One of the most striking facts of world history: since about 1800, there has been an enormous increase in the average standard of living throughout the world. Before that date, almost everyone was poor, but then things changed.
If we’re going to ask ourselves what might have caused such an unusually large rise in homicide, we ought to look for very unusual events. Covid lockdowns certainly fit the bill.
The risk of a financial crisis does not come from rising bond yields. The risk of a financial crisis was created by lowering bond yields to unrealistic and unjustifiable levels in the first place.
An explosion in the money supply has driven many corporate managers to turn to stock buybacks as a safe alternative to holding on to depreciating cash. This means many companies are decapitalizing.
In Rothbard’s writings I did not find only something totally new to me, but I also found, explained in consistent and simple words, the reasons for the inefficiency and failure of most of the politics of my country, Italy.
There are plenty of sound reasons to oppose government minimum wage laws, but there is one objection making the rounds that is based on bad economics and should be avoided, and that’s the "businesses will pass on the costs to consumers" objection.
Centrally planned economies often stick with terrible ideas for many years. But markets can take bad products, learn from them, and turn them into great products that give the public what it wants and needs.
