By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?
Ah yes, the Tea Party. Fifteen years after it was established by followers of Ron Paul, the so-called antiestablishment organization has been co-opted by establishment Republicans. Dale Steinreich is not surprised.
Remember those dystopian futuristic films in which the evil people try to electronically erase the heroes? Social media companies are trying to recreate that scenario.
Two days before Christmas, 1913, the infamous "creature from Jekyll Island," the Federal Reserve System, was birthed into our body politic. It has been devouring the economy ever since.
Wall Street has convinced itself that the Fed will soon engineer a "soft landing" by bringing down inflation without an accompanying recession. They need to rethink their beliefs.
University of Chicago professor Martha C. Nussbaum wants to save the world by preventing animals from eating each other in the wild. David Gordon (after pulling himself off the floor) comments on her proposal.
As crime rates rise and government policing fails, more and more people are turning to private security, which is more effective in preventing crime than government police.
According to Galiani, interest equalizes present and future money. It is a means to compensate for the palpitations of the heart that a creditor must endure until the money is returned.
While some politicians preach populism, that usually means protectionism and increased business regulation, along with high marginal income tax rates. Grover Cleveland showed a better way.
