Senator Elizabeth Warren recently stated that rising prices were due to corporations increasing their profits. “This isn’t about inflation, this is about price gouging for these guys.” It is simply incorrect.

No, corporations have not doubled their profits, and rising prices are not due to the evildoings of businesses. If evil corporations are to blame for rising prices in 2021, as Elizabeth Warren says, I imagine that they were magnanimous and generous corporations when there was low or no inflation, right?

Paul Krugman is at it again, this time with a series of a series of tweets that repeatedly miss the reality of price inflation and its causes. Let’s take a closer look:

“Instead of protecting us, the State has delivered us and our property to the mob and mob instincts…. How can the State and the statist disease be stopped?” – Hans-Hermann Hoppe

The American regime has allowed its mask to drop. The state has shut down businesses and unleashed leftist mobs. It inflates away our currency and has weaponized our banks. It wants to politicize every aspect of our lives while eliminating any semblance of self-governance.

If the Senate follows the House of Representatives’s lead and passes the Immunization Infrastructure Modernization Act (HR 550), Americans who do not get the recommended number of covid vaccines can look forward to receiving a text like this: “This is Dr. Anthony Fauci. According to government records you have not yet received your monthly covid booster shot. Until you prove you are following vaccine protocols, your vaccine passport will be revoked, resulting in loss of your privilege to work, worship, and visit your family.”

It is a commonly accepted view these days that the central bank is a key factor in the determination of interest rates. By this way of thinking, the Fed determines the entire interest rate structure by influencing the short-term interest rates.

The central bank influences the short-term interest rates by means of the monetary liquidity. Thus, by buying assets the Fed adds to the monetary liquidity, thereby lowering rates. When it sells assets, the exact opposite takes place.

As someone who teaches public finance (better termed the economics of government), I can’t count how many times I have heard politicians promise “comprehensive” reforms to some major problem. But what such efforts actually produce is always different from what is promised, because such achievements are beyond government’s competence. The more comprehensive the “reforms” (say, measured by the number of pages in a bill), the more adverse incentives undermining social cooperation are created and the less freedom survives.

Philip Cortney (1895–1971) was a Franco-American entrepreneur, economist and business leader.