Self-Driving Cars and the Nirvana Fallacy

– August 17, 2022

“While these cars may not be perfect, that would only mean they are well-suited for planet earth, where perfection only exists among the Platonic forms—and in the minds of D.C. regulators.” ~ Caleb S. Fuller

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What is Market Urbanism?

– August 15, 2022

“Scott Beyer’s Market Urbanism offers welcome analysis and policy solutions, clearly explaining how free market alternatives can make our cities better for all their citizens.” ~ Robert F. Mulligan

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Should the Federal Reserve Set its Own Goals?

– August 12, 2022

“A target that is not determined solely by the Federal Reserve is less subject to changes solely due to deliberations at the Federal Reserve. It will enhance monetary policy’s effectiveness.” ~ Gerald P. Dwyer

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Making Sense of the Recession

– August 10, 2022

“Unemployment, for good reason, lags the onset of recessions. And assuming that a widespread burst in employment categorically signifies optimism or portends a quick resumption of economic growth is simply unwarranted.” ~ Peter C. Earle

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Reich Strikes Out

– August 10, 2022

“According to Reich, higher prices are due to the pandemic, which suppressed demand and created global supply chain problems, together with Russia’s invasion of Ukraine, China’s overzealous lockdown policies, and of course, capitalist greed.” ~ Robert F. Mulligan

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Bitcoin and the Cost Fallacy

– August 4, 2022

“Energy cost doesn’t put a floor under the price. Instead, it is the price that influences the energy cost. The price of bitcoin is just about supply and demand. Same as it ever was.” ~ Joshua R. Hendrickson

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There Are Good Reasons for Monetary Rules

– August 3, 2022

“A good monetary rule does not only identify an appropriate course of action in advance. It also requires monetary policymakers to take that course and, in doing so, reduces the uncertainty businesses and consumers face.” ~ Nicolás Cachanosky

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Price Ceilings of $0

– August 2, 2022

“Whatever particular objections might be raised to legalization of the likes of prostitution or the selling of transplantable body organs, clarity of thought is enhanced by recognizing that the prohibitions in question are really price ceilings of $0.” ~ Donald J. Boudreaux

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A Simple Guide for Aggregate Demand Management

– July 31, 2022

“We’ve advanced little beyond the classical-liberal prescriptions of free markets, sound money, and peace. ‘Keep it simple, stupid,’ is good enough for government work.” ~ Alexander William Salter

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The Strange Definition of Recession Is the Best We Have

– July 29, 2022

“The reality is that the reason many use the flawed rule is because all other alternatives seem to be worse. As such, politicians and pundits who try to downplay talks of a recession by mentioning the flawed rule may be politically, and not economically inclined.” ~ Vincent Geloso

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From Republic to Democracy to Kakistocracy

– July 25, 2022

“So how do we get from a republic to a democracy, and how does democracy become a kakistocracy during a period when democracy is so highly praised?” ~ Gary M. Galles

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Not so Modern Monetary Theory

– July 24, 2022

“If the issue of an unbacked or insufficiently-backed currency exceeds the amount needed to pay the tax, and even exceeds the amount in demand as a medium of exchange, the value of that currency will fall (or, there will be inflation).” ~ Gary M. Pecquet & Clifford F. Thies

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