The Fed is not allowing the economy to heal, but instead induces more distortions and weirdness. The explosion in orders for new trucks is perhaps just the latest example.
Although some conservatives may insist that the classical liberals are necessarily opposed to a "God-centered" social order, the historical facts suggest otherwise.
Emerging market debt-to-GDP hit nearly 250 percent in the third quarter, with China reaching 335 percent, and for the year the ratio is expected to reach about 365 percent of global GDP.
In most economies, inventories are valued at market prices, while in China they are valued by the authorities and adjusted later. This is just one of many ways China manipulates GDP data.
Interpersonal utility can't be measured. After all, if you can't measure a single person's utility, it makes no sense at all to measure one person's utility against that of another.
Without the culture, the life, the hum, and the energy of the city, without the shopping and walks, the theater or a ball game, city life now has all of the costs and none of the comforts.
