Daily Economy

Sunday, September 9, 2018
"The much-heralded 'postwar consensus' created this problem, out of misguided dreams of a caretaker state that managed the whole of life for everyone in who manages to fit within its inflated geographic orbit. The dream was too big, too expansive, too expensive, and it used the wrong means (force...
Saturday, September 8, 2018
Politics promised to give us a meaningful life. It failed. Now we have to find it elsewhere. As the poet Virgil led Dante through Heaven, Purgatory, and Hell, Jordan Peterson is the tour guide of the modern world in its confrontation with our inner selves.
Friday, September 7, 2018
A number one fallacy in the history of economics is the labor theory of value. The idea here is that things and actions are made valuable by how much work we put into making them. Sounds intuitively right. It’s completely wrong. Things have value because you and I value them, regardless of labor...
Friday, September 7, 2018
U.S. nonfarm payrolls added 201,000 jobs in August bringing 12-month total to 2.33 million new jobs while hourly earnings rose 0.4 percent for a 12-month gain of 2.9 percent, the fastest since 2009. Broad-based gains in the labor market are providing support for consumer confidence, consumer...
Friday, September 7, 2018
Collectivism left horrifying stains on the 20th century. With the new technologies of supervision and control now available, the dominance of collectivist beliefs in the new century would be outright devastating. It is time to ban the curse of collectivism. We need an individualist turn in...
Friday, September 7, 2018
This is perhaps the first lesson, and the most important, that students learn in economics.
Thursday, September 6, 2018
The ISM’s nonmanufacturing index rose to a reading of 58.5 from 55.7 in July. The results suggest the nonmanufacturing sector continued to grow in August. That performance is in line with the report for the manufacturing sector and other recent data that point to ongoing expansion for the overall...
Thursday, September 6, 2018
The real story of New Deal income tax policy is a revenue grab sustained by the expansion of income tax eligibility and enforcement onto the masses.
Thursday, September 6, 2018
This isn’t a ponzi scheme, conspiratorial black box, or “animal spirits” run amok. This, my friends, in all its messy and occasionally terrifying glory, is a market.
Thursday, September 6, 2018
You might observe that this is the free market’s way to co-opt the anti-racist movement on behalf of capitalist profits. But maybe that’s not a criticism. Maybe that’s a way to get the message out and make it more culturally operational.
Thursday, September 6, 2018
A fixed money supply is not a good monetary rule. Efforts to move toward more elastic supplies should be welcomed.
Wednesday, September 5, 2018
The flourishing of commerce means the flourishing of everything we call civilization.
Wednesday, September 5, 2018
Under a regime of democratic socialism, for an individual to have the opportunity for any such changes in many aspects of life, it would be necessary for him to change enough other minds that the next time voting is held on these issues, new decisions would be made about these everyday matters.
Wednesday, September 5, 2018
J.P. Koning argues that the U.S. government should issue—and tax—$500- and $1,000-denomination notes. James McAndrews, Joshua Hendrickson, and William Luther respond.
Tuesday, September 4, 2018
The Manufacturing Purchasing Managers’ Index registered a 61.3 reading in August, the highest reading since 2004. All five components of the PMI showed stronger readings in the latest month. Today’s report suggests a positive outlook for manufacturing.
Tuesday, September 4, 2018
Uber is now even defending the rights of those who want to be drivers but who don’t have the money to get expensive driving permits.
Tuesday, September 4, 2018
“Voluntary collective action” should be our motto. This obviously includes markets, to be sure. But there is no reason to cede the vitality, attractiveness, and exuberance of the non-profit independent sector to ownership by the state. Voluntary private organizations belong to everyone.
Tuesday, September 4, 2018
Financial privacy does not get much attention from central bankers. But questions about privacy are becoming increasingly important.
Monday, September 3, 2018
Bitcoin and crypto in general are especially susceptible to shady operations. People assume two things about this sector: 1) it is too hard for normal people to understand, and 2) if you are not in, you are missing out. This is a perfect opportunity for the con man.
Monday, September 3, 2018
Right now, there are few legal avenues for low-skilled immigrants to work and live in the United States. And the avenues that do exist are too bureaucratic to be usable. So when people tell you they want undocumented immigrants who currently reside in the U.S. – and who clean our homes, mow our...

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