Today's tariff policy relies on the fanciful idea that politicians can pull the right levers to make the economy more efficient or more just. As always, the idea is based on fantasy.
Governments love to use war analogies, framing themselves as the heroes fighting the bad guys. But when it comes to trade wars, governments are the bad guys, and individuals are the victims.
“It’s been evident for a while that conventional conservatism no longer holds much purchase with large swaths of the under 40, and especially under 30, crowd. Tax cuts, deregulation, trade giveaways, Russophobia, democracy wars, and open borders are not getting the kids riled up.”
It appears many Indians and Brazilians and Chinese are willing to risk the global warming for a chance at experiencing even a small piece of what wealthy first-world climate activists have been enjoying all their lives.
In a true market — i.e., without a central bank — banks are intermediaries of real savings in their lending activities, thus promoting genuine and real economic growth.
The crisis-ridden welfare states of South America show us that the fabled "third way" to economic prosperity is not quite the cure-all we're told it is.
Governments fund and regulates the overwhelming majority of post-med-school residencies. Not surprisingly, there is now a shortage in residency positions. And government refuses to allow for greater freedom in licensing foreign doctors.
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In a globalized world, nearly every product or service relies on products and services from somewhere else.
Why do yield-curve inversions so often suggest a recession is on the horizon? Understanding malinvestment and bubble economics can help.
