MARKETS

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.

Kudos to Trader Joe’s

Kudos to Trader Joe’s

By rejecting unfounded accusations and standing by its products and their marketing, Trader Joe’s (and indirectly, its customers) displayed all of them—and therefore has earned the designation as a corporate hero.

Gold and Free Banking versus Central Banking

Gold and Free Banking versus Central Banking

In the absence of government regulation and monopoly control, a free monetary and banking system would exist; it would not have to be created, designed, or supported. A market-based system would naturally emerge, take form, and develop out of the prior system of monetary central planning. 

Free Trade vs. The Folly of Protectionism

Free Trade vs. The Folly of Protectionism

Protectionism fully implemented across all industries would mean a lower standard of living, because it would result in capital and labor unnecessarily being diverted into the production of goods that could more economically be produced elsewhere.

A May Day Remembrance

A May Day Remembrance

The inescapable conclusion of the Mises-Hayek argument about socialist calculation is that an efficient socialist society cannot be designed.

United States Needs Freedom, Not Fascism

United States Needs Freedom, Not Fascism

America does not need the command-and-control planning authorized under the Defense Production Act to deal with the COVID-19 pandemic. Instead, it needs greater deregulation to free the entrepreneurial discovery process. In short, the United States needs more economic freedom, not fascism. 

Supply-Side Panglossians are Not Objective

Supply-Side Panglossians are Not Objective

Capitalism (and economic analysis) requires reason, not faith, facts, not what feels good. The supply side is the right side, but the Pollyannas must cease their bias and at least try becoming more objective. They must defend the right policies, not merely those imposed by politicians they deem to be in the right because they are on the right.

The Economy Needs Not Keynes or Kudlow But a Ventilator

The Economy Needs Not Keynes or Kudlow But a Ventilator

Today it’s no mystery why non-sober Keynesians like Paul Krugman might love the demand-side, anti-capitalist, Trump-Kudlow policy mix, or why Trump foes might eagerly insist that the economy remain closed, not to preserve the nation’s health but to dissipate its wealth (and the probability of Trump’s re-election). But why would Trump do this?  It seems politically suicidal.

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