We’re often told that CEO pay is outrageously high and that increases in executive pay comes at the expense of worker pay. If we look beyond the few examples used by the pundits, however, we find that these oft-repeated “facts” are anything but.
I’d like to think Mises would have spared a few minutes of his precious time “exploding the fallacy”—an often used expression in his writings—of Bernanke’s most recent musings.
It is hardly a relief for British households that £100 worth of consumer goods will now cost them around £99.90, when other prices in the UK economy are experiencing a rapid inflation.
Measuring aggregate prices through a consumer price index is inherently arbitrary because someone decides what to measure and how. There are better ways to do it, but "fixing" the measure will do nothing to fix the ills of the Fed's monetary policy.
We’re often told that some prices should be high, and some others should be low. But the real goal should not be high prices or low prices, but a price system that communicates what is valued in society.
As the money supply fluctuates, so does the demand for money and for goods and services. We see this in the stock market, but the effect is not instantaneous, and we must be mindful of the time delay.
If all work and all workers were homogenous, we might be able to say that the gender wage gap is caused by sexism, but the gap is better explained by big differences in the life goals and chosen industries of men and women.
In recent years, some economists, contrary to long-established and widely-accepted economic theory, have been claiming that increases in the minimu
In recent years, some economists, contrary to long-established and widely-accepted economic theory, have been claiming that increases in the minimum wage do not increase unemployment. But both logic and the data say otherwise.
What makes a good economist? Robert Higgs explains.
