In America, the person who declared a state of emergency (and can renew the emergency endlessly) is the same person who then uses the emergency to rule by decree. F.A. Hayek once pointed out how absurd such a system is.
It's easy to dismiss MMT out of hand, but the impulse to create something from nothing resides deep in the human psyche.
I have long been a fan of science fiction. I like it for the escapism it allows me.
In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begu
In a bit of ironic vandalism, San Francisco protestors painted “bastard” on a bust of Miguel Cervantes and defaced it in other ways.
One of the most valuable foreign sources of libertarian thought comes from Wilhelm von Humboldt. His book, translated from German into English, titled The Sphere and Duties of Government was a major work in liberty.
The Fed now says of its "emergency" powers: "When this crisis is behind us, we will put them away." We'll believe that when we see it.
Two new issues of the Quarterly Journal of Austrian Economicsare now available online.
Should the risk of bond default, trading losses, interest rates risk, propping up “zombie companies” and countless other effects not be addressed by the Fed? Few seem to care if it is.
Ultimately, MMT is popular with politicians, because it's a theory that justifies ever higher levels of government spending.
