A federal price gouging law would not lower inflation because it does nothing to address its cause.
Founded in 1997, the trust owns and maintains a collection of over 1,500 first or early editions of great books and manuscripts, mostly published before 1900.
It is important to recognize that the dollar value of production of final goods in an economy is not identical to the well-being or living standard of the residents of the economy, although the two are inevitably related.
Ongoing access to resources is necessary for any broadcast, publication or communications network to be viable.
When the U.S. government “weaponizes” the dollar, the certainty of dollar redeemability is eroded, as is its desirability as a currency.
When the money supply increases faster than the output of goods and services, people spend the excess money. This causes prices to rise and the value of money to fall.
There are two ways a country can obtain a good or service. Both require it to use its scarce domestic resources—notably its land, labor and capital—to that end.
The great economist Walter Williams said the primary economic justification for government is to protect its citizens from thugs, both foreign and domestic.
After Vietnam, Iraq and Afghanistan, the USA hasn’t the political will to engage in another war.
One of the marvelous attributes of a profit-driven system of free enterprise is that a crisis often spawns productive innovation.
The best way to assess how our policymakers have performed is by gauging how well they have kept the dollar value of income in the economy—what economists call nominal gross domestic product (NGDP)—growing on its expected path.
But what if a majority of voters or their legislative representatives think universities, or, for that matter, K-12 schools, should or should not teach certain ideas?
A major contribution Milton Friedman made to economics was his observation that most people don’t spend as much out of their windfall gains as they do out of increases in income that are more permanent.
It is no accident Ball State is targeting older, longer-tenured and higher-paid employees to reduce its costs.
Price ceilings are self-defeating because they short-circuit the very process that mitigates the initial supply disruption.
Businesses are always greedy. Sometimes, greed causes businesses to lower prices; other times, to raise prices.
The primary way billionaires contribute to our well-being is not through their charity or beneficence. Rather, it is by the innovations they typically introduce.
We are very pleased that President Biden plans to reappoint Jerome Powell as chairman of the Federal Reserve Bank. With all the economic uncertainty from the COVID omicron variant, rising inflation, supply-chain struggles and fiscal imbalances, this is not the time to rock the boat at the Fed with a new and untried leader.
When you reduce criminal penalties and stop prosecuting thugs, don’t be surprised when crime soars.
Plymouth Plantation, home of the Pilgrims of Thanksgiving fame, was founded in 1620 under a system of communal property rights. But that system didn’t last long.