A little over one hundred years ago, the Austrian economist Ludwig von Mises started arguing that a socialist economy is impossible. In the turbulent years following the 1917 Bolshevik coup in Russia, Vladimir Lenin tragically proved him right in real time.
The tinpot dictator Justin Trudeau thought he could extend his regime of covid tyranny, but a massive number of Canadian truckers have defied him. They have a good chance of forcing him to back down and maybe toppling his government as well.
Aden Tate tells us what happened:
It was on January 15 that the Canadian government decided they needed to impose a jab mandate over Canadian truckers, claiming that man no longer had the right to his own body, but that his body instead belonged to the state.
This article explores the concept of the Great Decoupling, or the supposed discrepancy between increased labor productivity and higher worker wages. Prior to 1970, increases in labor productivity translated into wage increases, just as economic theory dictates. However, it appears that since the 1970s, wages have barely increased or have increased much slower than productivity. What is the reason for this?
Inflation is skyrocketing in practically the entire world. Central banks are getting scared and beginning to announce the end of expansionary measures, also known as tapering.
Why do central banks find themselves in a dilemma? Why has inflation risen so much? What is a bottleneck? What does tapering mean, and how could it affect us? The objective of this article is to answer these, and other, questions.
More and more economists and finance specialists are warning of the potential arrival of a new “Minsky moment.” The last time this term was used with such conviction was in 2008 at the onset of the Great Recession. It seems that 2021–22 could have some parallels with the world’s last severe recession.
In the National Income and Product Accounts (NIPA), savings are established as the difference between disposable money income and monetary outlays. Disposable income is defined as the summation of all personal money income less tax payments to the government. Personal income includes wages and salaries, transfer payments, income from interest and dividends, and rental income.
After more than a decade of subdued consumer price inflation despite gigantic monetary and fiscal stimuli, last year’s surge in consumer prices took most central banks by surprise. First, they tried to dismiss it as “transitory” and caused by pandemic-related supply bottlenecks.
