George Reisman Profile picture
Sep 19, 2020 4 tweets 1 min read Read on X
Sound economics always considers the actions of the individual in relation to the rest of the economic system and the economic system as a whole in relation to the actions of individuals.
In contrast, so-called "micro-economics considers the actions of individuals as though divorced from the rest of the economic system, while so-called "macro-economics" considers the economic system as though divorced from the actions of individuals. It's a double error.
But it is so pervasive that it is sometimes necessary to use its terminology so that those who know little or nothing about sound economics will be able to feel a measure of the familiar.
This tweet-thread appears as a blogpost at georgereismansblog.blogspot.com/2020/09/the-fa…

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More from @GGReisman

Oct 13, 2020
WARNING: Now and then there is talk of using “lockdowns” as a means of combatting climate change. If this were to happen, the next step would be mass extermination. Those “locked down” [up], would be forcibly prevented from contributing anything to the economic system except CO2.
They could not help but be viewed as constituting a class of destructive parasites. The Left’s logic already implies that billions should be slaughtered, especially where prosperity and thus CO2 emissions are greatest.
To the Left, such lockdowns would make the case for mass murder seem irresistible. The Left, with all of its alleged “Love,” is nothing but a swarm of little murderous monsters waiting for an excuse. They will make Hitler and Stalin seem small by comparison. Keep your guns!
Read 4 tweets
Oct 12, 2020
Columbus Day 2020 II
Columbus Day, which this year marks the 528th anniversary of Columbus’s discovery of America, is tomorrow.
Everyone who identifies himself as a member of Western Civilization should acknowledge the greatness of Columbus. He brought the Western Hemisphere into the orbit of Western Civilization and thereby correspondingly increased the civilized area of the earth’s surface.
Read 7 tweets
Oct 10, 2020
My and Your Individual Preferences Matter

Here's my preference: I prefer global warming and rising sea levels to socialism and a life of deprivation and poverty..
I prefer my car, my A/C, refrigerator, and all the other goods that fossil fuels make possible to holding down the global mean temperature a few degrees over the course of centuries. I have the same preference vis-a-vis a 50-100 foot rise in sea levels over 500-1000 years.
Capitalism can handle such problems, with minimal loss of human life. Against a backdrop of continuing economic progress, history will barely notice them.
Read 5 tweets
Oct 2, 2020
The purpose of my life is my own happiness. It is not to serve as a conscript in anyone’s cockamamie scheme to “bend a curve,” hold back the seas, or hold down the mean temperature of the globe.
That is government central planning, which violates my individual right to plan and pursue my own goals, i.e., my right to the pursuit of my own happiness.
I, and everyone else, engages in individual economic planning that is aimed at making us happier, which often means, making us richer. Our individual plans are harmonized, coordinated, and integrated by the price system. (See chaps. 6-8 of my Capitalism for details.)
Read 7 tweets
Oct 1, 2020
Kamala Harris praises BLM, says ongoing protests are 'essential' for change in US fxn.ws/32ZVkSy #FoxNews
A vote for Biden and Harris (who will likely become President sometime in Biden’s term) is a vote for the black equivalent of the KKK and continuing rioting in the streets.
"Peaceful protests" for Biden and Harris include throwing Molotov cocktails, smashing windows and looting stores, and beating, terrorizing, and killing people, especially police officers.
Read 4 tweets
Sep 26, 2020
Irresponsible Reporting Causes Needless Outrage Two Times Over
The Breonna Taylor case in Louisville, KY is an example of today’s media doing such an irresponsible job of reporting, that the result is needless outrage, followed by rioting and destruction, two times over.
First, the media allege, and then repeat ad nauseam, heinous crimes committed by the police, ignoring such major facts as were the police acting without cause or in self-defense?
Read 8 tweets

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