U.S. History

Perhaps the most pernicious Keynesian myth is that a market economy needs wars in order to keep full employment. Wars don't stimulate the economy; they depress it.

David Gordon explores how Abraham Lincoln's stated view on secession was fundamentally Hobbesian, cynical, and violent. 

A generation ago, the Berlin Wall fell and the USSR collapsed. Today, US monetary authorities are bringing down our own country.

San Francisco, as well as the government of California, is calling for millions in "reparations" for black people in that state. Reparations, unfortunately, are fast becoming another anti-property-owner racket.

The only thing that saves citizens from much higher prices is the fact that the transmission mechanism of monetary policy is independent and diversified. Imagine if that transmission was direct and had only one channel, the central bank itself.

The current job market strength partly reflects the ongoing monetary overhang from years of breakneck growth in money-supply inflation. The $6 trillion in money that was newly created since 2020 is still very much a factor.

San Francisco, as well as the government of California, is calling for millions in "reparations" for black people in that state. Reparations, unfortunately, are fast becoming another anti-property-owner racket.

With negative growth now dipping below –5 percent, money-supply contraction is approaching the biggest declines we've seen in the past thirty-five years.

All of Al Gore's children went to Harvard. Are we really to believe that this is because the Gore kids had the most "merit"? The only real  meritocracy is in the marketplace. 

The great economist Armen Alchian once observed, “Fortunately, societies have progressed despite almost universal ignorance of economic principles.” True.