The capital gains tax cuts off start-ups and smaller entrepreneurs from access to flows of capital. The tax makes society more wasteful, less innovative, and less dynamic.
If the US wants to strengthen its economic and geostrategic position versus China, it needs to apply the same free market principles that made it prosperous and powerful in the first place.
The shift of money from one market to another market is not instantaneous there is a time lag from increases in money and its effect on the average price increases.
Interventionism does not work because it misallocates resources in the economy. More importantly, it disturbs, distorts, and destroys the corrective process whereby market actors reallocate resources back into a sustainable framework.
The automation doomers assume that when jobs are eliminated by automation in one place, that the number of jobs are permanently gone. For this to be true, there would have to be no growth in the need for labor elsewhere.
We've seen pictures of empty shelves in Venezuela. Meantime, the one-year return on the Caracas stock exchange is 1,804.92 percent. If you're already rich in assets, inflation is a big nothing burger. But it's a problem if you're poor.
