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The State of Modern Economics

8 hours agoThe Austrian
In the last ten to twenty years, there’s been a real shift in mainstream economics—both micro and macro—away from theory and toward what you might call atheoretical inductive empirical work. This is not for the better.
Zimbabwean notes

The Fed Embraces Its Inner Zimbabwean

Blog05/06/2021

With Jerome Powell and Janet Yellen focusing on using monetary policy to manage climate change, the M1 money supply has gone parabolic, from just over $4 trillion in February to $18.6 trillion in March. This is right out of Zimbabwe's playbook.

Three Reasons Why the Biden Tax Increase Makes No Sense

Blog05/06/2021

Biden’s tax increase plan does not make sense from a growth, revenue, or deficit perspective, and it does virtually nothing to address the real problem: ballooning spending on programs like Social Security.

Decentralization, Absolutism, and the Papal States

Blog05/05/2021

The Papal States offer a helpful case study in understanding the transformation of Europe in the nineteenth century. Unfortunately, Kertzer's study on the topic is couched in faulty notions of enlightenment and medievalism. 

The Sterility of Intellectual Standardization

05/05/2021The Austrian

Devine responds to the critics who claim that capitalism is increasingly under attack because it promotes a collapse of moral values. Devine is fully capable of handling these accusations and has written a book worth reading.

What Happens When Governments Force Corporate Boards to Appoint More Women

Blog05/05/2021

Recent legislation in California mandates more women on corporate boards. This is supposed to shift the balance in corporate America in favor of female employees and managers. It doesn't seem to be working. 

Monetary Pumping and Idle Resources

Blog05/05/2021

A loose monetary policy that is aimed at boosting use of idle resources won't work. Idle resources only become profitable and efficient when we have enough real savings. Unfortunately, easy money policies destroy real savings. 

Political Competition vs. Market Competition

Blog05/04/2021

In a market economy, it is not the warlord or strongman who seizes control and lords it over his subjects. Rather, it is the common man as consumer who sets the terms for victory in the marketplace.

The Ruling Class Only Cares about Democracy When It Helps Them

Blog05/04/2021

Democracy is only acceptable when the outcome is what the ruling class wants. Fortunately, the federal courts are always handy to overturn the results of free elections. 

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