In Defense of Deflation
The fear of deflation is a big problem for the future of the global economy.
The fear of deflation is a big problem for the future of the global economy.
Congress is hardly a great steward of financial power, but there are benefits to wrestling control of the money supply away from the Fed and returning it to Congress.
The Fed says it's scaling back its Quantitative Easing programs, but it still maintains a huge balance sheet. Unfortunately, the Fed has no plan to really unwind its massive QE programs, and has backed itself into a corner.
A successful economy depends on innovative entrepreneurs who are willing to take large risks in return for the chance at great profits.
Economists Akerlof and Shiller contend that people are too gullible and ignorant to be allowed to deal with a potentially deceptive marketplace on their own. The solution is to have the government manage the markets for them.
Mass democracy, as its nineteenth-century liberal opponents foretold, devolves into a contest of contending forces, motivated by corrupt self interest.
Bribes can work both ways. Sometimes it pays to bribe politicians for what you want. But voters will often happily exchange votes for free stuff. In fact, the latter strategy has been proven to work wonders if one wants a bigger government.
Thanks to our bankrupt economic policies, faith in our regime will soon be shaken whether we like it or not. Fortunately, we don't need a majority to make some changes for the better.
“Austrian insights distill the complexity of what we business owners do down to a very simple mantra: satisfy the desires of others. That's it. That's all any of us are trying to do.”
Political Correctness is best understood as propaganda. But unlike propaganda, which is particular campaign or effort, PC is all-encompassing. It seeks to mold us into modern versions of Marx’s un-alienated society man, freed of all his bourgeois pretensions and humdrum social conventions.