What Would Happen if Spain Had an Open Border with Morocco

Last week, more than 50,000 people illegally entered the Spanish exclave city of Ceuta, which normally has a population of only 80,000. Ceuta is located on the north African coast and shares a border with Morocco, an Arabic-speaking country with a population of 36 million.  Many migrants pushed through the border barriers, with thousands more swimming short distances to bypass land-based barriers. Ceuta—like Spain’s other exclave city, Melilla—has long faced significant challenges over maintaining the integrity of its borders with the surrounding Moroccan territory. 

Monetary Savings Versus Real Savings

In the National Income and Product Accounts (NIPA), disposable income is defined as the summation of all personal money income minus tax payments to the government. Personal income includes wages and salaries, transfer payments, income from interest and dividends, and rental income. Once we deduct personal monetary outlays from disposable money income, we get the personal savings.

The Slumlord Fed

The 16th of November may be considered as the Fourth of July in the economic life of the United States. Coming generations will commemorate it as marking the foundation of our financial emancipation.Paul M. Warburg, architect of the Federal Reserve System, November 17, 1914

Austrian Economics Made Obvious

Each person has a different makeup, a different history, different information, and different understandings. In short, each person lives a different life than other people live and, as a result, knows many things that other people don’t know. Each person sees and decides differently than other people see and decide.