U.S. Economy

May 15 is the 100th anniversary of the most famous antitrust ruling in US history — the 1911 Standard Oil case, and the 100 years of myths it engendered.

For the most part, the Great Society represented the culmination of economic, political, and intellectual developments dating back a century, write

It “was not inevitable,” writes Goldfield. Rather, it was “America’s greatest failure.”

What they don’t understand: aggregation, relative prices, interest rates, capital structure, money pumping, and regime uncertainty, writes Ro

For a generation of people to find meaningful work, the government must embrace the Misesian prescription of a strict “hands-off” policy—rather than staying on the Keynesian drug.

What they don't understand: aggregation, relative prices, interest rates, capital structure, money pumping, and regime uncertainty.

Is cutting spending like repeating Herbert Hoover's errors? No, and saying it again and again doesn't make it true. The big-spending Hoover did more to intervene in the peacetime economy than any prior president. Indeed, he set in motion all of the things that FDR later did in the New Deal.

I happened to sit down next to a man last week who has been my benefactor for my entire life and the large part of his, and yet we had never met.

The illusion of wartime prosperity is rooted in how national income was calculated and in how the statistics were compiled, writes Art Carden.