John Rawls claimed "justice" demands governments use their power to benefit the least well off in a given society. But then he arbitrarily restricts the scope of these programs to particular nation-states. This betrays a fundamental problem with his idea of inequality.
The theory of class conflict did not begin with Karl Marx. It began with two French libertarians, and James Mill developed a similar theory in the 1820s and 1830s.
Bob Murphy and Jeff Snider discuss the recent spike in lending rates in the repo markets, and how the Fed’s attempted solution fails to address the real problem.
Hunter Hastings and James Beardsley discuss how Austrian economics is like putting on a new pair of glasses and seeing everything in business more clearly.
In the blurry world of conflicting economic indicators and forecasts and policy surprises, activist policymakers at the Fed do not know exactly what the “right” monetary policy is today. Neither do their activist critics.
