Assuming that some groups of foragers indeed practiced "primitive communism," they would have died out because they had lost the fierce competition with the more economically viable "libertarian" tribes. Communism has never appeared spontaneously and "naturally" in the history of mankind.
One group uses natural resources to increase human wealth through peaceful means. And then others use the power of the state to steal some of that wealth for themselves.
Price-control schemes have been failing for thousands of years. Now it looks like politicians in Washington are going to give price controls yet another try.
Contrary to popular thinking, we do not need the central bank to stabilize prices in order to promote economic prosperity. The central bank can neither know the "correct" level at which to stabilize prices, nor can it know the right way to do it.
Proposals to ban single-use plastics is yet another triumph of symbolism over substance. Unfortunately, while the benefits are largely illusory, the costs are quite real.
With the economy growing at 2.1%, unemployment at 3.6%, creating 170,000 jobs per month, and estimated underlying core inflation of 2%, no objective data justifies cutting rates that are already artificially low.
See what we've accomplished this quarter! We are proud of our students and events and keep improvement as a constant goal. Thank you to our Members who make all of this possible.
