Legal SystemU.S. HistoryPolitical Theory
Federal laws against free association of dairy producers has created a deeply distorted and unresponsive market.
Thanks to tax policy, the South and West are growing much faster than the old baseball heartland in the Northeast.
Today is Ralph Raico's eightieth birthday. He is the greatest living historian of classical liberalism and a leading libertarian theorist.
Corporate WelfareTaxes and SpendingPolitical Theory
Gas station owners have come up with a creative way to take more of their customers' money via the power of taxation.
Money and BanksMoney and Banking
Increasing the money supply leads to many negative effects that are not measured as price inflation in measures like the CPI.
The FedMoney and BanksMoney and Banking
Some inflation hawks are beginning to speak up at the Fed. But will they be enough to put the brakes on the current easy-money experiment?
Global EconomyMoney and BanksMoney and BankingPolitical Theory
The world monetary order is changing. Slowly but steadily, global trade and currency markets are becoming less dollar-centric.
As the 2016 election draws near, the elephant in the room continues to be central banks and their immense power.
World HistoryPhilosophy and MethodologyPolitical Theory
When anti-capitalist leftists expound on the evils of "neoliberalsm," they are usually just attacking freedom and free markets in general.
Far from being neutral, inflation leads to changes in political institutions, and these changes push up unemployment over time.
U.S. HistoryPolitical Theory
It is often argued that democracy replaces violent political changes with peaceful ones, but this is not quite as convincing as we are told.
Big GovernmentMedia and CultureWar and Foreign Policy
All of this has happened before, and all of this will happen again.
With an election coming, the Fed has lost its enthusiasm for raising interest rates, much to the benefit of the incumbent party.
Booms and BustsMoney and BanksMoney and Banking
There are really two types of asset-price-inflation periods. One is the "boom" type, but the other is the current "depression" type.
Regulation makes many firms larger and more bureaucratic than they would otherwise be.
The Homestead Acts are often held up as proof of how wise and prudent the federal government can be. The actual history of the Acts is less impressive.
Booms and BustsThe FedBusiness Cycles
Joseph Salerno spoke on "Why Falling Prices Are Good for Business" at Ramapo College in New Jersey on October 4.
Legal SystemPolitical Theory
From the state to private corporations, many groups benefit from marijuana prohibition. And, they will fight to keep marijuana illegal.
It is impossible to isolate the "natural rate" and policies aimed at an unknown interest-rate target end up increasing instability.