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Behavioral economists say that since individuals are irrational, we need more state intervention in the economy. However, their criticism can be turned around: if individuals are irrational, government power is especially dangerous.
Money and BanksMoney and Banking
There is no such a thing as insufficient demand as such. An individual’s demand is constrained by his or her ability to produce goods.
The more aggressive the central bank’s loose monetary stance is the more drainage of real wealth takes place and the less real wealth is left at the disposal of true wealth generators.
To obtain more economic growth, what is needed is a supply of saved capital to put the advanced technological methods into effect.
The EntrepreneurLabor and Wages
The Company Men shows how, in order to move on from a devastating layoff, workers must first figure out how to be valuable to the customers.
Britain used to be a world leader in health care innovation and quality. No longer.
Booms and Busts
Central banks can put in motion a prolonged deviation of expectations from the facts of reality. But they can't keep it up forever.
The FedMoney and Banking
When the Fed began paying interest on bank reserves, it kept a lid on inflation. But now there's no easy way out.