People Change Their Minds. That Doesn’t Make Them Irrational.
Human beings do not have constant value scales, but change their goals constantly as the world around them changes. This habit of changing goals does not make a consumer "irrational."
Mises Wire
Why Big Business Is Helping the Regime
Faced with a "join us or be destroyed" ultimatum from federal regulators or lawmakers, most private firms choose the "join us" option.
This Is What Could Trigger Big Growth in CPI Inflation
Whether today's Great Monetary Inflation (which began in 2011) will end with sustained CPI inflation remains a wide-open question at this point. Prices could be reined in as in the 1990s, or a 1970s-style inflation could still be in store.
Why Stimulus Does Not Stimulate
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.
Is Guaranteed Basic Income the Solution to Robots Taking Our Jobs?
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.
The G7’s Reckless Commitment To Mounting Debt
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.
Why America’s Oligarchs Are Moving Left
Wokeness may now be a public relations strategy—a method of appealing to the moral sensibilities of the upper-middle-class woke American consumer.
With Reverse Repos, The Fed Is Now Trying to Clean up Its Own Mess
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.
A Brief History of Secession Referenda in Europe
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.
Much Ado about Nothing in the Art Market
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.
