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Jeffrey Tucker

Those Shepherds Abiding in the Fields Were Private Security Workers

People talk like capitalism is some strange foreign invader, a mechanical system that was imposed on the world a couple hundred years ago, fueled by burning coal and emitting smoke, and certainly not anything organic to the social order. This is preposterous. The Christmas story that surrounds us in this season, told millions of times […]

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Joakim Book

What Is Money? It’s All About Liquidity

When I give my sister a nonfiction book for Christmas, neither of us presumes that she’ll use it in payments for food, rent, clothes, travel, or something else that she desires. Indeed, you’d be hard pressed to find anybody who’d accept a 300-odd-page chunk of paper adorned with the Penguin Press stamp in exchange for anything, so […]

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Gerald P. Dwyer

Negative Nominal Interest Rates: Just Say No

Not willing to let a terrible proposal die, President Trump has reiterated his suggestion that the United States would be better off with negative nominal interest rates. In a line that generated laughter, he said, “Many [in the eurozone] are actually getting paid when they pay off their loan.… Who ever heard of such a […]

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Jeffrey Tucker

If There Was a War on Christmas, It Flopped

You worry about the commercialization of Christmas? Christmas began in commerce – a mysterious and transcendent exchange in which eternity gave to time the greatest gift.

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