Unemployment

The standard line is that the Federal Reserve System has two mandates, keep unemployment low and create price stability. Mark Thornton notes that the real agenda is found elsewhere.

The standard line is that the Federal Reserve System has two mandates, keep unemployment low and create price stability. Mark Thornton notes that the real agenda is found elsewhere.

Adherents of the famous Phillips curve believe there is a permanent tradeoff between inflation and unemployment. This is mistaken.

Adherents of the famous Phillips curve believe there is a permanent tradeoff between inflation and unemployment. This is mistaken.

The standard Keynesian play is to increase government spending in order to reduce unemployment and increase economic growth. Here's why it consistently fails.

The specter of stagflation is with us again despite Keynesians' claims that a new bout of inflation will lower unemployment. What causes it?

Everything from huge Keynesian "stimulus" policies to the war in Ukraine is dovetailing in a bout of stagflation: the simultaneous growth of inflation and unemployment.

In a recent speech, President Joe Biden blamed inflation on businesses raising prices and told them that they needed to lower their business costs -- but boost wages. You do the math.

While the Fed governors claim "all is well" and that inflation is "transitory," the bad news continues to pile up. Inflation will be with us for a long time.

Millions of Americans have no conception of economics, and simply don’t believe tradeoffs exist.