Easy-money advocates who look to Japan as the model have not understood the fundamental reasons why inflation in Japan remained feeble during three decades of dismal economic performance.
The huge amounts of monetary inflation of 2020 have indeed been translated into price inflation in 2021. Yet with the Fed now poised to slow things down, we might find asset inflation could suddenly go into reverse.
The definition of a monopoly (and therefore of competition) in traditional economic theory is arbitrary. And there are many reasons why big companies with little "competition" are beneficial.
The Washington area was traumatized for weeks by two dimwitted psychopaths who rode around brazenly shooting people from the trunk of their ancient Chevrolet. Sadly, law enforcement officials had apparently met their match.
The first myth one has to debunk: that the state is merely a natural and organic outgrowth of political power, as old as the history of mankind or of organized society.
The Bank of Canada's stated mission is "to preserve the value of money by keeping inflation low and stable." Yet, the BOC works to inflate away the value of Canadians' purchasing power every single day.
Larson's principal targets are Friedman and Hayek, but Mises and Rothbard are not spared. For Larson, promarket economists aren't just wrong. They're bad people.
This is not a strong economy, it is a disaster waiting to happen as inflation remains elevated. Even the Federal Reserve now admits inflationary pressures are “persistent.”
