Robert Mundell, winner of the Economics Nobel in 1999, recently passed away at the age of eighty-eight. As many of the obituaries have explained, Mundell is considered the intellectual father of the euro and was associated with the supply-side revolution in economics in the early 1980s.
Paul Krugman has a very prominent perch from the editorial page at the New York Times and he has used his influence, among other things, to shill for two things that are anathema to a strong economy: inflation and organized labor. My analysis examines what Krugman says about labor unions and explains why once again his economic prognostications are off base.
President Biden has just appointed a commission to study Supreme Court reform. However, I noticed that no one seems to be talking about reform to mean “re-form to better reflect the Constitution than under current precedents and interpretation,” reflected in the notable paucity of defenders of the Constitution as understood at the time it was adopted. That is why the commission could use some guidance from James Wilson for insight.
Listen to the Audio Mises Wire version of this article.
The US state with the fastest growing covid-19 caseload is a state that has experienced some of the harshest and longest lockdowns and covid restrictions: Michigan.
Listen to the Audio Mises Wire version of this article.
Early last month, Texas governor Greg Abbott announced he would end the state’s mask mandate and allow most businesses to function at 100 percent capacity.
Listen to the Audio Mises Wire version of this article.
Minneapolis police officer Derek Chauvin was tried for the crime of second-degree unintentional murder under Minnesota law. The essential questions of fact for the jury were whether Chauvin actually caused George Floyd’s death, and whether he did so while committing a felony offense with force. Quoted below is the relevant Minnesota criminal statute:
Perhaps the most pressing matter today for advocates of freedom is the prospect of the Left completing the institution of a totalitarian state. There is no other way to read the multiprong approach and the political maneuverings that political operatives are taking to rule under “Biden.” I put “Biden” in quotation marks here because the current president of the United States is not a singular person named Joe Biden. It is a central executive committee consisting of party rulers and advisers, plus corporate-state apparatuses.
Hans-Hermann Hoppe has argued that monarchies take a longer-term view of their national economies and therefore are more likely to pursue more stable and secure economies. That is, among monarchs, the desire to maximize wealth promotes more farsightedness than exists in democratic regimes. Due to the lower time preference of monarchs, they are less likely to succumb to the whims of economic populism.
Hoppe outlines this argument in a 1995 article:
