Financial markets are neither perfectly efficient, nor animally spirited, but eventually adjusting.
Taxes and Spending
The passage of an income tax in the early twentieth century in America was an enormous shift toward a far more centralized and powerful state.
If central banks had all respected a 1-2% floor to interest rates through the last decade how would economic recovery have taken place and what would have been the nature of the expansion?
SocialismCalculation and Knowledge
Capital and Interest Theory
The importance of the division of labor hardly can be exaggerated, and it is also key in understanding the process of capital creation.
Tuesday night, Donald Trump claimed that Americans have always been free and "will stay free" of "government coercion." The U.S. regime's many victims would probably beg to differ.
History never quite repeats itself, but we can look for echoes of depressions from the 1920 and 1930s. Indeed, our current bubble shares some characteristics with bubbles of the past.