Daily Economy

Thursday, May 10, 2018
It is a rare film for dealing directly with a topic that Americans talk about often but think about hardly any at all: class distinctions and the barriers they create to social and economic mobility.
Thursday, May 10, 2018
"Anything that our eyes could see, that our noses could smell, that our mouthes could taste, and that our ears could hear had to fit the [communist] ideological framework. Quite literally, the state expropriated my body."
Thursday, May 10, 2018
Sound money and the progress of civilization are inexorably entwined. Those who would sever this link for the perceived short-run benefits of monetary macro-management and fine-tuning should beware of the harm they court.
Wednesday, May 9, 2018
We love to prognosticate, but it’s impossible to do so without severely glossing over the complexities of the real world. That leads us to false dichotomies, like “Blockchain technology will change everything” versus “Blockchain is all hype.”
Wednesday, May 9, 2018
Banknotes are useful. Not only do they provide their owner with a standard set of payments services, they also offer financial anonymity. How might a government price the anonymity component?
Tuesday, May 8, 2018
Under a new Vermont law, members of the military who earned a certification during their service won't have to waste time getting recertified for civilian licensed jobs.
Tuesday, May 8, 2018
The interactions and feedback loops between invention, implementation, and full-on adoption is a fascinating process to watch. It can’t be gamed. It relies on something no one can control: the price system, human choice, resource tradeoffs, and case-by-case circumstances of time and place.
Tuesday, May 8, 2018
Total job openings in the United States rose to a record 6.550 million in March while private-sector job openings totaled 5.928 million. Overall, the data relating to the labor market continue to show strength with payrolls rising, few layoffs, rising quits, and a declining number of available...
Monday, May 7, 2018
Californian cities such as San Bernardino, Stockton, and Vallejo have experienced bankruptcies over the past few years due to fast-rising pension costs.
Sunday, May 6, 2018
There are so many criminal laws in place, ranging from the silly to the outright absurd, that most Americans will become potential felons during their lives.
Sunday, May 6, 2018
It is the great presumption of public policy that some people with power, resources, and status can know what is true, and therefore what must be better. This is in contrast to the lowly actors in the marketplace who must deal daily with the problem of not knowing. To navigate life, to find...
Sunday, May 6, 2018
A distinction between theoretical and empirical price levels is useful for articulating why one might prefer a nominal-GDP-level target to a price-level target. 
Friday, May 4, 2018
Here is what is so amazing. It all happens without any central direction from the top down. In fact, we can go further to say that it could not happen under central direction. No government bureaucrat made this possible. They only get in the way. You need owners, marketers, manufacturers, prices,...
Friday, May 4, 2018
The federal jobs guarantee, as spelled out in Democratic policy circles, would arguably be the largest public intervention in the economy in American history.
Thursday, May 3, 2018
More people than ever are enjoying both travel and accommodation thanks to Uber and Airbnb. It's a mistake to think that the solution is to protect incumbent businesses from this creative disruption.
Thursday, May 3, 2018
A market economy without money would not be able to achieve a division of labor sufficient to make it worthwhile.
Wednesday, May 2, 2018
Taking a page out of Orwell's 1984, the state of Delaware is testing a mobile driver’s license program that enables law enforcement to keep track of citizens at all times.
Wednesday, May 2, 2018
The years between 1890 and the Second World War were the golden age of the American piano. Pianos were the biggest-ticket item on every household budget besides the house itself. Everyone had to have one. Those who didn't have one aspired to have one. It was a prize, an essential part of life, and...
Wednesday, May 2, 2018
Hayek’s commodity reserve standard would automatically serve to stabilize prices and output. In our discussion of rule-based monetary policy and sound money, the mechanics and principles guiding Hayek’s proposal deserve careful consideration.
Tuesday, May 1, 2018
A recent NBER paper calls into question the standard narrative of the financial crisis.

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