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Democratic Socialism Is Poetry, Not Economics
It is not serious thought to go around simply demanding that everything be free. That demand solves no problem that has occupied the world of economics for a thousand years. Try to implement it and someone, everyone, is going to pay – long lines, impossible high taxes, hyperinflation, material deprivation – and not through choice.
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How to Destroy the Value of Work and Property
Overstating how misinformed, unrealistic, and just plain wacky are the economics that underlie these proposals of Sens. Warren and Sanders is impossible. Also impossible to overstate is the amount of damage that enactment of these proposals would inflict on the American economy.
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The Bitter Logic of Political Choice
Not only does our politics drive a wedge between the public and the political community, but it places certain privileged political actors in a position to be tyrants over their fellow citizens. They govern over and not with others in the society under examination.
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A Revealed Preference for Money
People use money. That itself tells us something about why we shouldn’t eliminate it.
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Central Banking for the Unbanked?
A new proposal would have the Federal Reserve provide interest-paying no-fee deposit accounts to the public.
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Trade Wars and Monetary Policy
Trump’s trade war is heating up. How can the Fed ensure it doesn’t cool down our economy too much?
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