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.
You can stretch a rubber band only so far, until it breaks. Our debt will wreck our children’s lives.
To the extent capitalism fosters the creation of wealth – a truth denied today only by the hopelessly biased – it also fosters the creation of health.
Higher prices charged have a couple of unappreciated benefits.
The false principle that fueled Trump’s trade war relates closely to his authoritarian response to the Wuhan (Covid-19) virus.
If there were no price controls or threat thereof, prices in the present situation would be high enough to keep stocks on the shelves.
With the stock market now crashing and many people facing unemployment in the wake of the ongoing pandemic, governments are reacting with a variety of measures allegedly aimed at stabilizing the markets and promoting economic security. What effects will these measures have on the economy? Will they address the root causes of the crash–or might they aggravate the situation.
When there is a shortage of medical supplies, going out of our way through nationalism, mercantilism, and “protectionism” to make them more expensive will hurt people. Free-market capitalism and free-trade amongst nations is the rational solution.
Economic nationalists seem to be applying Rahm Emanuel’s now famous phrase of ‘never letting a serious crisis go to waste’ in the service of a political agenda that might be harder to push in calmer times.
The shelves aren’t empty because of free-market capitalism. They’re empty because of active interference with free-market capitalism.
Prices should rise during emergencies. That’s because prices aren’t just money; they are signals, information. They tell suppliers what their customers want most.
Judy Shelton is a high-class, high-quality economist, who should join the Fed not so much to burnish its image but to keep it at least a little bit honest and real. The Fed today doesn’t really deserve Shelton, but Shelton deserves a top place at the Fed.
The government should have no business in controlling drug prices or regulating drug development.
Instead of finding (temporarily expensive) masks available for sale, we are confronted by “No masks available” signs everywhere we look.
Freeman depicts capitalism as a system where businesses focus on maximizing short-term stock price.
On CEOs celebrating the “death” of capitalism.
These insights into the nature of the market process are part of Israel Kirzner’s lasting legacy to our understanding of the workings of the economic order.
Say’s Law and Saysian economics go hand in hand with a political-economic-philosophical appreciation for capitalism – for rationality, the pursuit of self-interest, entrepreneurialism, profit-making, private property rights, the rule of law, and constitutionalism.
Thomas Sowell discusses poverty around the world and in the United States. Poverty in America, he says, compared to the rest of the world, is not severe. Many poor people in poverty in the United States have one or two cars,...
Economics is fun and simple. It’s made complicated by some economics professors. Let’s apply some simple tools of economics to reveal outright myths, lies and tricks.
Sustainable finance as imposed through government regulation harms human flourishing by violating the investors’ freedom to choose.
Blockbuster’s demise began when it charged a man named Reed Hastings $40 in late fees. That annoyed him so much, he started a subscription-based, mail-order movie rental company he called Netflix.
“I don’t think that billionaires should exist,” Sanders explained. The crusade’s rallying cry: “Abolish billionaires.” To that end, Warren and Sanders have each proposed special taxes on the ultra-rich.
Joseph A. Schumpeter is identified with two related ideas, the notion of the innovative entrepreneur and the imagery of the competitive market as a process of creative destruction.
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