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Money and BanksMoney and Banking
The key factor behind the rate-of-exchange determination is the relative purchasing power of various monies.
Money and BanksTaxes and Spending
Some inequality arises naturally from freedom of choice. Some comes from government meddling. One is good and the other is bad. …
The Fed's policies over the past decade have resulted in a rapidly widening wealth and income inequality.
All the sophisticated quantitative methods by themselves can't help us understand the cause-and-effect of what's behind the boom-and-bust cycle.
Global EconomyMoney and BanksMoney and Banking
China’s stealth devaluation is not making the country more competitive, it is making household and corporate debt riskier as the purchasing power of the yuan is diminished.
In its blind search for the "correct" interest-rate policy, the Fed can't succeed in extending the boom indefinitely.
A strong GDP growth rate, in most cases, is likely to be associated with the intensive squandering of the pool of real wealth.
Expansions in credit and investment are only a problem when they result from inflationary monetary policy, and not from real saving.
Bureaucracy and RegulationMoney and BanksMoney and Banking
Rothbard: "if proponents of the higher minimum wage were simply wrongheaded people of good will, they would not stop at $3 or $4 an hour, but indeed would pursue their dimwit logic into the stratosphere."
When I left Soviet Russia in 1991, I thought I would never see a command-and-control economy again. I was wrong. Over the past decade the global economy has started to resemble one.