All eyes on Jackson Hole this week as the Fed tackles inflation.
MARKETS
Profit Over Principle?
Are principles and profits really in conflict?
Books: Henry Hazlitt’s “Economics In One Lesson” Reviewed by The Capitalist Professor, George Reisman
There is no subject that more urgently needs to be understood in the world today than economics. Our well-being, indeed, our very lives, depend on the production of wealth.
The Legacy of The Dodd-Frank Wall Street Reform and Consumer Protection Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act, was based on a mistaken belief that the 2008 crisis stemmed from unregulated financial markets. It spawned hundreds of separate rulemakings and was the most extensive financial regulatory bill since the 1930s.
The Gold Standard and Monetary Freedom
The monetary central planners can never be more successful in determining a “optimal” quantity of money or the “right” interest rates to assure savings-investment coordination than all other socialist planners were when they tried to centrally plan agricultural production or investment output for an entire society.
Free-Markets and Globalization: The Long-Run Big Picture
Globalization is the process of bringing the entire world into the system of division of labor and thus into the system of social cooperation, of which division of labor is the essence. Its completion will mark the highest level of division of labor and social cooperation that it is possible for human beings to achieve, given the size of the world’s population.
A Course-Correction on Antitrust
Is the DOJ finally done playing games with the economy?
Tariff Advocates Rarely Talk About How Tariffs Punish Consumers
Politicians who support tariffs and other forms of government intervention in the economy frequently emphasize reshoring, trade deficits, cheap imports, and national security, but they rarely talk about consumers.
Progress In a Free Economy
The Industrial Revolution has allowed mankind to improve his environment.
Attack on the Space Titans: Musk, Bezos, and The Ethics of Economic Power
Most successful entrepreneurs become rich, not because of luck or having been handed extraordinary opportunities, but because they have worked productively.
President Donald Trump’s Trade Fallacies
The best policy is the full and uncompromising policy of free trade, regardless of what and how other governments interfere with and try to manipulate the exports of their own country.
High Prices of Prescription Drugs? Price Controls are Not the Answer
The federal government does countless things that increase prices for pharmaceuticals. If Trump wants to reduce drug prices, there are several steps he can take and steps that he should push Congress to take. Price controls are never the answer.
IMF SDRs and The Illusion of Inflationary Prosperity
SDRs are simply a mechanism by which to increase global currencies to meet the demands of governments to spend more than they are able to either collect in taxes or borrow from domestic and international creditors. It is a way for governments to continue to live and spend beyond their means.
The Moral Case for Globalization
Globalization is the relatively free movement of people, things, money, and ideas across natural or political borders.
How Can Profits Be Moral?
Many people have a dim view of profits; they see them as the result of immoral exploitation by business for selfish gain.
A Ten Point Analysis of The Trump-Bessent Plan to Reduce the U.S. National Debt
Objectivist Jim Brown opines on DOGE, deregulation, drill baby drill, tariffs, lower taxes, Immigration, a lower dollar exchange rate, lower interest rates, restructuring US Debt, & monetizing US assets, possibly through a sovereign wealth fund.
The Moral Case Against Tariffs – and for Free Trade
According to Rand, then, tariffs are destructive because they are a form of physical coercion by the government. They violate the citizens’ freedom to choose with whom to trade and on what terms and thus limit their ability to pursue their lives.
Do Reciprocal Tariffs Double-Down on Protectionism, or Promote Free Trade?
Economically, unilateral free trade remains beneficial even in the face of foreign tariffs.
Tariffs Don’t Save Industries — Free Markets Do
America’s industrial capacity is today at an all-time high — and not because of tariffs.
Protectionism and the Fallacy of Composition
Protectionism can’t enrich the country as a whole, only boost certain individuals and industries while impoverishing the rest.
Why Do Business Leaders Appease Their Enemies?
The fundamental reason for appeasing the critics of business is that company executives lack the moral argument for defense. As Ayn Rand argues in ‘The Sanction of The Victims,’ most business leaders have accepted the moral code of altruism.
Time To Privatize the United States Postal Service
Decades of ossification, political interference, and financial losses have left USPS in unsustainable position.
Bitcoin Bests $100,000
If Bitcoin is someday supplanted by another digital asset offering indisputable improvements, its foundational role in seeding and anchoring the cryptocurrency asset class — and in driving trillions of dollars of investment into similar and related assets and enterprises — will remain as significant, if not more so, than its contributions to the present.
Killing Thousands of Jobs: California’s Fast-Food Minimum Wage Law
California’s minimum wage law for fast-food workers is, like any such law, a price floor; it is a price control on labor.
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