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As the British economy falters, the government returns to its Keynesian roots. They will find once again that the legacy of J.M. Keynes is inflation and economic ruin.
Price inflation is slightly slowing, but it is slowing as a result of a struggling economy. The White House may soon find it is celebrating much too soon.
Cronyism and CorporatismProgressivismProtectionism and Free Trade
While both the Left and Right celebrate the government's new drive to subsidize American microchip manufacturing, we should remember that political "investments" always result in crony capitalist disasters.
It will be nearly impossible to make any real changes in Washington for the next two years. The real battles are now in the states.
Booms and BustsCentral BanksMonetary PolicyBusiness Cycles
The 2004 Nobel Prize in economics was awarded to two economists for their claim that "technology shocks" cause boom-bust cycles. They have it wrong.
Bureaucracy and RegulationThe Environment
If the so-called experts really want to reduce CO2 emissions, they should look at improving farming methods and forestry, not ridding us of fossil fuels.
Booms and BustsInflation
Americans think hyperinflation can't happen here. Yet government spending and money creation are out of control, and it will not take much to trigger massive price hikes.
Marxist regimes used to slap the word "antirevolutionary" on everything the regimes disliked. Today's regimes use the words "undemocratic" and "antidemocratic" in the same way.