In Nations by Consent Murray Rothbard draws an important distinction between the nation and the state. While he regards the state as predatory, exploitative, parasitic and criminal, he does not view nations formed by consent as coterminous with the state. In his view the concept of the nation and the aspiration to form nations by consent reflect “subjective feelings of nationality based on objective realities” of time and place into which people are born.

There is a grand economic fable that has been unfolding over the past two decades, one filled with mythical creatures and great fantasy. The main character of this fable is the grand wizard of the markets, the Federal Reserve.

The main central banks have been deliberating on the concept of introducing a digital currency. However, many citizens fail to grasp the rationale behind it when the majority of transactions in major global currencies are carried out electronically. Nevertheless, a central bank digital currency is much more than electronic money. I will explain why.

Can a Black man communicate inconvenient truths? One did and a reporter for The Root, a Black on-line magazine, labeled them foolishness. What has he said? Among others, reportedly this: 

In 2024 the Australian senate is establishing an inquiry into Coles and Woolworths, the two biggest grocery retailers in the country. These two retailers hold a market share of two-thirds of the retail grocery market in Australia.

The number of U.S. commercial foreclosures spiked to 635 in January 2024 from a low of 141 in May 2020 reports real estate data firm ATTOM. The January count was up 17% from the previous month and roughly twice as many as in January 2023. 

The Federal Reserve Board is responsible for formulating macro stabilization policy. More specifically, the Federal Reserve Board seeks tradeoffs between inflation and unemployment rates. Fed officials need meaningful data to formulate useful policies. Data on the unemployment rate that coincides with zero inflation provides a starting point for policy formulation. Fed officials also need data on the rate at which inflation reduces unemployment rates.