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.
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.
According to mainstream economists, the question of whether increasing the minimum wage also increases unemployment is empirical. However, the logic of economic analysis says otherwise.
The canary in the coal mine, is the consumer in our current economic period. We can still hear it, but it is growing weaker.
Paul Krugman claims that the real factor determining inflation is the rate of unemployment, not increases in the supply of money. As usual, he is wrong.
The United States survived the first Great Depression, although it permanently changed the role of government. Will excessive government spending and money creation lead to Great Depression II?
Paul Krugman claims that the real factor determining inflation is the rate of unemployment, not increases in the supply of money. As usual, he is wrong.
In 2022, Michigan Gov. Gretchen Whitmer used political favors and government grants to maneuver thousands of workers into jobs producing electric trucks. But consumers aren’t interested.
