Five Objections Libertarians Have Answered

It’s no secret that the emerging “New Right” is radically opposed to libertarianism. A glance at their commentators in alternative conservative media, the pronouncements of popular “Anon” accounts, or the recent chorus of prominent voices attacking Massie reveals a growing disdain for libertarian ideas. I’ve personally watched the New Right’s anti-libertarian philosophy refine itself and have long wanted to write a counterargument, only to run into the prohibitive hurdle of their criticisms being largely scattered and unorganized.

The Federal Reserve is Why the People are Unhappy

According to the University of Michigan’s latest Index of Consumer Sentiment, a record number of Americans have negative views of the economy. This is yet more evidence that the American people are dissatisfied with their economic condition. Some commentators have claimed to be perplexed by the people’s negative views of the economy since government statistics show that most Americans have good jobs that pay them good salaries.

Edmund Phelps and Dynamic Capitalism

[This article was originally published at Judgment Calls on May 19.]

Edmund Phelps died last Friday. Obituaries focus on the expectations-augmented Phillips curve, the natural rate of unemployment, and his 2006 Nobel prize. That work, which reshaped how central banks think, deserves all the attention it will get. But there was another strand of Phelps’s thinking—less celebrated in mainstream circles but more interesting to me—that I want to highlight.