Keynesians claim that tax cuts are good because they help increase consumer spending. But here's why this doesn't matter.
Capital and Interest Theory
Thomas Piketty writes about equality and believes that reimposing communism in the West will achieve it. Mark Thornton disagrees.
Although progressives and their allies might condemn capitalism, they rarely can define it.
Academic finance makes a lot of use of the capital asset pricing model (CAPM), but is it compatible with Austrian economics? Indeed, Austrians do have something to say, thanks to Mises and Rothbard and Austrian capital theory.
Capital is the starting point of economic calculation.
Time is an irreversible flux. Each moment has a unique place in the sequence of moments of time with respect to action.
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Paul Krugman denies that the Fed artificially suppressed interest rates. As usual, Krugman neither understands interest rates nor the effects of inflationary policies.
Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.