The notion of nominal interest paints a misleading picture of losing purchasing power..
How do people’s ideas on morality affect their economics?
The stories are all over the Internet. Governments are forcing us into a cashless society. Supposedly the pretext is terrorism, and the real reason is to take more control.
Fed apologists argue that the economy would be even more unstable, if we had no monetary central planner. However, the fact is that it became a lot less stable after the Fed was created.
The Exxon CEO is a rare exception, with the courage to defend his company’s moral right to pursue its own interest: profitable production of fossil fuels.
The biggest deflation in the history of the country came after the Fed was founded, and that deflation contributed to the Great Depression of the 1930s. As for bank failures, they reached levels unheard of before there was a Federal Reserve System.
“The top 25 hedge fund managers made more than all the kindergarten teachers in the country,” declared President Obama in a discussion of poverty at Georgetown University. Calling them “society’s lottery winners,” he proposed to hike their taxes. Predictably, battle lines have been formed between two polarized sides. One side—let’s call them the Gauche for […]
Pragmatism is widely considered a virtue in business, but it is in fact a perilous approach, antithetical to long-term profitability.
Obama’s stereotype of all rich people as being “born” into it (hence the lottery analogy) betrays not only willful ignorance, but an irrational hatred of production and success.
Why do most people criminalize wealth creation while others cheer and appreciate it?
Our monetary system is failing, but explaining that isn’t easy.
If roads were private the owners would have an incentive to provide capacity, safety, and invent a pricing mechanism that would enable traffic to flow freely.
Artifically low prices resulting from government decree causes an artificial shortage which results in long lines, empty stations, and lack of incentives for more supplies.
The dollar is always losing value. To measure the decline, people turn to the Consumer Price Index (CPI), or various alternative measures such as Shadow Stats or Billion Prices Project. They measure a basket of goods, and we can see how it changes every year. However, companies are constantly cutting costs. If we see nominal—i.e. […]
Jobs come from government getting out of the way and letting employers produce goods and services.
The question we should be asking ourselves is why is it so undesirable to be a bank in the United States? What does that say about the underlying strength of the economy?
Water is distributed in California and other Western states not by market prices but by the political process.
Government intervention necessarily begets more intervention.