“‘People vote their pocketbooks’ is a misleading and potentially insidious approximation of voter behavior. A better approximation for modern times is ‘People vote for the candidate or party that provides a better story about themselves.’ That can be problematic itself, but when we bring economic performance along for the ride the problems only multiply. Putting our economic fortunes in the hands of politicians is a recipe for division and stagnation, every time.” ~ Max Gulker
READ MORE“By reevaluating the methodology used to report on the Sturgis rally, Black Lives Matter protests, anti-lockdown protests, Trump rallies, and so on, we can reach some more productive conclusions. There are certain things that are so significant and the tradeoffs favorable enough that they are worth braving a pandemic, such as Woodstock.” ~ Ethan Yang
READ MORE“Even more distressingly, 2020 is getting even deadlier. Violence, even murder, has increased of late, portending a potential shift from civil war games to actual civil war. And of course our civil liberties and what little fiscal and monetary discipline the federal government had left also died in 2020.” ~ Robert E. Wright
READ MORE“An implicit assumption undergirding the mandated NPIs is that ordering people to be confined at home and ‘socially distant’ from each other, despite the resulting massive disruption of economic and social activities, is the lowest cost means of protecting individuals from covid. But even if we grant here that mandated NPIs are an effective means of reducing the physiological harm caused by covid, they are not the only means of achieving this worthwhile outcome.” ~ Donald J. Boudreaux & Lyle D. Albaugh
READ MORE“The problem isn’t that the world’s poorest don’t work hard. The problem is that they work hard in societies where restrictions on economic freedom throttle growth.” ~ Art Carden
READ MORE“History is filled with many examples of financial and economic disaster that has followed government fiscal recklessness. It can happen even here, in America.” ~ Richard M. Ebeling
READ MORE“Lindbeck was a great economist and public voice of economic sanity. He will be sorely missed.” ~ Joakim Book
READ MORE“The key to getting wealthy in a capitalistic society is to produce something so valuable that millions of people want to trade for it.” ~ Raymond C. Niles
READ MORE“Money makes possible an incredible amount of interpersonal coordination in the market. Rules of private property and contract, of various kinds, predate money. But widespread market integration and economic growth only result when there is a critical mass of people in a single commercial network linked by money.” ~ Alexander W. Salter
READ MORE“For those who find stock price gains inexplicable and therefore terrifying, the Yardeni-Reynolds Model offers a purely empirical explanation of a seemingly high trailing P/E ratio – extremely low global inflation and bond yields combined with an artificially low P/E denominator of past earnings that includes the terrible second quarter of 2020.” ~ Alan Reynolds
READ MORE“Disasters and emergencies are bad enough without policies that make things worse. That’s exactly what price gouging laws are: rules that actually make these worse for the least of these among us by snuffing out the signals that would tell the rest of us precisely what is needed where.” ~ Art Carden
READ MORE“If credible and clearly articulated, an average inflation targeting regime would provide a better anchor for inflation expectations than a period-by-period inflation targeting regime. Alas, the Fed’s new policy strategy has not been clearly articulated, leaving short-run inflation expectations unanchored.” ~ William J. Luther
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