An excerpt from the introduction of Money, Banking, and the Business Cycle.
An employer is not hiring people in order to acquire dependents and become their meal ticket. He is hiring them for what they produce.
A tired old recipe for global communism in 21st century pseudo-academic clothing.
Nobel Prize-winning economist Gary Becker was internationally renowned within the economics profession, but was not nearly as well known among the general public as he deserved to be.
There are inequalities everywhere. According to the Bureau of Labor Statistics, Asian men and women have median earnings higher than white men and women. Female cafeteria attendants earn more than their male counterparts. Females who are younger than 30 and have never been married earn salaries 8 percent higher than males of the same description.
Many economists, politicians and pundits assert that median wages have stagnated since the 1970s.
Far more important than income inequality is productivity inequality.
It is not just in politics that the non-existent “trickle-down” theory is found.
The Patient Protection and Affordable Care Act—otherwise known as ObamaCare—is almost four years old. Despite the technical troubles, what every American should know about the law is that whatever its provisions, whatever the press propagandizes or reports, the individual has no control of, or choice in, health insurance or medicine. Not if you’re a doctor, patient […]
Under Calvin Coolidge, the ultimate in non-interventionist government, the annual unemployment rate got down to 1.8 percent. How does the track record of Keynesian intervention compare to that?
The popular take on the current debt ceiling stand-off is that the Tea Party wing of the Republican Party has a delusional belief that it can hit the brakes on new debt creation without bringing on an economic catastrophe. While Republicans are indeed kidding themselves if they believe that their actions will not unleash deep […]
The New York Times had the definitive take on the vicious sell off in gold. To summarize one of their articles: Two years ago gold bugs ran wild as the price of gold rose nearly six times. But since cresting two years ago it has steadily declined, almost by half, putting the gold bugs in […]