Meghann Foye, a childless woman, demands that people without children get maternity leave too. The purpose, Foye explains, is to allow all workers the same sort of “self-reflection” that parents of small children apparently enjoy in abundance. Writes Foye:
In our time, the greatest source of money chaos is now the global 2%-inflation standard. Deflation-phobic central bankers, led by the FOMC at the Fed, are defying the natural rhythm of prices in a capitalist economy. Under sound money, there would be periods of both falling and rising prices.
Donald Trump is certainly not the only powerful protectionist out there. Chinese steel production has been coming under increasing attack by American interest groups and the US government itself.
It may seem unusual that an economist would talk about culture. Usually, we talk about prices and production, quantities produced, employment, the structure of production, scarce resources, and entrepreneurship.
Bernanke blew it big-time, letting the “recovery” run seven years without any significant increase in rates.
It is now painfully obvious that Ben Bernanke blew it big-time by not raising rates three years ago when the economy and markets enjoyed tailwinds. The former Federal Reserve chairperson, who has claimed the mantle of savior of the global economy, foolishly kept rates at zero until tailwinds turned to headwinds, at which point he handed Janet Yellen the unenviable task of raising rates as the headwinds are strengthening.
Venezuela has become the latest developing country to fall for the illusion that socialism delivers genuine and sustainable economic growth. It has had to learn the hard way that while socialism may boost GDP growth in the short run, in the long run it never fails to leave economic destruction in its wake.
Alfred G. Cuzán
Revisiting “Do We Ever Really Got Out of Anarchy?”
Gerard Casey
Reflections on Legal Polycentrism
Jan Krepelka
A Pure Libertarian Theory of Immigration
Late last week the markets were shocked by a surprisingly bad May jobs report — the worst monthly report in nearly six years. The experts expected the US economy to add 160,000 jobs in May, but it turns out only 38,000 jobs were added. And to make matters worse, 13,000 of those 38,000 were government jobs! Adding more government employees is a drain on the economy, not a measure of economic growth. Incredibly, there are more than 102 million people who are either unemployed or are no longer looking for work.
On the 26th of June, voters here in Spain will face the ballot box for the second time in half a year.
