How do we best understand economics? Per Bylund explains in the introduction to his Chinese version of his book, How to Think about the Economy: A Primer. Economic understanding is now exported to a country with more than a billion people.
The standard line is that taxes are part of a “social contract” that individuals have with the authorities that govern them. It is time to rethink the terms of this so-called deal.
Markets are preparing for the Federal Reserve to “pivot”; that is, change directions from raising interest rates to cutting them. What does it mean? It means that the Fed’s leadership has learned nothing in the past several years.
If you are libertarian and you question the latest government predations, you, too, are probably considered to be an enemy of the state.
Central banks never act preemptively. If they end up cutting rates by 150 basis points, it will be because the slowdown in the economy is severe. If you believe in a soft landing, you should not expect six rate cuts.
The job market is still hanging on—but not nearly as well as the headline numbers and media pundits would have you believe.
Thomas Hill Green, an eighteenth-century English philosopher, didn't believe it was possible to have a good society without a powerful state. David Gordon explains why Green’s argument fails to impress.
The island nation of Jamaica has beautiful beaches but a problem with poverty. Jamaica needs capital and free markets, not more state control of the economy.
For a long time, banks have sought to keep construction loans “on the books” to collect more interest payments. With a recession looming, these long loans are likely to become delinquent.
When an economy suffers a recession, some factors of production, such as labor, become unemployed. Keynesians believe that expanding credit and fiat money will bring back full employment. That's not how an economy works.
