Daily Economy

Friday, August 3, 2018
When things don’t go our way, when institutions produce outcomes we find contrary to our conception of what should be, we seek out the culprit, the hidden hand making things as they are. Surely some powerful cabal manipulated the world to take the shape that it does. Nothing is random, spontaneous...
Friday, August 3, 2018
No one created that muddy track; it is the result of individuals going where they want to go. But if enough people walk there, it wears out the grass and makes the ground hard and packed down. The “path” emerges, although no one planned it.
Thursday, August 2, 2018
George Selgin speaks at the American Institute for Economic Research, July 28, 2018. 
Thursday, August 2, 2018
The cure for the deficit problem is not to hamper free trade but to replace the dollar as the international reserve currency with a private currency and to reduce America’s budget deficit, which absorbs the financial inflows from abroad.
Wednesday, August 1, 2018
The Manufacturing Purchasing Managers Index registered a 58.1 percent reading in July, down from 60.2 in June. Despite the pullback, the index remains well above neutral and is a positive sign for the manufacturing sector.
Wednesday, August 1, 2018
Cryptocurrency and blockchain technology in general face a particularly high hurdle when it comes to people’s developing an intuitive mental model.
Wednesday, August 1, 2018
What’s called “economic nationalism” is really just a cover for a political power grab and the manipulation of the public. The price is paid by you and me and everyone.
Wednesday, August 1, 2018
All policy discussions must recognize constraints. The hard part is knowing which constraints are relevant.
Tuesday, July 31, 2018
Total compensation costs for all civilian workers rose 0.6 percent in the second quarter, less than the 0.8 percent rise in the first quarter. Compensation-costs increases have trended higher in recent years however, the rate of increase remains moderate by historical measures.
Tuesday, July 31, 2018
The alarmists’ real concern is not the growth of population; it’s prosperity. Their concern is that the resources of the earth will be used up, and that humanity has to prepare by becoming fewer and poorer. But all the evidence points in the opposite direction.
Tuesday, July 31, 2018
All forms of government intervention — taxation and regulation — within a market economy are forms of government planning.
Monday, July 30, 2018
When aggression is military, each government attempts to protect its citizens from that which is unleashed by foreigners. But when aggression is economic, it is unleashed by each government against its own citizens. 
Monday, July 30, 2018
Moral norms that served small bands of humans well 10,000 years ago — share, cooperate, punish anyone who violates the rules — are no longer very good at helping people navigate commercial society.  Ask someone about price-gouging laws, or kidney sales, or generally talk about the role of price as...
Monday, July 30, 2018
This pillow is not only a tribute to good engineering and good sense; it is a credit to a commercial system that enables and rewards innovation in service of the better life.
Friday, July 27, 2018
Real gross domestic product rose at a 4.1 percent annualized rate in the second quarter, up from a revised 2.2 percent pace in the first quarter, while consumer-price increases decelerated in the second quarter. Overall, the very solid report suggests the U.S. economic expansion remains healthy.
Friday, July 27, 2018
Edward Stringham speaks to the subject of economic growth on the popular BBC show "Talking Business"
Friday, July 27, 2018
For the second time since the last election, there’s a growing effort to impose a carbon tax on Americans. Once again, this effort is being led not by the environmentalist left, but by conservative organizations and a small group of Republican legislators.
Friday, July 27, 2018
Many people regard the welfare state as a great achievement. Yet few recognize that the larger the welfare state becomes, the more the beneficiaries themselves must bear the costs. The beneficiaries must pay for what they receive, and they also bear the administrative expenses and must pay for the...
Friday, July 27, 2018
Central bankers need not merely be alert to market disequilibria. They must foretell, without the proper information, how the whole market will react to new conditions.

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