Even if discretionary spending stays flat, total government outlays are estimated to increase by more than $1 trillion, significantly above any measure of tax revenues. And that is without considering a possible recession.
Economist Robert Murphy lays out the purpose and structure of his upcoming book Understanding Money Mechanics, a guide to the Federal Reserve System that is a must-read for laymen. It will be released as a bimonthly serial on the Mises Wire and then published as a book.
A universal basic income can easily be weaponized as a tool to punish "antisocial" behavior such as holding "unacceptable" political views or otherwise engaging in what the state doesn't like.
Elizabeth Warren’s proposed wealth taxes will have devastating consequences on capital formation, and will encourage investors to hold riskier assets than they otherwise would have.
In the second half of the twentieth century, pro-union and anti-trade policies led to a Rust Belt that became uncompetitive, costly, and unable to cope with reality. More protectionism won't save the region now.
Central bankers like Alan Greenspan seem to think central bankers can be trusted to act with restraint. That's a risky plan, especially given that true and reliable constraints could be put on the money supply by adopting commodity money.
"Here's the problem. If you give government a job to do, even one that seems justified in the abstract, it will use its power to make a terrible mess in practice."
Huawei’s 5G global ambitions, coupled with the global trade effort known as the "Belt and Road Initiative" means the US government is motivated to undermine Hong Kong's monetary stability.
