While most of us are familiar with Gresham‘s Law, we should remember that it does not mean that bad money is preferred to good money. Instead, it refers to a situation in which government mandates that inferior and superior money legally have the same face value.
With the demise of the Biden administration, it is time to take a hard look at the DEI programs it imposed. While divisive, simple removal will not solve underlying problems.
With the election of Donald Trump, we are seeing repeated use of another F-word to describe the direction America is going: fascist. But is that what is happening in the US, or is the term fascist being thrown about in blind ignorance? These accusations need scrutiny.
As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.
Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism.
Unfortunately, we find that today‘s MAGA economics is in many ways a retread of the failed supply-side economics of old.
Nigeria has large oil deposits, educated people, and much economic potential. However, thanks to government intervention, Nigeria‘s promising economy is in shambles and no relief is in sight.
Critics of free markets claim that the 1980s and 90s were near-pure laissez-faire when, in reality, the regulatory state only got stronger.
One of contentious parts of the history of the American Civil War is the question of whether southern blacks served as soldiers in the Confederate army. While the numbers of black Confederate soldiers didn‘t match their northern counterparts, many of them did serve as armed combatants.
Economist Bryan Caplan has held up the United Arab Emirates as an example of how open borders can be successful. Caplan clearly does not understand how immigration works in the UAE.
