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Two Analogies for the Economy That the Media Keeps Getting Wrong

Blog05/30/2020

Ultimately, we need not rely on the government (i.e., the “king’s men” putting Humpty-Dumpty back together again). People acting freely in a marketplace could do it all by themselves. If only the government would let them.

Money Printing Inflation Fed

Defining "Inflation" Correctly

Blog05/30/2020

The real problem with inflation, properly understood is that it is essentially a wealth transfer away from the most productive parts of the economy. This causes bubbles and economic fragility.

An L-Shaped Recovery Is Not an Anomaly, It Is the Norm.

Blog05/30/2020

The massive bailout of indebted sectors that already had overcapacity and were in process of obsolescence may also drive the largest wave of malinvestment in decades. If the previous recoveries came with poor wage and capital expenditure growth and high debt, the next one will likely be even...

Minneapolis Riots Are a Reminder that Police Don't Protect You or Your Property

Blog05/29/2020

Police are not legally obligated to provide protection from criminals. Nor are they motivated to go after hardened criminals or investigate violent crime. Self defense (or private security) is the only reliable option.

Notes on Trump's Executive Order for Tech Companies

05/29/2020Power & Market

Executive orders are inherently suspect and generally bad, not simply because of (at this point laughable) constitutional concerns, but because they establish another layer of de facto "laws" for which you and I have little legal recourse. 

The German Court's Unexpected Blow to the ECB

Blog05/29/2020

A high German court recently ruled that the European Central Bank has overstepped the bounds of its power. The angry response from high-ranking European bureaucrats tells us a lot about what they want for the EU.

Nozick Once Again

Blog05/29/2020

If time preference is genetically built into humans, are they double discounting future goods? Does this mean people should stop trying to weigh time in their calculations?

Three Ways Lockdowns Are Costing Human Lives

Blog05/29/2020

If we do not correctly take into account the opportunity cost, in terms of lives that can be lost from lockdowns, then we will most likely continue to make bad decisions in the future.

3 Reasons States Will Reopen Regardless of What Trump Says

Blog05/29/2020

The reality of mandatory shutdowns is that state and local governments are now in the driver's seat, and that means that state and local politics is what really matters.

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