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Mises Economics Blog

David Veksler Archives

Genetic Discrimination Saves Lives

January 30, 2008 8:36 AM by David Veksler

Thanks to recent technological innovations, companies like 23andMe are now able to offer comprehensive genetic profiles that can reveal predispositions towards certain health problems, and allow patients to take proactive measures to prevent them. Unfortunately, this potentially lifesaving diagnosis will not be available to most individuals because of so-called "genetic privacy" laws, such as the Genetic Information Nondiscrimination Act, passed by the House last year.

One common argument used to justify such laws is that genetic profiling will lead to a "second class" of people who cannot obtain insurance or employment.

FULL ARTICLE

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Protectionist Rhetoric Will Accelerate the Dollar's Slide

November 20, 2007 6:36 AM by David Veksler

Pat Buchanan's recent attempt to diagnose the sinking dollar demonstrates that ignorance of basic economics is not limited to the Left.

Buchanan points out the plummeting value of the dollar relative to other currencies and major commodities such as gold (up 24% this year) and oil (up over 50% in 12 months). He then declares that "the prime suspect in the death of the dollar is the massive trade deficits America has run up" to "maintain her standard of living and to sustain the American Imperium." This diagnosis offers a tantalizing glimpse of the truth, yet shatters it with protectionist bromides.

The primary reason for the growth of the $9 trillion federal debt is the so-called "War on Terror," including the spending on Homeland Security, Afghanistan, and Iraq. Unless you believe these funds averted an economic meltdown due to terrorism, these funds represent a near-total loss. Tanks, bombs, and bureaucratic paper pushers consume vast funds, yet they contribute nothing to the economy, aside from benefiting military contractors. This economic destruction is one of the biggest reasons for the declining dollar. FULL ARTICLE

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Our Techno-Utopian Future: Fallacies and Predictions

January 9, 2007 9:02 AM by David Veksler

What's the ultimate destiny of our civilization? Are we destined to become "living batteries" a la the Matrix, refugees in a post-apocalyptic radioactive desert landscape, or peons of a totalitarian surveillance state? Or, can be look forward to a luxurious but boring utopia, with robot servants and automated factories to meet our every whim, but nothing to do? FULL ARTICLE

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