The government accepts no legal obligation to provide specified law enforcement services in exchange for the taxes it forcibly extracts from the citizenry. A clearly defined and voluntarily accepted reciprocal agreement between the government and the citizens has never existed.
Americans ought to begin thinking of trade between the US and the UK as something comparable to trade between California and Idaho.
In his new book Google Archipelago, Rectenwald asserts the Google Archipelago re-upping of Marx is not only practically Marxist, but conceptually and structurally so.
The Clark County School District evaluated itself, and it determined that all the teachers and administrators are doing a great job — and by the way, the union deserves more money.
It is a huge mistake to call the repeating cycle of boom and bust a business cycle. That name implies the bust is the failure of markets and capitalism. But it is really due to monetary and credit inflation licensed and promoted by governments and central banks.
Japan's once-envied economy is now in shambles. The European economy, built on the same shaky tenets, is crumbling, too. Where to go from here?
Central banks can only distort and mask real interest rates with monetary policy. Interest rates are really set by each individual's time preference.
Easy-money policies pushed by central banks may be redirecting wealth away from investment, and toward greater production and consumption of cheap consumer goods. That's not "green."
The history of Latin America is filled with tragic stories of countries reaching great heights — Argentina and Venezuela come to mind — and then falling back to mediocrity. Chile could be next if the protesters get their way.
