In the long run, economic stimulus creates no shortage of losers. The state’s objective is always to extract as many eggs from the golden goose as possible, only now it's not important to keep the goose alive.
Hazlitt takes on a humble objective: to deliver an “unblushingly ‘classical,’ ‘traditional,’ and ‘orthodox’” synthesis of economics. This is the most fitting way to approach the layman, who will only retain a few lessons from an introductory book.
In most economies, inventories are valued at market prices, while in China they are valued by the authorities and adjusted later. This is just one of many ways China manipulates GDP data.
08/28/2021Quarterly Journal of Austrian EconomicsPer Bylund
Steven Kates's new book debunks Keynesian demand-side economics, while striving to resurrect Say’s Law and revive the classical understanding of the economy.
The behavioral economics-based "new development economics" is just like the old development economics, say Espinosa and Carreiro. The Austrian theory of dynamic efficiency offers a useful path forward.
The chronic US trade deficit is a direct result of the dollar’s status as the world’s main reserve currency and unabated monetary increases in government spending. More tariffs won't change that.
Why have prices of building materials soared while consumer prices are relatively stable? This is easier to understand once we reject the myth of monetary neutrality and see how price inflation enters the market in different ways.
