Political cronyism and legal plunder are especially visible in the alliances between pharmaceutical corporations, the banking industry, “tech” companies, and the state.
April was yet another month of declining real wages, and was the twenty-fifth month in a row during which growth in average hourly earnings failed to keep up with price inflation.
Austrian business cycle theory points out that easy money leads to malinvestments. Once easy money disappears, the crash begins. Time to clean up malinvested assets.
While politicians, media mavens, and the academic elite spread fear about artificial intelligence, AI is helping make life better for ordinary consumers.
