If we can spend a few trillion overnight to bail out investors and send out 150 million stimulus checks, why not also launch a universal basic income and a slavery reparations program?
Demand for gold tends to increase as faith in government and government intervention in the economy declines.
There are two kinds of inequality. One develops as societies innovate and become more productive. The other kind results from government corruption and intervention.
Reparations advocates wish to tax countless millions of Americans descended from people who only arrived in the US after slavery was outlawed, and thus couldn't have possibly been responsible for slavery.
Government policy has been driving out smaller providers and driving up healthcare costs. The covid-19 lockdowns will only make things worse.
Our high levels of malinvestment mean that negative interest rates will not have the steroidal effect that's hoped for. But they will deliver another few years of subpar debt-fueled economic activity.
Market knowledge is generated in individual transactions and by entrepreneurial drive. No amount of technology can replace the market process.
It does not bode well for our society when proposals to simply expropriate property are becoming more and more prevalent and discussed with more seriousness.
All price changes have real effects on demand for goods, and therefore alter goods' prices relative to one another. For this reason changes in the money supply can't fail to affect resource allocation.
As Ronald Hamowy put it, Cato's Letters is “unmatched for its breadth and vigor in the literature of the period.”
