The fallout of FDR‘s gold adventures was far worse than reneging on US gold bond redemption. FDR declared that the price of gold would henceforth be increased to $35 per ounce from $20.67 per ounce, which immediately devalued the US dollar.
The Atlantic recently published an article claiming that modern “food deserts” exist because the government fails to enforce a New Deal law meant to force up prices and stifle competition. Once again, we see how progressives push their economic illiteracy on everyone else.
More than a century ago, Congress created the Federal Reserve System to intervene in the American economy. Not even the biggest critics of the central bank‘s formation could have predicted the economic disasters it brought about.
Organized labor, which long has been the bedrock of the Democratic Party, is being courted by the MAGA Republicans trying to bolster their image with the “working classes.” But labor unions are no true friend to the working class.
As the Trump administration cuts thousands of federal jobs, it‘s good to remember that the public sector‘s “services” provide no actual net value to the “national product.”
The child-like obsession with buying stuff that American society is often criticized for around Christmas is a sought-after result of our government’s monetary policy.
Imagination is a key aspect of abstract thinking and economics. However, many fallaciously assume that one‘s failure to imagine how something would work on a free market necessitates state provision. This is an unjustified leap in logic.
There is always the choice between the market principle and the hegemonic principle. There is no third way or middle ground between the two, often presented as a “mixed economy.”
A new study at UC Berkeley claims that California‘s new $20 minimum wage has had no adverse economic effects. If only that were true.
The world is awash in debt bubbles, but politicians continue to spend, which requires even more central bank intervention—and more bubbles. Max Rangeley has edited The Age of Debt Bubbles, which details the dangers we face and how to stop the current madness.
