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Mises and Imaginary Constructions
Is praxeology inconsistent? Praxeologists criticize neoclassical economists for using false assumptions in their models. For example, neoclassicals acknowledge that the conditions for “perfect competition” are never found in the actual world. Firms selling a good such as wheat may not have much control over price, but they aren’t perfect “price takers,” as perfect competition requires. […]
Biden Takes Welcome, but Very Limited Steps Towards Marijuana Legalization
A cannabis plant. Yesterday, the White House announced two incremental steps towards loosening federal marijuana prohibition. President will pardon “all current United States citizens and lawful permanent residents who committed the offense of simple possession of marijuana in violation of the Controlled Substances Act.” In addition, he has directed the Attorney General and the Department […]
Tom Cotton Says Biden’s Marijuana Pardon Recipients Pleaded Down From More Serious Charges
Surprising no one, Sen. Tom Cotton (R–Ark.) was not a big fan of President Joe Biden’s announcement yesterday that he was pardoning several thousand people convicted of simple possession of marijuana. “In the midst of a crime wave and on the brink of a recession, Joe Biden is giving blanket pardons to drug offenders—many of […]
A Federal Judge Rejects New York’s Attempt To Defy the SCOTUS Decision Upholding the Right To Bear Arms
Last June in New York State Rifle and Pistol Association v. Bruen, the Supreme Court ruled that it was unconstitutional to require that people who want to carry handguns in public for self-defense demonstrate that they have “proper cause” to do so. New York legislators and Gov. Kathy Hochul responded by eliminating that requirement while simultaneously […]