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.
Rothbard: "if proponents of the higher minimum wage were simply wrongheaded people of good will, they would not stop at $3 or $4 an hour, but indeed would pursue their dimwit logic into the stratosphere."
When I left Soviet Russia in 1991, I thought I would never see a command-and-control economy again. I was wrong. Over the past decade the global economy has started to resemble one.
