met him that he was a high school economics teacher, and was in this program to learn more foundational aspects of free markets (our program focuses on the Austrian tradition). As we continued to stay in contact, Adam mentioned how frustrated he felt with the curriculum requirements. He managed to find a text book that met the school’s requirements, and he described it as “not awful.” But he still wanted to impart to the students the real wisdom in economics. We came to a solution: “The Economics of Freedom.”

With the help of Students for Liberty, early this academic year I received copies of their edition of the selected works of Bastiat. Originally intended for undergraduates, this brief but incredibly enlightening book has found a new audience.

I’m encouraged by Adam’s dedication to free market ideals. I’m even more hopeful that the students in his classes will be positively changed because of him. I look forward to a time when he, and hopefully others, make my job that much easier.

Should America Adopt the Gold Standard?

Tue, 15 Mar 2011 11:18:00 -0500

This special event is being sponsored by the Atlas Economic Research Foundation, the Mackinac Center for Public Policy, the Forum for Citizenship and Enterprise and Students for a Free Economy. This will definitely be a debate to see. Please e-mail sfe@mackinac.org with any questions!

Arguing for the Gold Standard:
Dr. Richard M. Ebeling
Professor of Economics, Northwood University
Author of Political Economy, Public Policy and Monetary Economics: Ludwig von Mises and the Austrian Tradition

Arguing Against the Gold Standard:
Dr. Robert B. Barsky
Professor of Economics, University of Michigan (Ann Arbor)
Monetary Economics Program, National Bureau of Economic Research

Tuesday, March 29, 2011
7:00 pm
Griswold Lecture Hall
Northwood University
4000 Whiting Drive
Midland, Michigan

The Paranoid Center

Thu, 10 Mar 2011 21:29:25 -0500

Jesse Walker from Reason Magazine came to the University of Michigan to talk with students about the conspiracies that seem to float through the political center. Check it out!

MSU Education Debate 2011

Sun, 27 Feb 2011 20:51:34 -0500

The Poor Are Getting Poorer?

Wed, 16 Feb 2011 14:33:03 -0500

Steve Horwitz gets to the bottom of the poverty question:

When the Money Runs Out

Fri, 04 Feb 2011 09:23:16 -0500

In a recent Michigan Capitol Confidential article, James Hohman points out that governmental largess has created a bit of a bind for state and city governments that are looking to pare down spending. With revenues falling, legislatures nationwide will have to make tough choices regarding public services, benefits, and employment. This is especially difficult when the primary employers in a given area are employed by the state. As an example, look to the below graphic, indicating the number of people employed in Detroit.

Hohman notes, “In Detroit's case, six of the top 10 employers are not private businesses at all, but government entities: public schools, the city government, the U.S. government, Wayne State University, the State of Michigan and the U.S. Post Office. Two others are health care providers intrinsically tied to government policy, the Detroit Medical Center and the Henry Ford Health System.”

In a similar vein, Christopher Westley of Mises.org notes a similar situation occurring in Wisconsin. See the below list. Westley says, “This leaves Wisconsin's legislature in a bind. The federal stimulus granted it an artificial lifeline, but that runs out this year. Meanwhile, its massive public-sector payroll cannot be met by income taxes on that same sector.”

Largest Wisconsin Employers

Walmart
2.     University of Wisconsin–Madison
3.     Milwaukee Public Schools
4.     US Postal Service
5.     Wisconsin Department of Corrections
6.     Menards
7.     Marshfield Clinic
8.     Aurora Health Care
9.     City of Milwaukee
10. Wisconsin Department of Veterans Affairs

When governments find themselves in the business of employment, government tends to hire more and provide more cushy benefits packages that are “affordable” when property rates and incomes are artificially high (thanks to a boom generated by the manipulation of interest rates). When the bust inevitably comes, public sector employment is no longer affordable, and the state must do what other enterprises must do: shed the malinvestment. The state gambles with the lives of its employees. Rather than taking a position of fiscal responsibility, they dole out benefits they couldn’t otherwise. (To see the breadth of this problem, check out how out of whack public sector employment in Michigan is.) The turmoil caused by this is disheartening. Folks lose their jobs and benefits they’ve been accustomed to.

Nobody wins when government plays with the money, with employment, and the lives of its citizens.

Jobs for Liberty: Get in the Movement!

Thu, 03 Feb 2011 14:34:36 -0500

Want to affect public policy at one of many non-profit organizations across the country? Liberty@Work is a full-time job and professional development program for individuals who want to be advocates for freedom at the state level.

Through the program, participants will work full time as employees at one of many public policy organizations located in cities across the nation. In addition to having a substantive job, participants will engage in half a day of training each week. Through interactive video technology, employees of various organizations will come together to participate in group projects, workshops, reading discussions, and more, all aimed at making participants more effective advocates of liberty.

Possible jobs include: policy research, non-profit operations, marketing and communications, leadership and talent development, fundraising, legal work, and grassroots education.

For more information or to apply for Liberty@Work, please visit: libertyatwork.org

Have questions? Contact recruiting@cgkfoundation.org

Liberty@Work is a full-time program and participants receive a competitive wage and benefits package commensurate with experience and education from participating partner organizations.

You Won't Like It When They're Angry

Wed, 02 Feb 2011 13:03:35 -0500

Incredible Hulk and Bruce Banner aside, union leaders have been exercising a new right won by court case called "bannering". In these cases, businesses that don't have union labor can be the subject of protest, even if the employees in the business itself have no dispute. Kathy Hoekstra of the Mackinac Center for Public Policy reports:

Think More, Sleep Less: SFE Edition

Tue, 25 Jan 2011 15:22:35 -0500

If you have already registered, pass this on to your friends! If not, what are you waiting for?

Think more, sleep less.

The Institute for Humane Studies and Students for a Free Economy will host a weekend seminar at Northwood University in Midland, MI titled, “Exploring Liberty”. This seminar brings together students and faculty to discuss topics in Political Philosophy, History, Law, and Economics to discover what makes some societies prosper while others struggle.

If you ever longed for an opportunity to sit around with intelligent people and discuss big ideas in depth, this is your chance.

We'll provide all the meals and lectures free of charge! The seminar will begin at 3:00 pm on Friday, April 1 and run through 4:00 pm on Sunday, April 3. There is no charge for the seminar, but spaces are limited, so please only sign up if you are committed to attending. If you are coming from outside Midland, we may be able to provide lodging for you on a first-come first-served basis.

Topics include:

What causes economic crises, and how to resolve them?

Where does law come from?

What is the proper governmental response to environmental disasters like the BP oil spill?

More information and registration:

http://www.theihs.org/wknd-seminar/northwood

The Economics of Ice Cubes

Mon, 17 Jan 2011 11:52:00 -0500

I admit this freely: I like drinking things just above freezing. I like my water to numb the nerves in my mouth and make talking all but impossible. I don’t know why this is, or what possible long term side effects it will have, but I do know that it requires a simple but often overlooked household staple: ice cubes. Yes, the simple ice cube. It’s a simple variation of one of the most abundant substances in the world: water. And yet from this, we can garner some fundamental economic truths: stages of production, the value of savings, the act of consumption, demand, supply, and others. Here, I will focus primarily on the merits of savings and the act of consumption, but will touch briefly on the idea behind ice cube production.

For those of you always blessed with having automatic icemakers, don’t fret. I will explain the process to manually create ice cubes with gripping detail. It will be enough for you to understand the process, even if you can’t appreciate it. For the rest of us, we understand that in order to have ice cubes, when you want them, requires foresight. One cannot simply believe that ice cubes will replicate in the freezer, into perpetuity, without some sort of initiative of the demander.

So what do we do? We dutifully fill those plastic trays under the faucet, and as steadily as possible march them to the freezer and set them inside. We close the door, open it immediately and poof! Ice is created, right? Of course not. Ice takes time. It’s not something we create instantly using household appliances. The lesson: every act of production requires a period of time. You must know what you’re going to make, and then plan accordingly. Production requires foresight and time. (It requires other things as well, but the sake of this argument, we’ll leave those alone).

Now, you wait the appropriate amount of time, open the freezer, and voila, ice is waiting for your use. You may do with it what you will. Chock that glass full of it. Make your brain freeze.

Hooman Akshun: Liya P Style

Wed, 05 Jan 2011 15:39:56 -0500

Liya Palagashvili with Students for Liberty offers a great overview of the basic tenets of Austrian economics. Even cats can understand it! :

On the first day of class, my High School Political Economy teacher wrote on the board – “Praxeology: The study of human action.”. He then drew two branches from Praxeology – one of them read “History: What Happened,” while the other read “Economics: Why It Happened.”

Austrian Economics is a specific lens to view and study the world—the ‘why things happen,’ so to speak. As Economist Steve Horwitz notes in his post What Austrian Economics Is and What Austrian Economics is NOT, “[Austrian Economics is] an approach to the study of human action and the social world.” Austrian Economics provides us with certain tools to analyze human action—whether it be understanding historical, current, or future human behavior.

The Austrian School of Economics was founded by Carl Menger in 1871 at the brink of the Marginal Revolution and continued on by his followers Eugen Bohm-Bawerk and Friedrich Wieser. Menger, Bohm-Bawerk, and Wieser all held faculty positions at the University of Vienna in Austria—and thus formulating the name, ‘Austrian Economics.’ Since its founding, the Austrian School moved to Great Britain and the United States and in the 20th century, economists Ludwig von Mises and F.A. Hayek became the leading scholars in Austrian Economics. While the School contains a wide variety of influences and is integrated with a number of thinkers, there are ten main propositions of Austrian Economics. I adopted these from Economist Peter Boettke’s post on Austrian Economics from the Concise Encyclopedia of Economics. For a more detailed analysis of Austrian Economics, please read Peter Boettke’s post.

To see more, along with the original post please go here.

Words On A Page?

Wed, 29 Dec 2010 17:35:09 -0500

Bruce Edward Walker, frequent SFE lecturer, gives his take on Cantor and Cox's "Literature and the Economics of Liberty". This is an excerpt originally posted by the Acton Institute.

In recent decades, literary criticism has championed several schools that disavow common-sense economics in favor of more private and personal agendas. The "personal is political" formulation long ago crept into English departments, at the expense of more traditional understandings of the warp and weave of Western civilization. Beginning in the mid to late 20th century, students were subjected to successive waves of New Criticism, Marxist theory, queer theory, feminist theory, and deconstructionism — all guilty of squeezing square pegs into round holes in order to further individual reputations and engineer social change rather than increase knowledge of the human condition through the arts.

The human condition is, no matter how much theorists would prefer to believe otherwise, economic as well as spiritual, sexual, and political. After all, even atheist transsexual Marxists need to trade something for food, clothing, and shelter, do they not?

A valid question for the creators and critics: What provides the best economic model to ensure the happiness of the seven billion inhabitants of this earth? And what of the billion or more characters inhabiting our planet's literature?

A Love Affair with Hayek

Mon, 20 Dec 2010 16:20:21 -0500

It's all about the Benjamins

Wed, 08 Dec 2010 15:55:03 -0500

The Daily Show With Jon Stewart

Mon - Thurs 11p / 10c

The Big Bank Theory

www.thedailyshow.com

Daily Show Full Episodes

Political Humor & Satire Blog</a>

The Daily Show on Facebook

The Writing on the Wall...Er, Billboard

Mon, 22 Nov 2010 11:13:00 -0500

From Jarrett Skorup at Michigan Capitol Confidential:

According to MIRS Capitol Capsule (subscription required), the Michigan Lodging and Tourism Association (MLTA) is "hoping to send a clear message to lame duck legislative leaders — don't you leave town without funding Pure Michigan."

The private trade group wants public funds to advance their industry, and to this end they've launched a billboard campaign:

Businesses advocating for government funds is nothing new, but it is interesting that the MLTA will use private funds (donated by the Outdoor Advertising Association) in order to pressure lawmakers to get them taxpayer dollars for advertising. The industry goes the long route instead of just paying for the advertisements themselves, which they have refused to do.

As Michael LaFaive previously reported: "In the industry's own 2007-2011 strategic planning report, titled 'Michigan Tourism Strategic Plan,' the authors write:

There is absolutely no industry support for a broad-based industry self-assessment approach to generate sufficient monies to fund Travel Michigan. Last year, TICOM (Tourism Industry Coalition of Michigan) created a special task force to explore such an approach. Without exception, representatives from a variety of tourism industry segments indicated their members and/or Boards would strongly oppose such an approach."

The group also cites a study that says the Pure Michigan funding "pays off in the long run." But apparently the MLTA isn't confident enough about the long run to put up their own money. Instead, the group is simply attempting to rob taxpayer Peter to pay industry Paul.

A more honest billboard would read: "Hey Taxpayers…Fund Our Advertising Now!"

Because If We Didn't Laugh, We'd Cry

Mon, 15 Nov 2010 12:28:31 -0500