The recent political firefight over Trumps firing of BLS Commissioner Erika McEntarfer overshadows the underlying question of why we need the BLS at all. Murray Rothbard noted that government statistics provide the main tools for government economic intervention.
The US and its Western allies may scoff at this challenge, but it only became possible due to high-handedness (to use the kindest word imaginable) and outright illegality of US actions.
The US and its Western allies may scoff at this challenge, but it only became possible due to high-handedness (to use the kindest word imaginable) and outright illegality of US actions.
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 concept of a worker‘s diminishing marginal value product (DMVP), and the WNBA is no exception.
Discussions of wages often miss the all-important economic 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.
