Robert Reich has embarked on an intellectual journey- he intends to debunk 10 economic myths. The first of these 10 supposed myths is the idea that economics is a value free objective science. Reich offers a brief history lesson, in which he describes how Adam Smith developed economics as a branch of moral philosophy . Patrick Carroll has pointed out that Reich’s argument entails a fallacious appeal to tradition.

Price discovery in commercial real estate, which had been frozen while sellers insisted on prices from the good ol’ ZIRP days, is starting to thaw. Real Estate giant Related Companies has unloaded the property at 321 W. 44th St., New York, New York for less than $50 million, reports Bloomberg. 

American Compass, a think tank promoting a conservatism lacking even a rhetorical commitment to free markets, recently called for Republicans to support tax increases. The organization claims a GOP embrace of higher taxes will enable the uniparty’s left (Democratic) and right (Republican) wings to create a deficit reduction plan balancing tax increase with spending cuts.

An oft cited reason given for the need for the state is that it is the only means through which the poor can access sufficient welfare to relieve them from the harsh realities that can accompany their circumstances. Yet despite the promises made over many decades and the huge sums spent on state welfare programs, it is hardly clear that the needs of the poor have been sufficiently met, especially given the constant outcry for more resources and better programs.

When socialist schemes fail, as they inevitably do, our attention is immediately drawn away from the destruction they cause to the “good intentions” behind the schemes. They meant well. Their good intentions override their disastrous results. One reason why good intentions are important to both sides of the political divide is that good intentions play well to voters. A good example of this is the national debt crisis in the United States.

According to a new report from the federal government’s Bureau of Labor Statistics on Friday, the US economy added 272,000 jobs during May while the unemployment rate rose slightly to 4.0 percent. As has been repeatedly the case over the past year, the latest monthly job-growth number was described as a “blowout” or “hot” number by major media outlets like CNN.

In the late 1960s Edmund Phelps and Milton Friedman challenged the popular view that there can be a sustainable trade-off between inflation and unemployment. In fact, over time, according to PF, loose central bank policies set the platform for lower economic growth and a higher rate of inflation, or stagflation.

Javier Milei’s chainsaw policy has been without a doubt one of the most interesting and important topics of discussion in world politics. Argentina has taken important measures since Milei assumed the presidency to revert the tragic economic situation that the country was facing. Perhaps one of the most important measures is the adjustments and cuts in the state, the colloquially called “chainsaw policy.”