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Capital Accumulation: The Way to Increase Wages

Jacob Maichel

Real higher wages can't be created with a government fiat. Worker productivity must first be increased through greater investment.

Equality and Levelling Down

David Gordon

Egalitarians think that equality has intrinsic value: they advocate it for its own sake, not just to forestall bad consequences. But why is a situation in which some in it have been made better off, and none worse off, worse than one of equality?

Do the Textbooks Get Money and Banking Backwards?

Robert P. Murphy

Over the years a chorus of critics has alleged that the textbook view of how a central banks buys government debt in "open market operations" is backwards. They argue that in reality commercial banks take the lead in making loans without regard to their reserves.

In a Crisis, the Most Innovative Entrepreneurs Make the Most Money. That's a Good Thing.

Peter G. Klein

It is precisely during a crisis that private property, the price mechanism, and the profit and loss system are most important, and when the government can do the most damage.

End the Shutdown

The Editors

The lasting and far-reaching harms caused by this authoritarian precedent far outweigh those caused by the COVID-19 virus. The American people must decide for themselves how and when to reopen society and return to their daily lives.

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