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Jacob Soll believes that a truly successful economy must embody at least some of the economic regulation developed by Jean-Baptiste Colbert, the French finance minister under Louis XIV.
The reality of socialism is that it politicizes life entirely. How that is supposed to improve quality of life remains a mystery.
Central BanksFinancial MarketsStrategy
Most government intervention into currency exchange rates create more problems than they solve. Japan's lost decades are a prime example of what can happen.
Adherents of the famous Phillips curve believe there is a permanent tradeoff between inflation and unemployment. This is mistaken.
The rise of democracy blurred the lines between the regime and the people it exploits. This was less of a problem under monarchs, whose interests were clearly separate from the public's.
While the current political narratives claim that only Europeans were involved in the infamous transatlantic slave trade, the Africans themselves were also major players in directing and overseeing it.
Booms and BustsInflationStrategy
The Fed is slowly increasing interest rates in the hopes that the economy will experience a "soft landing." However, there is no way to soften the blows about to fall on the economy.
Labor and WagesValue and Exchange
There is only one way to improve the standard of living for the wage-earning masses: increased capital investment.