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Anti-PoliticsDemocracyLegal SystemThe Police State
Vladimir Putin (not unlike President George W. Bush) has led his country into a destructive war, yet the Russian political leadership enjoys wide public support.
Protectionism and Free TradeOther Schools of Thought
Krugman’s recent NYT column on Russia features commentary on trade surpluses that is at best very misleading.
Central BanksThe FedInflationMonetary TheoryPraxeology
Popular economic wisdom says central banks can counter harmful effects of inflation by raising interest rates. Unfortunately, such moves carry their own forms of misallocation of resources and capital.
War and Foreign Policy
Sanctions are promoted as a response to international aggression. Yet, sanctions themselves are a form of aggression that, like war, usually have unhappy endings.
War and Foreign PolicyWorld History
By what yardstick would we threaten war for the independence of Taiwan but continue to tolerate 60 years of totalitarian repression in Cuba, 90 miles away?
Decentralization and SecessionMedia and CulturePolitical Theory
Social issues, from abortion to critical race theory to teaching gender identity in elementary schools, dominate our politics and media.
Central BanksMoney and BanksCapital and Interest TheoryPraxeology
The typical mainstream economic view of interest rates ignores an important factor: individual time preferences.
Will Japan ever change course on its negative interest rates? Only if voters begin to realize that the lack of inflation to date in Japan is simply good luck.