President Trump‘s recent assertions that the Fed should lower the discount rate puts him squarely in the middle of Fed politics and exposes the messy truth that the Fed is not an independent group of experts but rather a tool of the political system.
In The General Theory, J.M. Keynes allegedly “discredited” Say‘s Law. Of course, Keynes actually debunked a straw man that was a caricature of what Say actually wrote. It‘s time to set the record straight.
“The critical point was, again the Middle Ages, and there you had an adversarial position between the church and the state that was, in fact, crucial.”
Central bank digital currencies are surveillance disguised as money.
American history classes typically teach that the original transcontinental railroad was a major triumph. What they don‘t say is that it was a product of corporate welfare that created economic problems later on.
Part of bringing up young children is to tell them stories and accounts about people who did the right thing, and how they made life better for themselves and others. We can do the same with describing economic concepts, which don‘t have to be dry and boring.
Despite Africa being the world‘s poorest continent, Western elites are still pushing African governments to divest of carbon-based fuels and turn to high-cost and ineffective “green” energy. This is a death sentence for many of Africa‘s poorest people.
The most enduring economic myth of the twentieth century is the idea that FDR‘s New Deal pulled America out of the Great Depression. In truth, his policies destroyed the hopes of millions.
We’ve just released the first two video lectures in Jonathan Newman’s new online course based on Dr. Murphy’s Lessons For the Young Economist, on our recently refurbished Mises Academy platform.
Americans like to believe that the US is a wealthy, indestructible country, but as government debt piles up and inflation ravages the economy, perhaps they need to start worrying. Our present path is unsustainable.
