It appears that even economists are now being replaced by machines. At least it seems that way given a recent paint-by-numbers attack from the New York Times on James Grant's new book The Forgotten Depression .
Many poverty relief laws and policies are premised on the assumption that only "the rich" will bear the costs. In fact, the incomes and well-being of many low-income individuals are taxed and diminished to benefit a nebulous group known as "the poor."
The Fed — and many economists everywhere — believe that giving more people jobs will drive more economic growth. But more employment is useless for economic growth if employed persons are not contributing to real wealth and capital accumulation.
The European Central Bank is ramping up its easy-money policies in an effort to spur inflation, which it hopes will improve the economy. The wealthy and powerful will benefit from this, but most everyone else is in big trouble.
When dealing with people in a potentially hostile environment (such as a zombie apocalypse) how do we decide if we should trade with strangers or kill them? It turns out time preference and the division of labor has a lot to do with it.
The fact that opponents of private property rights have managed to frame the debate over health-care mandates as some sort of religious issue is one of the great public relations coups of our time. Note below, for example, the top of a full page ad in the New York Times taken out by a group called...
There is a little-known loophole in federal law that allows for people with disabilities to be employed at wage rates below the minimum wage. Why the exemption? It’s an effort to lessen unemployment among the disabled, and a tacit admission in federal law that minimum wages cause unemployment.