Tariff supporters claim that implementing tariffs will result in new jobs at home. What they fail to point out is that many people depend upon imports for work. The tariffs on Canadian aluminum imports are a case in point.
David Gordon revisits Richard Weaver‘s 1948 classic Ideas Have Consequences and finds that this volume has much to tell us today. This review takes us through Weaver‘s views on property rights and the welfare state, and he found the latter wanting.
GDP is a ridiculous way to gauge the strength of the economy. While prices on Wall Street remain robust, trouble lurks on Main Street.
The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China's debt — over $50 trillion — has grown to the point it can't afford it.
Mainstream economists speak of GDP as though it is the economy itself, however, GDP is not a good measure of economic reality. Instead, it presents a distorted picture of genuine economic activity and leads to mistaken conclusions about the economy.
Mainstream economists speak of GDP as though it is the economy itself, however, GDP is not a good measure of economic reality. Instead, it presents a distorted picture of genuine economic activity and leads to mistaken conclusions about the economy.
The total number of employed persons has fallen by 66,000 since August of 2023. Moreover, the new job growth is almost all in part-time jobs.
Keynesian economists have no good explanation for stagflation, rising rates of both inflation and unemployment. However, the Austrian School has long pointed out that sustained inflation has a predictable pattern that leads ultimately to stagflation.
Supporters of the new California minimum wage law for fast-food restaurants claim it will bolster economic opportunity for lower-income people. It actually will be a wealth transfer from the poor to the rich.
California’s draconian fast-food minimum wage law is bad enough, but it turns out a company can avoid the trouble if it has ties to the governor.
