by Jon Miltimore | Aug 7, 2024 | South America
Milei delivered his “shock therapy” plan in the first few months of his presidency. Tens of thousands of state workers were cut as were more than half of government ministries, including the Ministry of Culture, as well as the Ministries of Labor, Social Development, Health, and Education (which Milei dubbed “the Ministry of Indoctrination”). Numerous government subsidies were eliminated, and the value of the peso was cut in half.
by Matthew D. Mitchell | Aug 7, 2024 | Europe
Estonia is an inconvenient neighbor for another reason. It’s an uncomfortable reminder to Russians of what could have been. Today, the typical Estonian earns nearly 40 percent more than the typical Russian.
by Robert Krol | Aug 7, 2024 | Free Trade, Protectionism & Tariffs
More than half of imported goods are intermediate items or inputs used in manufacturing. Because the cost of these inputs will rise with the tariffs, total employment in manufacturing and the entire economy will decline or, at best, grow slower.
by Matthew D. Mitchell | Aug 7, 2024 | South America
In 1970, Venezuelans were the wealthiest people in Latin America. With annual incomes comparable to those of the Finns and the Japanese, they earned two-and-a-half times what the typical Latin American earned. Their wealth bought them a longer life, lower infant mortality, and some measure of safety. Today, as the United Socialist Party’s Nicolás Maduro tries to steal another term as president, it is a different story.
by Jaana Woiceshyn | Aug 5, 2024 | Business
Selfishness guides business to trade value for value with all parties – wages for employees’ productivity, products and services for customers’ payment, payment for suppliers’ products, and so on – by mutual consent, for mutual benefit, with no deception or fraud. This is the only way business can maximize long-term profits – and the reason it should be selfish.
by Donald J. Boudreaux | Aug 5, 2024 | Asia, Free Trade, Protectionism & Tariffs
Just as there’s absolutely no reason for you to worry about the trade deficit that you have with your physician or your grocer, there’s absolutely no reason for us Americans to worry about the trade deficit that America has with China.
by Art Carden | Aug 5, 2024 | Economics
Labor is not, in itself, a source of value. Labor is expended in the pursuit of value, and the market process’s competing bids and offers convert people’s individual assessments into intelligible data called prices.
by Alan Dershowitz | Aug 3, 2024 | Foreign Policy
Russia and other tyrannies can take hostages whenever they choose to and use them as bargaining chips.
by Alex Epstein | Jul 24, 2024 | Energy
Biden’s claim that he released 1 billion barrels of gasoline to “lower prices at the pump” is his latest attempt to convince Americans he’s trying to lower gasoline prices. But in fact, he’s doing his utmost to raise prices, because this is necessary for his anti-fossil-fuel goals.
