"The art of economics consists of looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.
In Argentina’s case, it seems that old political habits of anti-capitalist policy die hard. So, no matter who ends up winning the presidency in October, the Argentine people are set to lose.
The question is not whether economic progress makes people happy. It makes them happier than they would otherwise have been. Most mothers feel happier if their children survive, and most people feel happier without tuberculosis than with it.
There seems to be an increasing consensus that a global recession is coming soon. The good news is that the Spanish private sector is much better prepared than it was in 2007.
Without a turn toward hard money, the odds are that the world’s dependence on the Greenback will not decline but presumably grow even more in the years to come.
We often hear that various government policies are justified because "the people want" this or "we want" that. This belief assumes that dissenting minorities don't matter at all. "We want" is usually nothing more than rank majoritarianism.
Richard Vague's new book on financial crises repeats many old myths about economic booms, while failing to understand the role of malinvestment and central banks.
Jim Crow policies and the eugenics-tinged racial purity theories behind them were at the heart of progressivism, something that few progressives today are willing to acknowledge.
