Mainstream academic economists believe that we advance economics by "testing" theories. Austrian economists believe economics is about understanding human action and does not have to be subjected to constant tests.
Opponents of markets claim that worker wages have not kept up with worker productivity. This incorrect claim is based on two mistakes in estimating wages.
The Turkish regime understands that many Turks have fled the devalued lira by purchasing gold. It is working on several schemes to get people to turn in their gold.
The Fed is, effectively, a car driving at night, very fast, with no headlights. That is a real threat, probably to an unprecedented degree.
The Ukraine crisis arrives in the middle of an evident slowdown of the largest economies after the placebo effect of massive stimulus plans has already worn off.
Like America's central bank, the European Central Bank can't let interest rates rise without facing some big negative repercussions.
Even as the USA seeks to expand NATO while it escalates tensions with Russia, the organization is facing internal pressures as some member nations do not agree with Washington's saber-rattling agenda.
In 2020, Prime Minister Trudeau expressed alarm that the Trump administration might put down violent protests in US cities. In 2022, he decides a heavy-handed response to peaceful protests is justified.
This week's avocado ban—and the behind-the-scenes regulatory regime governing avocado imports—reminds us that there is no such thing as free trade between the US and Mexico.
Bloomberg suggests that individuals should not be permitted to make their own stock selections because they are not "qualified" to make such decisions. Instead, governments should help direct their investment choices.
