Negative rates are a huge transfer of the wealth of savers and real wages to the government and the indebted. A tax on caution. The destruction of the perception of risk that always benefits the most reckless.
"I am not against bank notes as such … I want to give everybody the right to issue his own banknotes. The problem then would be to get other men to accept such private banknotes; maybe nobody will take them."
Behavioral economists and psychologists define as irrational anything that doesn't fit into a narrow model of behavior. Anything "irrational"—like buying the "wrong" stock—must be fixed with government regulation.
Regardless of how knowledgeable we are and regardless of various technological ideas, without an expanding pool of real savings, expansion in economic growth is not going to emerge.
Rather than representing “white supremacy,” the evolution of mathematics has been a globe-, race-, and culture-spanning collaboration of advancements, an ongoing development of more effective tools for anyone to use.
What will be called a public health issue next? Gun violence (been there), transphobia (done that), religion, private schools and home schools? We would not be the first nation to lose its liberties on the installment plan.
Not only will these amendments reduce the abuse of emergency declarations, but they will also help to decentralize power within Pennsylvania. While covid has allowed the executive branch to run wild, Pennsylvania is actually structured in a way that makes the decentralization of power easier.
Explaining good economic theory is about explaining how the other side is ripping you off.
With his latest book, George Will has inched back toward his libertarian roots. But he is still far too enamored of the Tory paternalism that has long infected his work.
That Bretton Woods was called a gold standard was an exercise in obfuscation. It happened for the same reason that NAFTA was called free trade. The state has long used the language of the market economy as a plow to push through its opposite.
