Honore de Balzac observed in seemingly acidic fashion that “Behind every great fortune there is a crime.” Eventually FDR latched onto Balzac’s nonsensical notion, and now it seems to be gaining currency among neo-Austrians. Austrian School economist Peter St. Onge is disappointly one of those. In a Twitter post, St. Onge asserted that “Federal spending, open borders, […]
Who Needs Balzac When We Have the Austrians? Read More »
In a video that’s gone viral, the late Milton Friedman correctly asserts about inflation that “consumers don’t produce it,” and “producers don’t produce it.” Only for Friedman to go off track with the observation that “too much government spending” does produce inflation. Ignored by Friedman was that governments aren’t some kind of other capable of extracting spending power from Pluto,
As Economists Do Now, Milton Friedman Got Inflation Wrong Read More »
Responding to the failures of Enron and Worldcom within six months of each other, failures that didn’t spook the markets much at all, President George W. Bush zestily signed into law Sarbanes-Oxley (legislation that most certainly did spook the markets), thus criminalizing failure in an economy that had long derived its dynamism from – you guessed
Does the Economy Really Perform Better Under Democratic Presidents? Read More »
Economists quite literally ascribe to themselves an ability to forecast the global economy. Any doubts about the previous assertion can be found by placing “global recession” into the search bar of your engine of choice. The arrogance of such a presumption is astounding. As is written here with some frequency, the mere notion of
There Are No Economic Forecasts, There’s Just Potent Fallacy Read More »
George Gilder writes that “Planetary prosperity depends on the outsized genius of a tiny minority of human beings.” He’s right, and this explains the urgent case he makes in The Israel Test
Book Review: George Gilder’s Brilliant ‘The Israel Test’ Read More »
Chevron recently announced that it is moving out of California after almost a century and a half in the state. No wonder, since Sacramento sued the company, along with a number of other oil companies, for allegedly deceptive practices.
The Supreme Court Must Stop Climate Extortion Schemes Read More »
“But in May 2015, Beijing went public with a 10-year plan to dominate high-value, high-technology sectors – with the unspoken goal of destroying America’s economic supremacy.” Those are the words of protectionist Florida Senator Marco Rubio from an opinion piece published in the Washington Post. On their own they require a pause. As history
With Marco Rubio’s Plans, Who Needs Central Planning? Read More »
It has always been said that Amazon killed off the local bookstore. How could what profoundly increased access to books and the fun of reading them have killed off local stores?
Like Tom Cruise With Movie Theatres, Amazon Saved Bookstores Read More »
Marks came to mind while reading a front page Wall Street Journal story in response to Friday’s employment report. It read along the lines of “Soft Hiring Will Tee Up Fed Rate Cuts.”
Why On Earth Would Soft Hiring ‘Tee Up Fed Rate Cuts’? Read More »
Donald Trump and Kamala Harris have both said that if elected president, they will block Nippon Steel’s planned, $14.9 billion acquisition of U.S. Steel. They’re not being leaders.
U.S. Steel: Trump and Harris Are Being Led, Not Leading Read More »
