2023: You Wanted Endless Stimulus, You Got Stagflation.
Unfortunately, when governments all over the world decided to “spend now and deal with the consequences later” in 2020, they also sowed the seeds of a 2008-style problem.
Unfortunately, when governments all over the world decided to “spend now and deal with the consequences later” in 2020, they also sowed the seeds of a 2008-style problem.
Relatively free trade and capital mobilization have greatly raised living standards in recent years. Yet those that call themselves globalists are less interested in trade than in unipolar political power, pushing violent, disastrous schemes.
Federal protectionism and bailouts makes it easier for US airlines to survive terrible service, such as mass cancellations or when Southwest imposed a private mask mandate and threw families off flights.
Central bankers follow inflation "target" in their pursuit of "price stability." Not surprisingly, they usually miss their targets -- quite badly -- and we now are living one of those moments.
Americans typically are told that private enterprise wastes resources while government preserves them. Economic truths turn that canard upside down.
Because police protection of students is inadequate, Temple University of Philadelphia has hired private police to help keep students safer from crime.
Dr. Peter Klein joins Jeff and Bob to explain the huge disconnect between supply and demand for labor in post-COVID America.
Despite worries that foreign "competitors" will surpass economic production in the United States, innovation and entrepreneurship are still important here. For now.
While behavioral economics claims to be an effective way of measuring individual economic behavior, it actually sets back authentic economic analysis.
While behavioral economics claims to be an effective way of measuring individual economic behavior, it actually sets back authentic economic analysis.
The roots of Austrian economics go back to the great theologian Saint Thomas Aquinas, whose view of what constitutes a good was a prototype of Menger's pathbreaking theory of the good.
The belief that a free market economy needs an authoritarian state to support it is mistaken. Mises said it best when he wrote that "freedom is indivisible."
Public health agencies tend to be treated like authoritative sacred cows. In reality, they have politicized health policies to the point where they really are a health hazard.
Yuval Noah Harari, who teaches history at Hebrew University in Jerusalem, denies that free will exists. However, to deny free will is to deny human action itself.
Forty years ago, American politicians claimed that Japanese economic success was due to government economic planning. Unfortunately, the myth of industrial policy never seems to die, no matter how many times it is discredited.
Modern progressives are not "reformers." Instead, as Murray Rothbard wrote, the progressive method is to seize control of the state and impose their own agenda on everyone.
Not satisfied with hamstringing the oil and gas industries, environmentalists now are shutting down farms and production of livestock, all in the name of fighting climate change. But people still need to eat.
Federal budget deficits are increasing, but the Biden administration shows no signs of restraining its spending. This is not going to end well.
By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?