Collusion was a way of life with state-chartered enterprises. Little has changed, as firms with political connections still gain profits from their collusion with the state.
Keynesians and fellow travelers hold the Phillips curve to be sacrosanct. But because the Phillips curve cannot establish causality, it is useless as economic theory.
The current job market strength partly reflects the ongoing monetary overhang from years of breakneck growth in money-supply inflation. The $6 trillion in money that was newly created since 2020 is still very much a factor.
Never before have we seen an entire generation of young Americans being censored—and self-censoring—for making innocuous statements. This does not end well.
All of Al Gore's children went to Harvard. Are we really to believe that this is because the Gore kids had the most "merit"? The only real meritocracy is in the marketplace.
We can be sure that the "natural elites" of which Hans Hoppe wrote are not among the Davos crowd. That group of "elites" has an agenda, and it is not liberty and free markets.
In the name of "fighting racism," a number of writers and pundits are making social relationships between people of different races and ethnic groups more contentious.
Mises in 1926: Public opinion always wants "easy money," that is, low interest rates. But it is the very function of the note-issuing bank to resist such demands, protecting its own solvency.
