As government seek ever larger amounts of debt to finance more spending, they're embracing huge debt levels in the way a broke consumer might embrace payday loans. In the end, we're left with nothing but a flimsy promise to pay.
We often hear these minimum wage laws are well intentioned. I cannot agree. Minimum-wage laws are evil in their methods (coercion) and evil in their goals (to make people believe they’re dependent on government).
The growth of political parties and interest group politics, and the promotion of democracy as a fundamental principle of American government, all came as a result of the move to popular voting for president.
The outcome of today's currency race is uncertain. The credibility of the leading fiat currencies has suffered substantially. Their instability has fueled crises and weakened growth, so the demand for an alternative store of value is high.
In Keynes's day, wages were being artificially inflated by labor union contracts. Unemployment rose. But then Keynes decided inflation would solve the problem by lowering real wages. Here's why that's a bad idea.