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Common Sense Economics

Is “buying local” even possible?

August 28, 2017 – Anthony Gill …… The operative question is whether any product is truly “local”. If you are familiar with Leonard Read’s famous I, Pencil, then you won’t be surprised to find out that even the simplest things (e.g., pencils) are made from materials and labor all over the world. Continue reading →

Does ‘consumer spending’ really help the economy?

February 28, 2017 – Lee Friday …… Retail sales figures are announced and discussed on a regular basis by business reporters in the mainstream media. The conventional view is that rising sales i.e. more consumer spending is a symptom of a healthy economy. However, this view is a symptom of economic ignorance. Continue reading →