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.
The economic principle of revealed preference comes into play: what people do reveals their preferences. In the family’s own estimation, they are better off!
We’re sure the progressives will assure us they are only proposing going after billionaires and other fat cats who are able to pay.
Another benefit of a robust labor market is that it gives employees, even those with few skills, the luxury of moving from one job to another, picking up new skills along the way and likely enhancing their lifetime productivity.
It’s been some 40 years since the United States has experienced significant inflation. However, the phenomenon of an accelerated rise in the general price level is rearing its ugly head.
Conditions today are ripe for another stagflation episode.
Many well-meaning American donor organizations have organized and financed community water projects in poorer nations. Too often these efforts have failed.
Before we get too cocky, we’ll be the first to admit that some of our predictions haven’t quite worked out.
First, let’s all stop vilifying one another. Progressives are not barbarians, conservatives are not oppressors, and classical liberals are not anarchists.
When bond repayments come due, taxpayers in the future must reduce their consumption.
In the villages with the mask campaigns, 43% of adults wore masks in public venues and 29% socially distanced, whereas only 13% wore masks and 24% socially distanced in villages that had no campaigns.
In 1940, deaths among those 65 years old and older were 9,719 per 100,000; by 2019, they had dropped to 4,753 per 100,000, a decline of over 50%.
Fast forward to 2021 and we suspect most of our readers have noted the shrinking sizes of goods, which has become particularly conspicuous at the grocery store over the last few months.
A bit of background: Afghanistan is a tribal society dominated by tribal leaders and subject to tribal conflicts. This makes establishing an effective national government difficult.
Most obviously, the eviction moratorium protects the housing security of millions of Americans who lost their incomes during the pandemic through no fault of their own. However, by distorting the incentives for tenants and landlords, the moratorium also creates some unintended and undesirable consequences.
Value is subjective. This means we cannot know the reasons other people make the choices they make.
The one major fact that will shape labor markets: the underlying change in age demographics in the United States, which has little to do with either ideology or government policy.