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Labor and Wages
Opponents of markets claim that worker wages have not kept up with worker productivity. This incorrect claim is based on two mistakes in estimating wages.
Bureaucracy and RegulationThe Police State
In 2020, Prime Minister Trudeau expressed alarm that the Trump administration might put down violent protests in US cities. In 2022, he decides a heavy-handed response to peaceful protests is justified.
Blockchain technology might be useful in forcing banks to be more transparent in how they handle reserves.
Bureaucracy and Regulation
As much as we may wish to substitute government edicts for markets, the fact is no amount of government control can overturn the realities of economic law.
Flawed as we are and with limited knowledge about the world and ourselves, we might not know what is objectively “best for us long term.” Government planners know even less.
Latin America's antiglobalization epoch, from 1913 to 1970, was marked by high regulations and antitrade efforts that have fueled Latin America's economic problems.
Gabriel Boric is no friend of free trade, low taxes, or markets in general. Yet these policies are what made Chile the most prosperous country in South America.
Financial MarketsGlobal EconomyMoney and Banking
With the Eurozone’s global systemically important banks geared up to 30x, rising bond yields of little more than a few percent could collapse the entire euro system.