In a recent blog post on Alt-M, an alternative money website, Lawrence H. White, a senior fellow at the Cato Institute and professor of economics at George Mason University, discussed how two groups—Baptists and bootleggers—have largely become one and the same. He referred to the two types of groups that tend to spearhead prohibitions, the former on ethical grounds, and the latter with the goal of eliminating legal competition. In the blog post, the prohibition he is concerned about is on the use of cash.
READ MORENew technology can both disrupt and entrench existing large and powerful players in a market. In a previous article, I explained the importance of blockchain technology. A blockchain is a type of database that is distributed to all users without a centrally managed hub and that stores unalterable digital records. It is most commonly known today as the technology underlying bitcoin, keeping records of the cryptocurrency’s ownership and allowing ownership to be transferred.
READ MOREAt the height of the housing bubble in 2005, both existing and new home sales reached all-time highs—7 million for existing home sales for the year and nearly 1.4 million for new home sales. To put the housing bubble in perspective, new home sales increased three-fold from their low in 1991 to their high in 2005. Home prices as measured by the Standard & Poor’s Case-Shiller Home Price Index rose more that 200 percent between the mid-1990s and the height of the housing bubble.
READ MOREThe socialist Bolivarian Revolution in Venezuela led by its late president, Hugo Chávez, appears to have failed. The Venezuelan economy has collapsed and hyperinflation has destroyed the country’s currency. The economy contracted over 10 percent in 201 …
READ MOREHow does federal money get distributed to the states, and where does it go? This is a question that has been looked at recently by Ryan McMaken on the Mises Wire blog, by Tax Foundation and Pew Charitable Trusts studies, and by an analysis …
READ MOREOver the past year, I’ve had the opportunity to supervise four college students from local colleges who interned at AIER. Under my supervision, each of them identified, analyzed, and reported on a key innovation in a specific industry. Innovation is a …
READ MOREIn an article published in AIER’s January 1996 Research Report, Thomas Lehman wrote, “The present immigration policy of the United States amounts to nothing less than a tariff or barrier to entry on the commodity of labor, and harms American consumers …
READ MORECol. E.C. Harwood, AIER’s founder, was a staunch defender of the gold standard and a harsh critic of fiat money, or money that the government declares is legal tender. He understood the dangers of allowing monetary authorities unbridled influence over …
READ MOREThose who dream of a world with greater economic freedom have traditionally relied on the pen, the ballot box, and sometimes the sword to effect change. But a relatively new technology called blockchain may make the computer a potent tool to achieve greater liberty.
READ MORE“When adversely affected minorities are politically powerful, governments often intervene with special-privilege legislation to insulate the “injured” parties from the effects of international cooperation or to give them special advantages in the inter …
READ MOREAmericans’ cost of living fell relative to their earnings on average in 2016. Even though inflation ticked slightly upward, average wages grew faster. The Consumer Price Index, which measures price changes in goods and services, rose 1.7 percent. That was still low in historical terms but the second highest annual increase in the past five years. But the 2.9 percent increase in average wages was the largest wage gain over that five-year period.
READ MOREFinancial wellness has become a popular topic with policymakers, human resources departments, and the financial media. The concept is simple: Just as with physical health, financial wellness assesses your ability to support yourself into old age.
READ MORE250 Division Street | PO Box 1000
Great Barrington, MA 01230-1000
Press and other media outlets contact
888-528-1216
press@aier.org
This work is licensed under a
Creative Commons Attribution 4.0 International License,
except where copyright is otherwise reserved.
© 2021 American Institute for Economic Research
Privacy Policy
AIER is a 501(c)(3) Nonprofit
registered in the US under EIN: 04-2121305