Over the years a chorus of critics has alleged that the textbook view of how a central banks buys government debt in "open market operations" is backwards. They argue that in reality commercial banks take the lead in making loans without regard to their reserves.
Despite many attempts at doing so, governments have never been able to conjure up more goods and services through price controls and other regulations.
Many Americans could die in the coming weeks and months thanks to the FDA’s blockade on coronavirus testing. Should we consider those victims as martyrs for the principle of bureaucratic supremacy?
It is precisely during a crisis that private property, the price mechanism, and the profit and loss system are most important, and when the government can do the most damage.
The federal government must accompany any loan forgiveness with a repeal of all programs for subsidizing and guaranteeing loans. Anything less would be a formula for socializing higher education.
Both renters and landlords have plenty of troubles when it comes to working together. But putting government regulators in the mix won't help matters.
Campaign finance laws favor incumbents and the rich and famous. Real change requires more freedom and decentralization in how campaigns are funded.
Without markets, it would have been impossible for a country like Rwanda, ravaged by the war, to achieve the growth it has experienced over the past twenty years.
As the central bank continues to pick winners and losers with its profligate monetary policy, social divisions will worsen.
The lasting and far-reaching harms caused by this authoritarian precedent far outweigh those caused by the COVID-19 virus. The American people must decide for themselves how and when to reopen society and return to their daily lives.
