The Pilgrims tried socialism at Plymouth. After two years, they returned to private enterprise. Likewise, Israel was founded as a socialist state but has back turned toward free markets.
For all the positive talk, Americans are piling on more debt just as real wages are falling, job losses are mounting, and debt costs are rising. Thanks, Fed!
While both the Left and Right celebrate the government's new drive to subsidize American microchip manufacturing, we should remember that political "investments" always result in crony capitalist disasters.
As fear that robots and artificial intelligence will take over whole lines of work, it is time to examine the real relationship between capital and the rest of us.
While much attention has been directed toward Ben Bernanke's Nobel, the banking theories of Nobel winners Douglas Diamond and Philip Dybvig also need a second look.
Government economists "seasonally adjust" data in order to better respond with policy recommendations to deal with business cycles. The problem is that government causes the cycles.
