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Financial MarketsMoney and BanksU.S. EconomyInterventionism
Despite the soothing hot air from the White House and Fed officials, the financial system is becoming increasingly fragile and unstable. Maybe all of that intervention the past decade was not wise.
Central BanksDemocracyMonetary PolicyMoney and BanksWorld History
Walter Bagehot, as Jim Grant writes, believed that bankers and central bankers should exhibit financial discipline. He would not recognize today's banking world.
PoliticsProgressivismWar and Foreign Policy
What does a young man just out of high school face in our woke, politicized society?
KeynesMonetary PolicyBusiness CyclesMonetary Theory
At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money.
Money and BanksU.S. Economy
We're still living with the consequences of the massive monetary inflation by Trump and Biden. Prices are stubbornly high, and falling real wages are driving Americans to say things are getting worse.
Bureaucracy and RegulationTaxes and Spending
The latest federal spending spree cannot be sustained. Even though Maine's government is controlled by Democrats, it is finding ways to cut. Washington should take notice.
These days, the Fed and Chairman Jerome Powell are claiming the title of "inflation fighters." The more appropriate moniker should be "inflationists."
Government interference into money creation and production harms the economy in a number of ways, including skewing the organization of division of labor.