Gold prices are subject to manipulation in a variety of ways from the private sector, central banks, and governments. To see how gold fits into markets, we must look to see how "official" and "unoffocial" prices for the yellow metal are being shaped.
Hoy en día es habitual que los gobiernos midan la prosperidad económica con indicadores del PIB. Sin embargo, las numerosas reglas arbitrarias y las suposiciones erróneas que hay detrás de estas medidas desvirtúan nuestra visión de cómo crecen las economías y mejoran los niveles de vida.
Some now blame employers that don’t pay a “living wage” for the fact that so many people receive welfare payments. So, the politicians want to tax employers for every minimum wage employee they hire. Needless to say, this won’t solve the problem.
Conscription has become an issue in Ukraine where young men are attempting to avoid compulsory military service. But Ukraine is not unique, and states across the globe and throughout history have imposed the 100-percent tax known as "the draft."
Central banks and their favorite economists are everywhere worried that central banks may be too weak to keep the current “expansion” going. If central banks are too weak now, what will happen when they get the strength they want?
Reducing government spending results in an immediate increase in welfare for all productive members of the economy. But, the way we calculate economic growth is rigged to make it look like more government spending fuels economic growth.
One thing the Chinese regime has not managed to do is erase the Chinese fondness for saving money. But in America, where over one-third of the population is on public assistance, it spends as much as possible.
Ebenezer Scrooge is guilty of no crime, but he is a bad economist. This is demonstrated by Scrooge's ignorance about the subjective nature of value, and by his insistence that he is being robbed by his clerk who negotiates a day off.
If cryptocurrencies like bitcoin are being used as money, and if Carl Menger correctly tells us that money must have some kind of antecedent value, then as economists it becomes our job to discover what exactly is that antecedent value. A fresh reading of Menger's Regression Theorem provides...
The Velvet Revolution, during which the people of Czechoslovakia revolted against their communist masters, turns twenty-five years old this month. Many people from formerly-communist economies have learned much from the experience, even if many in the West have not.