MARKETS

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.

Fed’s Rocket Ship Turns Hoverboard

Over the past year, while the U.S. economy has continually missed expectations, Federal Reserve Chairwoman Janet Yellen has assured all who could stay awake during her press conferences that it was strong enough to withstand tighter monetary policy. In delivering...

Failure to Launch

The popular belief that the U.S. economy has been steadily recovering has endured months of disappointing data without losing much of its appeal. A deep bench of excuses, ranging from the weather to the Chinese economy, has been called on to justify why the economy...

The Free Market versus the Bureaucratic State

The Free Market versus the Bureaucratic State

As Ludwig von Mises explained, an enterprise or activity is either guided by the pursuit of profit or it is not: Make profits by satisfying consumers better than the market supply-side rivals or meet the legislative mandate of the government bureau or agency by following the rules and procedures specified in your job description.

America’s National Debt Bomb Caused by the Welfare State

America’s National Debt Bomb Caused by the Welfare State

The Federal debt has now crossed the $19 trillion mark. When George W. Bush entered the White House in 2001, Uncle Sam’s debt stood at $5 trillion. When President Bush left office in January of 2009, it had increased to $10 trillion. Now into seven years of Barack Obama’s presidency, the Federal debt has almost doubled again.

Carl Menger and the Foundations of Austrian Economics

Carl Menger and the Foundations of Austrian Economics

Carl Menger is a towering figure, not only for the development of his variation on the “marginalist” theme, but for originating a still unique and distinct and highly relevant approach to economic and social analysis that still rightly bears the name, the “Austrian School.”

An Escalating War on Cash

Investors should be aware of such possibilities and consider whether to hold cash and precious metals prudently outside the banking system. Better to be even months too early than a second too late should we be left facing a bank’s closed doors.

Bill Gates Against Capitalism and Freedom

Bill Gates Against Capitalism and Freedom

I wish that people who make millions or billions of dollars, such as Bill Gates, would stop denigrating and seeking to undermine the very system that enabled them to be successful in the first place: capitalism.

Self Interest and The “Common Good”

Self Interest and The “Common Good”

A common exhortation heard today is: Set self-interest aside and act for the “common good.” Businesspeople in particular are accused of selfishness and are told (by media commentators, NGOs, and ethicists, among others) to serve the “common good.” This exhortation...

Lifting Sanctions on Iran a Mixed Bag

From a financial perspective, the New Year has been anything but happy. As of January 20th, the S&P had fallen over 9% since the beginning of the year, to levels not seen since 2014,reflecting a loss of some $2 trillion in market value. Compounding matters was the...

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