Politics

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Perhaps John Maynard Keynes’ best con job was convincing people that a growing economy needs inflation, lots of inflation. As David Gordon points out, however, Ludwig von Mises eloquently explained why inflation undermines the free market economy.

No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing, praxeologically speaking. Instead, it clouds our understanding of how money fits into our economy.

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President-Elect Trump has been threatening tariffs against BRICS countries unless they abandon their plans to abandon the US dollar. While Trump may come off as being “tough” in his negotiations, he cannot bluster his way to a stronger dollar, thanks to reckless monetary policies.

Britain‘s new Labour Government is doing what leftist governments always do: raising taxes on everyone, but pretending that only the wealthiest citizens will pay more. Middle-class British farmers are quickly finding out that the taxman is coming for them too.

Social critics often tell us that capitalism is contrary to the true meaning of Christmas. In truth, markets and entrepreneurs work to make Christmas more joyous and comfortable.

Commercial real estate in the US faces major problems despite efforts by the Federal Reserve System to prop it up. Bonds used to finance commercial real estate markets are being hit especially hard, and there is no relief in sight.

As we see from Jamaica‘s experience, attempts by the government to be entrepreneurial misallocate resources, waste money, and achieve poor results.

By misusing statistics, the government claims that racial disparities are always caused by racial discrimination and that these disparities can only be rectified by state-directed outcomes. However, government programs have made things much worse.