JOIN OR RENEW TODAY
Monetary PolicyWorld History
The Japanese experience offers valuable lessons for the US and Europe. A loose monetary policy can stabilize a recession for the short term, but a persistent flood of cheap money paralyzes productivity gains and growth.
ProgressivismMedia and CultureStrategy
Unless the Left's opponents focus on changing voters' ideological drift to the left, candidates who want to actually win elections will have to keep moving left also.
SocialismCapital and Interest TheoryProduction Theory
Marx’s theory of exploitation forms the foundation of all his work. But Marx couldn't tell the difference between profit and surplus, exposing the incoherence of his theory.
Media and Culture
Pollsters, many of whom predicted an overwhelming "blue wave," obviously failed miserably as reliable gauges of political sentiment. But prediction markets may offer an alternative.
Protectionism and Free TradeTaxes and Spending
A trade deficit isn't actual evidence that anything is wrong. But if it were, one of the best things to do would be to reduce government spending. Unfortunately, politicians disagree.
Big GovernmentPolitical Theory
Grand invocations that "I will unify us" are actually shorthand for "We mean to get our way, regardless of others' well-being and desire."
An economic depression is not caused by the collapse of the money stock, but rather by the collapse of the pool of real savings. This is set in motion by previous monetary pumping.
Even if he loses, Donald Trump still has time to change military policy, pardon allies, unseat the Federal Reserve Board of Governors, and throw a wrench in the deep state apparatus.