The specific institutional conditions in 1936 Britain caused inflation to work as intended once, and not well. Stimulus policy today completely ignores these origins and has become a universal solvent to heal all economic ills.
The global minimum tax rate will not hurt G7 members or large technology giants, but it will devastate small and dynamic countries that need to attract capital and investment and who cannot afford to have the tax rate of global leading nations.
The automation doomers assume that when jobs are eliminated by automation in one place, that the number of jobs are permanently gone. For this to be true, there would have to be no growth in the need for labor elsewhere.
Wokeness may now be a public relations strategy—a method of appealing to the moral sensibilities of the upper-middle-class woke American consumer.
One of the areas of the economy that the Fed recently needed to bail out was money market funds. Most investors consider these funds cash. One wonders why the Fed would be forced to provide liquidity to shore up liquidity.
Over the past 200 years, Europeans have held many elections to decide secession questions. In some cases, these votes were used in the creation of an entirely new sovereign state.
The recent sale of an invisible statue for £13,000 is symptomatic of the thoroughgoing financialization of our economy. Investors have become ever more obsessed with the symbols of economic reality and less concerned with underlying economic facts.
If Bukele really wants monetary freedom for El Salvador, he should not have presented them with what, effectively, is a government handout for bitcoin hodlers and the companies behind the Strike app and other potential intermediaries.
However one may feel about immigrants, both historical experience and an honest reading of the US Constitution makes it clear that the federal government is not, in fact, empowered to enforce immigration.
Henry Hazlitt’s second law is the observation that everything in Keynes's General Theory is either unoriginal or untrue. Keynes's theory of unemployment equilibrium is the most original aspect of his work.
