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The FedInflationMoney and BanksGold Standard
While we speak of a desire for honest money, the larger problem is that the Federal Reserve System cannot coexist with an honest money regime.
We cannot compare the subjective values of different people, as their experienced satisfactions are personal. It is nonsense to say that Adam likes pears 20 percent more than Beth likes pears.
The average new home in America was still well over 50 percent larger in 2021 than in the 1960s. Yet in an age of declining affordability, governments won't let homes get smaller.
Entrepreneurs serve consumers by creating our future. They do this by trying ideas for new, imagined goods and paying wages to workers and developing new capital.
College faculties historically have leaned left-of-center, but today, a rigid progressive ideology is enforced not only by faculty, but also by higher education administrations.
Bureaucracy and RegulationEducationTaxes and Spending
While President Biden claims that forgiving student loans helps reduce college costs, it is the loan program itself that is responsible for much of the explosive growth of higher education spending.
Economic PolicyU.S. EconomyU.S. HistoryWorld History
More than thirty years ago, Japan Inc., seemed like a global economic juggernaut. Today, no country fits that category, thanks to massive government spending and economic intervention.
Sound economic reasoning highlights a major difference between social sciences and the natural sciences. We cannot rely on observation and measurement to gain understanding of social phenomena.