Real wages fell in October as consumer prices, producer prices, and home prices all surge toward multidecade highs. But Janet Yellen isn't concerned. She says the Fed won't allow anything bad to happen.
The Nigerian central bank uses all the same tools as other central banks. And it uses them a lot.
The US military's turn to "wokeness" is a result of decades of high military spending and public deference toward military "experts." That gave us a military that is overfunded and highly political.
Asset price inflation is the process by which "irrational" speculation in asset markets is spurred by monetary inflation. This can occur even without any accompanying goods price inflation.
In an economy where the ruling party controls enormous portions of the economy, attempts to redistribute some of that state-owned wealth isn't necessarily a move against the private sector.
After the Lehman collapse, Wall Street learned nothing. In fact, Wall Street instead embraced Too Big to Fail which means the financial sector is more dependent on government than ever before.
"You do not exploit people by offering them jobs, even if you could have made them an offer they would have found even more desirable."
There's nothing wrong with firms focusing on wealth maximization. In fact, this process allows for workers and investors to gain more wealth—and to put that wealth to use helping everyone in society.
In an age of growing productivity and technological advancement, goods would be getting cheaper every year. This is a reason why price inflation rises more slowly than money supply inflation.
Economics is not simply a series of transactions with hidden implications. Rather sound economics understands that long-term effects outlive the short-term effects of every economic principle or policy.
