U.S. Economy

It “was not inevitable,” writes Goldfield. Rather, it was “America’s greatest failure.”

The recently announced spending cuts are, in fact, less than 1 percent of federal spending, a token sum that does nothing to fix the long-term budget situation.

What they don’t understand: aggregation, relative prices, interest rates, capital structure, money pumping, and regime uncertainty, writes Ro

For a generation of people to find meaningful work, the government must embrace the Misesian prescription of a strict “hands-off” policy—rather than staying on the Keynesian drug.

What they don't understand: aggregation, relative prices, interest rates, capital structure, money pumping, and regime uncertainty.

Is cutting spending like repeating Herbert Hoover's errors? No, and saying it again and again doesn't make it true. The big-spending Hoover did more to intervene in the peacetime economy than any prior president. Indeed, he set in motion all of the things that FDR later did in the New Deal.

I happened to sit down next to a man last week who has been my benefactor for my entire life and the large part of his, and yet we had never met.

The illusion of wartime prosperity is rooted in how national income was calculated and in how the statistics were compiled, writes Art Carden.

John Wanamaker was the Gilded Age genius who pioneered the department store, the posted single price for goods, the money-back guarantee, and the p

The triumph of crony capitalism occurred on October 3rd, 2008. The event was the enactment of TARP — the single greatest economic-policy abomination since the 1930s, or perhaps ever. It was justified as a last-resort exercise in breaking the rules to save the system.