As artificially low interest rates damage the economy, progressives in Congress demand more of the same. In the vernacular, they want the economy to “take the hair of the dog that bit them.” Of course, this only makes things worse in the long run—which is where we are today.
Carl Menger is best known for his vital role in creating the marginal revolution of 1871. However, Menger’s insights ranged well beyond value theory, as he wrote excellent commentary on money and sociology.
California’s draconian fast-food minimum wage law is bad enough, but it turns out a company can avoid the trouble if it has ties to the governor.
Being able to ladle out millions (or billions) in taxpayer dollars to the moneyed classes was always the pipe dream of Alexander Hamilton (and his political heirs like Henry Clay and Abraham Lincoln).
Contrary to popular opinion, bank capital is not a reserve to cover potential losses. In fact, even the ill-fated Silicon Valley Bank had adequate bank capital before it collapsed.
While the ruling elites decry populism, what they don't say is that populism has arisen precisely because the ruling classes have done everything they could to diminish freedom.
"Carl Menger’s writings are the closest to Randian doctrines that have ever emanated from any economist. It will follow that we should read and reread his great books."
Since August 2023, total part-time jobs has increased by 1.4 million. During the same period, full-time jobs fell by more than 1.3 million.
Inflation and artificial money creation through deficits and monetization are a gradual transfer of wealth from working people to the government.
While modern academic and media culture portray black Africans as victims only of Europeans, the history of the African slave trade is much more complicated than historians and journalists want us to believe.
