Why “Majority Rule” Doesn’t Work
Even if whole regions of the country vote overwhelmingly against a president, they are still forced to submit to four years of that president’s rule-by-decree.
Even if whole regions of the country vote overwhelmingly against a president, they are still forced to submit to four years of that president’s rule-by-decree.
John Maynard Keynes is the best-known economist from the 20th Century, that not being a good thing. At least he was more famous for his success in promoting his views than for his lack of success as an investor. His failures were an extension of his lack of economic understanding.
Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered.
With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy.
While the US Constitution made the US a large free trade zone, prohibiting states from erecting trade barriers against each other, it also empowered the central government to erect tariffs on goods imported from outside the country.
Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered.
When the bankers called for a central bank in the US, they claimed to only want a way to stop bank runs. It turns out that they wanted—and got—much more. The permanent regime of inflation and asset bubbles is the result.
One sign of a fraying society is that its laws increasingly become political tools. The latest round involves Democrats trying to use criminal law in a very questionable way to try to put Donald Trump in prison, while Trump promises to retaliate if he is elected.
A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story.
Very difficult economic headwinds of the business cycle are coming right at us.
The Fed wants independence so it can serve the interests of the banker class. There is no higher principle here. There is only power.
Bob explains how future inflow of extraterrestrial riches could boost the standard of living on Earth in the near term.
The Fed claims things are going very well, but Fed Chairman Jerome Powell got three questions at the press conference that he had trouble answering honestly.
Ryan and Tho talk about what Donald Trump must do if he wants to actually fix our mounting economic problems of stagnation, debt, and inflation.
In its so-called war against “hate,” the state determines who are the villains and then instructs everyone else to hate the “haters.” As one might expect, the state then engages in a campaign of vilification and intimidation against the newly-designated enemy.
Legal philosopher Jeremy Waldron in his book The Rule of Law and the Measure of Property challenges the Lockean view of legitimate property ownership. David Gordon sheds light on Waldron's confusing positions.
Democracy, or at least the “democracy” that ensures the “right people” are elected, is the religion of American progressives. Despite its obvious failures, however, progressives claim that democracy is the Holy Grail of governance. Why people believe this is another question.
In its so-called war against “hate,” the state determines who are the villains and then instructs everyone else to hate the “haters.” As one might expect, the state then engages in a campaign of vilification and intimidation against the newly-designated enemy.