We are bombarded with claims that capitalism causes inequality, yet what does it really mean? In truth, in a free market economy, differences in income, even large differences, don‘t mean much since most people have a high standard of living.
Economist Robert Higgs described the “ratchet effect” in which government either creates a crisis or responds to one, leading to a permanent expansion of government power. After the crisis ends, government retreats—but not to the point where is was pre-crisis.
College football has finally experienced an athlete‘s holdout in order to leverage a hoped-for payday. In the case of Nico Iamaleava, he tried to leverage more money from the University of Tennessee but failed spectacularly. There are economic lessons to be learned here.
It‘s looking more and more like this playbook is following the exact same story that we’ve witnessed during every other Republican administration over the past forty years.
By trying to deport foreign student Rumeysa Ozturk for simply writing an op-ed in a student paper critical of Israel, the Trump administration and its supporters quickly forget that their actions are part of a slippery slope that imperils free speech in this country. It doesn‘t end here.
The central bank monetary shenanigans in both Europe and the US no longer can be ignored or covered up. Unfortunately, as their economies falter, the Fed and the European Central Bank will resort to even more financial trickery to cover for previous monetary foolishness.
President Trump has threatened to use the armed forces to go after the drug cartels in Mexico. Escalating the disastrous War on Drugs by incorporating the failed strategies of the War on Terror is a terrible idea.
Our taxes are due today. It‘s a reminder that we must get past the tax reformers’ favorite ploy of revenue neutrality.
One of the arguments given in favor of tariffs is that they will enable domestic manufacturers to better compete with producers abroad. While people may believe that to be true, the problem is that tariffs don't create a good foundation for capital development.
An enduring progressive myth is that racial and religious minorities can only make economic gains if government "levels the playing field." The historical record demonstrates, however, that free markets offer the best opportunities for people in minority groups.
