Federal prosecutors and other law enforcement agents are turning blockchain firms into government subsidiaries. The real goal is to criminalize what really are lawful, private exchanges.
Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.
Even under chattel slavery, inequality was still pervasive. Carpenters, sugar boilers, blacksmiths, cabinetmakers, and rum distillers constituted an elite core of slaves.
Student debt is a huge social problem, but the reason is that higher education costs themselves have become a major problem and are a financial burden whose costs outweigh its benefits.
Speculators are reviled in the media and by politicians and academics. Yet the speculators are the ones taking risks to ensure the rest of us can have more economic certainty.
In 1944, F.A. Hayek's best-selling book, The Road to Serfdom, warned the West that the "free" nations would lose their freedom as government expanded. He was right.
Social democrats are so desperate to cast off limits on government that they'll embrace anything that justifies their ambitions. So they invent theories of money that are very, very wrong.
Forcing the minimum wage above the real market wage causes more unemployment. Small businesses suffer from these mandates as do the least productive workers.
While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse.
Banker and financial expert Caitlin Long believes that fractional reserve banking is closer than ever to collapse, and she has a 100 percent reserve banking solution in progress.
