These days, the commercial banking system isn’t where the action is. Instead, it’s the shadow banking system that needs direct feeding to goose inflation—at least inflation in asset prices, and also to keep the debt service on the nation’s debt as low as possible.
Some anti-Brexit pundits tried to frame the Brexit debate as one of savvy economics-minded people against economic illiterates. These people missed the point.
Lew Rockwell reviews a newly released collection of Neil McCaffrey's letters and other writings, which reveal his relationships with members of the early libertarian movement such as Murray Rothbard.
Economics is not intent upon pronouncing value judgments. It aims at a cognition of the consequences of certain modes of acting.
After very quickly becoming an advanced economy, South Korea is experiencing declining growth and labor productivity. The culprit, as usual, is government intervention in the market to favor certain interests.
Experts who predicted economic doom as Brexit approached obsessed over the problem of "transaction costs" in trade. But the EU was imposing countless new transaction costs of its own.
Taxpayers are paying the disability pension of a "disabled" former cop who works full-time for the FBI and is classified as being in "excellent physical condition."
There is productive consumption and there is non-productive consumption. In the Keynesian mind, it's not necessary to produce anything, so long as people spend and consume endlessly, even to the point of destroying real wealth.
In a large enough democracy, the impact of an individual vote is statistically zero on the margin.
All arguments in favor of mandatory service rest on the idea that an individual's life belongs not to him- or herself, but to the state.
