The Fed’s Huge Monetary Overhang Keeps Job Totals Up as Real Wages Fall

The Bureau of Labor Statistic (BLS) released new jobs data on Friday. According to the report, seasonally adjusted total nonfarm jobs rose 311,000 jobs (seasonally adjusted) in February, which was nearly 100,000 jobs above expectations. The unemployment rate rose slightly from 3.4 percent to 3.6 percent (month over month) but this partly reflected a rising labor participation rate which rose to 62.5 percent, the highest estimate since March 2020. 

Karl Marx Was Not an Economist

Despite the massive intellectual feat that Marx’s Capital represents, the Marxian contribution to economics can be readily summarized as virtually zero. Professional economics as it exists today reflects no indication that Karl Marx ever existed.

—Thomas Sowell

If socialists understood economics they wouldn’t be socialists.

—F.A. Hayek

What Do We Mean by Corruption?

Back in December, a county treasurer buddy of mine informed me of a “dead period” when campaign donors cannot give to state legislators since they’re about to go into session. It’d therefore be more likely that they could give to candidates for local office.

If the donors have business before the legislature (or a local body) though, how proper is it that they give at all? That question popped to mind after perusing local campaign finance reports.