Development economists often confuse natural resources with wealth and then are puzzled when countries rich in resources experience widespread poverty. Free markets lead to creation of wealth, period.
Germany's foray into green energy is turning out to be a disaster, but abandoning the green utopia is only the first stage for that country. It is time to put common sense and sound economics at the forefront of German policy making.
Economists and political scientists, from Mises to Robert Higgs to James Burnham to public choice scholars, explain why mission creep and abuse by state agencies is the rule rather than the exception.
Powell said that moving forward "we think it's time to just go to a meeting by meeting basis." Translation: "Things might go even more off the rails at any time, so let’s just play it by ear."
Has economics fallen to politics? Court economists like Paul Krugman–we might call them "regime economists"–represent a profession in big trouble. Jeff and Bob discuss.
The original monetarists (Milton Friedman), Scott Sumner, and problems with market monetarism.
It's going to take more than a 0 percent policy interest rate and a newly invented name for QE to really address years of monetary inflation.
Rather than contributing to a "soft landing," raising interest rates will continue to destroy wealth.
Rather than contributing to a "soft landing," raising interest rates will continue to destroy wealth.
The ruling class is claiming that free markets are nothing more than a "trickle-down" scheme. But a free market system really does serve society best.
