Not only are modern monetary theory (MMT) cultists dishonest about the role of money, they also are dishonest about money‘s history. By taking issue with Carl Menger‘s historical version, they expose their own ignorance of how money came about.
President Trump is proposing a $1.5 million levy on Chinese-built ships that enter US harbors. Since a majority of cargo ships have been produced by Chinese shipyards, the costs would be substantial. This action also would damage US exports, yet another unintended consequence of US policies.
President Trump is proposing a $1.5 million levy on Chinese-built ships that enter US harbors. Since a majority of cargo ships have been produced by Chinese shipyards, the costs would be substantial. This action also would damage US exports, yet another unintended consequence of US policies.
Discussions of wages often miss the all-important economic of a worker‘s diminishing marginal value product (DMVP), and the WNBA is no exception.
Discussions of wages often miss the all-important economic concept of a worker‘s diminishing marginal value product (DMVP), and the WNBA is no exception.
Instead, what matters is not whether expectations are stable, but whether expectations correspond to reality. Stable expectations cannot undo the damage caused by loose monetary and fiscal policies.
Surveys used to gauge optimism or pessimism about the economy may be interesting to read, but unless they are the product of sound and realistic economic theory, they are not economically useful.
Human reason, wrote Ludwig von Mises, is the basis for civilization itself. Western civilization, he said, was built upon economic progress that sprang from reason. However, he also warned that if the West abandoned sound economics, it would trigger its demise.
Human reason, wrote Ludwig von Mises, is the basis for civilization itself. Western civilization, he said, was built upon economic progress that sprang from reason. However, he also warned that if the West abandoned sound economics, it would trigger its demise.
On this episode of Power and Market, the group looks at the continued attacks on Powell, how the media wants to blame everything on tariffs, and why Federal employees don't deserve nice things.
