It's already clear that after an initial sugar high caused by stimulus funds, there's now hardly any "bang for the buck" from stimulus funds. In fact, governments are spending millions for each job "created" by stimulus.
Although it conjures up scary imagery, shadow banking is simply a term for banking operations that occur through financial intermediaries that are not traditional commercial banks.
Local governments now control child adoption in America. A recent Supreme Court ruling highlights just how political and capricious local officials can be in exercising this power.
The Sanders proposal comes with all of the hidden costs and other unwanted surprises that one would expect from a politician who has supported totalitarian governance for all of his political life.
Interventionism does not work because it misallocates resources in the economy. More importantly, it disturbs, distorts, and destroys the corrective process whereby market actors reallocate resources back into a sustainable framework.
Countless Americans have been repeatedly told to “follow the science,” supposedly to prove they are not obstinately closed-minded. But the main purpose of it all was just to open people’s minds to what government bureaucrats wanted.
In 2020, federal spending grew year-over-year at the highest rate since the Korean War. But state and local spending growth flatlined. Why? The answer lies with the Federal Reserve and how the feds can spend and borrow a lot more than any state.
One big problem a government police force must always face is: What laws really to enforce? Police departments are theoretically faced with the absolute injunction, “enforce all laws,” but in practice scarcity means only some laws are enforced. Which ones?
Why have prices of building materials soared while consumer prices are relatively stable? This is easier to understand once we reject the myth of monetary neutrality and see how price inflation enters the market in different ways.
The federal government collects a lot more in taxes than the state governments do. And the feds also spend a lot more. This tells us a lot about how the federal government came to dominate all political systems in America.
