Which is Worse — A Trade Surplus or a Trade Deficit?
Unlike commodity money, fiat currencies allow persistent trade imbalances which cause grave discrepancies in income, consumption, and investment.
Global Economy
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Donald Trump Is the Least of Latin America’s Worries
The regimes of Latin America have been quite successful at destroying their own economies — without any help from Donald Trump.
Will “Big Data” Make a Centrally Planned Economy Possible?
Statistical data about past purchases is not the same thing as market prices. And prices are what make a functioning economy possible.
What Trump Means for Brexit, China, and the EU
The threat of a US-UK trade pact is very bad news for the EU, but Trump's more mercantilist side spells trouble for the US and much of the world.
Inequality Doesn’t Create Poverty
When egalitarians like Oxfam say some people are "worse off," they really mean those people are getting rich more slowly than some others.
Mexicans Are Blaming “Neoliberalism” for Socialism’s Failures
A state monopoly on the oil industry has been impoverishing Mexicans for decades. Yet, the market is blamed for the economy's woes.
Venezuela’s March Toward Default
With gold reserves shrinking, and a collapsing currency, it is only a matter of time until Venezuela defaults on its foreign debt
Get Ready for Passport “Globalization”
There are two new trends in passports. One is toward a single global issuer of passports. The other is toward "citizenship by investment."
