Thanks to private property, trade, and the Industrial Revolution, there isn't much to be gained from wars among rich countries anymore. But things are different in the developing world.
The Fed is backed into a corner. If price inflation continues, the public could demand action and the Fed could be forced to cut back the flow of easy money, which may lead to a depression.
What we’re beginning to see is policy ghettoization, wherein states pass laws that the most fervent activists on the left and right, respectively, cannot enact at the federal level.
Michael Huemer has written outstanding book exposing many of the ways that many people fail to misunderstand logical fallacies in many ideological debates today.
A few months ago US national debt exceeded $28 trillion. This number is certainly the one economists usually work with, but does this figure capture a long-term perspective?
This new turn toward obedience to expert-fueled executive power didn’t appear from nowhere. Society has long been moving toward a model of society in which outcomes are more important than the protection of natural rights.
Because people strive to improve their condition, they exchange goods and, in this sense, they create the necessary conditions for the emergence of prices. Prices are simply an unintended consequence of the human quest to improve one's life.
