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The Economics of Life Made Simple

05/11/2023

“No science in the world is more elevated, more necessary, and more useful than economics.” — Carl Linnaeus, Swedish naturalist (1707-1778) I’ve always wanted to do a “one article” summary of the “Economics of Life.” In 2023, in honor of Adam Smith’s 300th birthday, I got the opportunity. Michael Shermer, publisher of Skeptic magazine, commissioned […]

How to Get a Raise and Become a Millionaire

05/04/2023

“Whenever the law has attempted to regulate the wages of workmen, it has always been rather to lower them than to raise them.” — Adam Smith, “The Wealth of Nations” (1776) Last week in my economics class at Chapman University, I ended my lecture with this promise: “If you want to become wealthy, let me give […]

Watch This Funny Video: ‘Millionaires For Higher Taxes’ Refuse a Pledge to Pay More

04/27/2023

“We want to pay more taxes, and everyone else wants to pay more taxes as well.” — Morris Pearl, Chair, “Patriotic Millionaires” You might get a kick out of this three-minute video of Steve Moore, a supply-side economist and the founder of the Unleash Prosperity hotline, confronting a group of “patriotic millionaires” who want to impose […]

Investing for Two: How My Wife Made All the Difference

04/19/2023

Special Note:  This is Roger Michalski, publisher of Eagle Financial Publications. You may have noticed that Skousen Cafe is a day early this week. That is because I wanted everyone to know that today is Mark Skousen and his wife Jo Ann’s 50th wedding anniversary. Please join me in congratulating them on 50 incredible years. […]

The Three Rs of Government Growth: Here’s How to Stop It.

04/13/2023

“It is incredible the quantity of good that may be done in a country by a single man who will make a business out of it.” — Benjamin Franklin (1783) This week in my economics class at Chapman University, our topic is the role of government. I showed them this chart, which demonstrates the never-ending […]

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The Almost Perfect People

04/06/2023

A few years ago, I read a book called “The Almost Nearly Perfect People.” It extoled the virtues of the Scandinavian people, often told in a tongue-in-cheek manner. Yet, in many ways, there’s a lot of truth about these people who live in a relatively cold climate most of the year and have persevered. My […]

GO Ahead: Make My Day!

03/30/2023

 “By integrating the vital role of the supply chain into national income accounting, Mark Skousen’s development of gross output (GO) has created a more dynamic and broader view of the economy, and of the central role that business plays in national income, the business cycle and economic growth. I recommend that economists seriously consider his […]

Elon Musk Reads This Classic Free-Market Book During Banking Crisis

03/23/2023

“From classic sci-fi works to complex studies on artificial intelligence, Musk credits books with helping him achieve his success. In fact, when asked how he learned to build rockets, he famously replied, ‘I read books.’” — Blinkist magazine I’ve been a big fan of Elon Musk, and have made a lot of money in his […]

“The Fed Disaster Plan” Creates a Financial Crisis

03/16/2023

“We are now suffering from a negative yield curve, where short-term interest rates are higher than long-term rates. As a result, we are suffering a bear market on Wall Street and will probably suffer a recession in 2023 and maybe even a monetary crisis.” — Skousen CAFÉ, January 5, 2023 “There’s always more than one cockroach.” — […]

Adam Smith’s Incredible Prophecy Comes True!

03/09/2023

“Adam Smith was a radical and revolutionary in his time—just as those of us who preach laissez faire are in our time.” – Milton Friedman “The Wealth of Nations is the most important book ever written about capitalism and its moral ramifications. It was intended to make men better, not just better off.” – Jerry […]

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