The fact Boris Johnson and Joe Biden are both using the phrase "build back better" is bad news. It's a phrase pioneered by groups twisting the covid-19 pandemic into a pretext for extreme “green” policies.
Today, those with a modicum of judgment and respect for their pocketbook are heading anywhere that is not named California, attempting to flee the incompetent mismanagement of Governor Gavin Newsom.
In Japan, huge social security expenditures have been simply monetized by the Bank of Japan at the expense of the overall welfare and the economic prospects of Japan’s youth.
In contrast to the classical cost (labor) theory of value, the so-called marginal revolution ushered in the modern, subjective theory, whereby market price is determined by the marginal utility of a good.
Liberalism in the tradition of Mises and Hayek will not solve the problems of human nature, but it can help to establish a social system in which humans can live peacefully with material prosperity.
When the state interferes with the market in order to bring about a different use of the productive factors it can only impair the supply, it cannot improve it.
To adopt a Rawlsian account of justice, you have to accept democratic participation in a strong sense. For Rawls, the people in a society must decide political questions together.
Many of the "solutions" peddled by today's experts are more likely to increase wealth inequality than decrease it.
Given the overt hostility that progressives have toward private enterprise in the first place, politicians will take shutdown-caused shortages and empty shelves as “proof” that private enterprise has failed.
The present fascination with socialism and hatred of capitalism reflects a combination of willful historical blindness, lack of simple common sense, and inexcusable economic ignorance.
