Global Economy

Daniel Lacalle and Jeff Deist discuss why all of us have a stake in seeing central bank balance sheets shrink.

Chile would be even better off today had it adopted Mises-style laissez-faire over Milton Friedman's monetarism. But even a Friedmanian regime is far superior to the Keynesian economies that have ruined Argentina and Brazil.

The principal characteristic shared by Socrates, Plato, and Aristotle — the three greatest philosophers of ancient Greece — was their inability to grasp the essential principles of the spontaneous market order and its dynamic process of social cooperation.

China’s stealth devaluation is not making the country more competitive, it is making household and corporate debt riskier as the purchasing power of the yuan is diminished.

While the outrage over Maduro’s dinner with "Salt Bae" is well deserved, it's just a taste of how socialism actually operates in the real world. 

We're clearly better off than our grandparents in many ways. But now we have to be sure not destroy the progress that's been made.

The shorter work week is entirely a capitalist invention. As capital investment caused the marginal productivity of labor to increase over time, less labor was required to produce the same levels of output.

Emerging economies should not bet on the Fed to bail them out, but begin to solve their serious imbalances without expecting monetary miracles.

The rot that Hugo Chávez spread throughout Venezuela had been put into place decades earlier by the creation of a seemingly benign welfare state.

Emerging-market currencies often suffer a as a result of their government's own profligacy. But the US is also actively trying to destabilize some currencies, and setting up a conflict that the US could ultimately lose.