Can Data by Itself Inform Us about the Real World?
Mainstream economists insist that data alone can explain economic events, permitting them to test economic theories. In truth, without sound theory, data is meaningless.
Mainstream economists insist that data alone can explain economic events, permitting them to test economic theories. In truth, without sound theory, data is meaningless.
Central banks intervene in order to “create demand,” and then they intervene in order to try to mitigate the damage they caused earlier. This is a never-ending scenario of economic destruction.
According to an article in The Atlantic, Washington is turning away from its previous commitment to “free trade.” However, there never was a “free trade consensus” because Washington always has sought state-managed trade.
The US government’s recent arms sale to Israel is a reminder that arms sales have become a significant part of US foreign policy, as well as a major source of instability around the world.
Switzerland has been a neutral country for about five hundred years. Sweden also has a tradition of neutrality, but it has recently changed its position, to its own detriment.
Even though our legal authorities treat smugglers as criminals, smugglers actually are promoters of liberty who usually break unjust laws. The US was practically founded on smuggling.
Mark Thornton joins Ryan and Tho to discuss the current state of the economy and what to expect as we near the election.
Politicians will invoke the venerable just war theory when they believe they can manipulate the facts in their favor. In truth, it is the rare government that engages in a justified conflict.
Israel’s defenders act like Netanyahu and his allies have had no choice but to react to October 7 in the manner that they have. But that isn’t true.
Supporters of the new California minimum wage law for fast-food restaurants claim it will bolster economic opportunity for lower-income people. It actually will be a wealth transfer from the poor to the rich.