Larry Summers Reminds Us That Federal “Stimulus” Mostly Exists to Help Wall Street
For people who remain mystified as to how populists like Donald Trump get elected, they need not look much further than this.
For people who remain mystified as to how populists like Donald Trump get elected, they need not look much further than this.
Corporate cost cutting sets the stage for future gains in profitability and productivity, and there is no resulting "paradox of thrift" requiring easy money policies to "fix" the problem.
Acton: “Liberty is not a means to a higher political end. It is itself the highest political end…not for the sake of a good public administration…but for the security in the pursuit of the highest objects of civil society, and of private life.”
The government spends vast amounts of money on educational programs that aim to give “equal opportunity” to those deemed disadvantaged, but there is little or no evidence that these programs achieve anything.
While it took the Federal Reserve almost six years to create 3.5 trillion in new US dollar liquidity after 2008, this time around, it took only ten months to unleash a monetary tsunami of $3 trillion, with the projection of at least another $1.8 trillion next year.
There are few sacred cows in American politics more revered than the New Deal. Yet the New Deal did nothing to end the Depression and it still negatively impacts our economy today. Now we're being told the United States needs a new New Deal.
On January 15, Wikipedia turns 20. Its anniversary is a good time to celebrate the success of a service that has become so useful to so many.
The Canadian Liberal Party began as a party of classical liberalism, radically supportive of freedom and free markets. But those days are long over.
The Nuremberg prosecutors wanted to indict the Nazis on trial for crimes, but at the same time they wanted to preserve the dogma that the modern European nation-state is the culmination of moral progress. This created a conundrum.
In case you doubted that California's politicians are firmly committed to ever-higher levels of taxation, California is now trying to retroactively impose sales taxes on out-of-state retailers going as far back as 2012.
Many healthcare professionals have happily embraced the same attitude as cops: "We're experts, don't you dare question us." But the 100,000 yearly medical-error deaths suggest this expertise ought to be questioned more often.
If the FBI and the Pentagon have already demonstrated their officials are willing to break and bend rules to obstruct Trump, why believe the administrative class when they insist elections are free and fair and all above board?
The Marxist dialectic was purported to explain every development in Soviet society. But so much wishful thinking was required that eventually it all just became a subject for jokes.
Consumers are indeed sovereign, but the reason consumers can exercise their sovereignty is that entrepreneurs have already borne the uncertainty of production to make the goods available for purchase.
Once upon a time, those in power were smart enough to recognize the importance of popular support. Now the arrogant behavior of those in power is sowing the seeds of true subversion of federal authority.
The 1920s featured political détente, debt liquidations by prior consumer price inflation, an introductory stalling of monetary inflation, a German economic miracle, and a broad-based technological revolution. The 2020s have none of these.
Jeff Deist, Ryan McMaken, and Tho Bishop discuss Wednesday's takeover of the US capitol building. What are the potential long-term effects, and just how much of a double standard does the American media have?
Mobilization and separation, not persuasion, is the way forward.
The United States has gone through at least six "party systems." Populism, war, or economic crises usually trigger a change from one system to another.
In January 1921, thirty-five hundred people packed the Lexington Theater in midtown Manhattan to hear a debate of socialism. Ludwig von Mises in Vienna later called the debate "instructive."