We have experienced an unprecedented increase in the standard of living throughout the world. But recent developments have been blocking progress for the past several years.
Whether political elites promote outright socialism or interventionism, thanks to the reality of economic calculation, they are advocating a failed economy.
A recession looks more likely every day, and the latest sign of this is slowing price growth in producer prices. After all, price inflation usually slows as the economy weakens and consumers run out of easy money.
The Fed is insolvent, and that means that it will bail itself out by printing money. For ordinary people, that means inflation and a rising cost of living.
Keynesian economists fantasize that a market economy cannot "gain traction" without "stimulus" schemes from the government. In the end, the only thing stimulated are inflation and recession.
Progressives claim that poor nations are that way because wealthy nations exploit them through the capitalist system. Cultural institutions, it turns out, are the most important indicators of wealth and poverty.
