The Fed has created a new measure of employment that it says it will use to guide monetary policy. Unfortunately, simply knowing employment trends tells us little about whether or not real wealth is being created in the economy.
Efficient banks have many options for lenders and credit when banking crises hit. It's the inefficient and insolvent banks that must turn to a central bank. But do we really want central banks that reward insolvency and encourage inefficiency?
In this review of Radley Balko's Rise of the Warrior Cop Aaron Tao examines the history of government policing, rights that have been lost, and the symbiotic relationship between the police state and the war on drugs.
Once interest rates begin to rise — and rise they must, whether as a result of Fed policy or not — the end of the asset price inflation will be at hand. The result will be another financial crisis and accompanying recession.
Christopher Westley reports from this year's National Association of Business Economists Convention. He finds that the mainstream's intellectual blinders are firmly in place, and that the “fatal conceit” Friedrich Hayek wrote about in 1988 is alive and well in 2014.
Orders in capital goods have been going up since 2009. Normally, capital goods purchases suggest economic growth, but if the orders are a result of easy money, the purchases point not to wealth creation, but to a bubble.
How much is Obama's war on ISIS Going to Cost you? You don't want to know.
Contrary to the claims of many advocates for expanding the already-huge war apparatus of the United States, Libertarians in general — and Murray Rothbard in particular — are not pacifists, but reject the killing of innocents and other unjustified forms of military aggression.
