Economic Policy

Everything from huge Keynesian "stimulus" policies to the war in Ukraine is dovetailing in a bout of stagflation: the simultaneous growth of inflation and unemployment.

The Keynesian "stimulus" policies were suppose to reinvigorate the economy. Instead, they have brought stagflation.

The world is in chaos, so politicians MUST do something. Hence, they demand autarky, which is like attempting to put out a fire by pouring gasoline on it.

The world is in chaos, so politicians MUST do something. Hence, they demand autarky, which is like attempting to put out a fire by pouring gasoline on it.

Critics of free markets claim that capitalism causes poverty. After economic restrictions against India's Dalits caste were lifted, many Dalits were able to secure a better life and rise from poverty.

Steven Kates's new book debunks Keynesian demand-side economics, while striving to resurrect Say’s Law and revive the classical understanding of the economy.

The behavioral economics-based "new development economics" is just like the old development economics, say Espinosa and Carreiro. The Austrian theory of dynamic efficiency offers a useful path forward.

Presented at Mises University 2021.

The chronic US trade deficit is a direct result of the dollar’s status as the world’s main reserve currency and unabated monetary increases in government spending. More tariffs won't change that. 

Why have prices of building materials soared while consumer prices are relatively stable? This is easier to understand once we reject the myth of monetary neutrality and see how price inflation enters the market in different ways.