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Sound economic reasoning highlights a major difference between social sciences and the natural sciences. We cannot rely on observation and measurement to gain understanding of social phenomena.
Bureaucracy and RegulationThe Environment
Virtue-signaling politicians in New Jersey have banned single-use plastic bags, claiming to "help the environment." They need to read Hazlitt's Economics in One Lesson instead.
Booms and BustsThe FedInflation
The Fed claims 2 percent inflation promotes "price stability." However, that policy also causes the boom-and-bust cycle, which is anything but stable.
The FedInflationProgressivismGold StandardMonetary Theory
The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.
Economics is based on human action as purposeful behavior. This means when people act, they try to achieve something. It does not mean that they are always accurate or do the “right thing."
The reality of socialism is that it politicizes life entirely. How that is supposed to improve quality of life remains a mystery.
Economic PolicyThe FedInflationStrategy
The Fed's suppression of interest rates in the USA didn't just affect this nation's economy. It also drove investors to seek higher interest rates in questionable investments.
Monarchs created Europe's modern states but lost the ability to control them. Then, having grown beyond the tools that helped monarchs turn themselves into absolute rulers, "the state acquired a life of its own."