Paul Krugman recently wrote that the reason we see high inflation is that people mistakenly believe inflation is in our future and act accordingly. This reasoning is false.
The world is in chaos, so politicians MUST do something. Hence, they demand autarky, which is like attempting to put out a fire by pouring gasoline on it.
Russian oligarchs, American pols, and state-connected billionaires are all cut from the same cloth: they didn't earn, or fully earn, their wealth and position in society. We must withdraw our sanction of these people.
Here is Robert LeFevre's classic argument for a purely free society, the essay that made him a leading, if controversial, spokesman for the libertarian position on government and society.
Despite assurances from politicians and the media, the Federal Reserve System is not a collection of geniuses who stand guard against inflation and recession. Instead, think of the Fed policy makers as the Keystone Cops of central banking.
Ukraine should have been a middle-income country by now. Instead, it is one of the poorest in Europe. If Ukraine joined the EU, it would be the poorest country and well below even Bulgaria.
