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Booms and BustsThe FedInflation
Ben Bernanke once claimed that a monetary gold standard caused economic instability. He failed to mention that his fiat money standard causes the boom-and-bust cycles.
Economic PolicySocialismTaxes and Spending
California's progressive political classes now have a scheme to impose a single-payer system for medical care. If imposed, it will be costly but also ineffective.
Leftist regularly accuse capitalism of depending upon racism for its existence, but history tells a much different story.
The legacy of covid-19 ultimately will be the vast expansion of government on many levels. Not surprisingly, the statism is worse than the virus itself.
What is known as the Austrian School of Economics started in 1871 when Carl Menger published a slender volume under the title Grundsätze der Volkswirtschaftslehre.
By making covid a political virus, progressive politicians, cheered on by their media, applied political "solutions" that failed to protect the most vulnerable people.
While the standard secular narrative is that Christianity held back science and human development, history tells a different story, one of literacy and the development of human capital.
Central BanksThe FedMonetary PolicyCapital and Interest TheoryMonetary Theory
Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.