The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture.
For now, the number one thing we can do to make the federal debt less costly and more manageable is to just stop making it bigger.
In Nicholas Wolterstorff‘s Understanding Liberal Democracy, he assails a vastly influential school of thought in a way that libertarians will find useful.
Western Europe has been at peace for the past 80 years. Unfortunately, EU leaders have not appreciated the benefits of peace and look to promoting war. The memories of World War II have faded, but the EU seems determined to create new bad memories.
The goalposts are continually changing (more like fallacy-hopping), but one would-be goal of tariffs needs to be confronted—tariffs for domestic job protection.
The last excuse that diehard defenders of President Trump’s tariff policies have advanced now lies in ruins.
Donald Trump says he plans for a big 12% jump in military spending, he has threatened war with Iran, and has escalated the war with the Houthis. None of this has anything to do with defending the United States.
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.
