Ezra Wyrick

While we experience the predictable economic consequences of bad economic policies, the two main presidential candidates seem to be competing in an unspoken contest to demonstrate profound economic illiteracy. Unfortunately, whoever wins in this contest, we lose.

Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.