Free MarketsOther Schools of ThoughtPhilosophy and Methodology
The FedFinancial MarketsMoney and Banks
Central banks pretend all these benefits come at no cost to anyone. Unfortunately, we all ultimately pay the price.
Global EconomyMoney and BanksMoney and Banking
The depreciation of the yuan since 2014 is more of a response to market movements than a planned devaluation to gain competitiveness illegitimately.
Free MarketsGlobal EconomyInterventionismOther Schools of Thought
Protectionism and Free Trade
Today's tariff policy relies on the fanciful idea that politicians can pull the right levers to make the economy more efficient or more just. As always, the idea is based on fantasy.
Governments love to use war analogies, framing themselves as the heroes fighting the bad guys. But when it comes to trade wars, governments are the bad guys, and individuals are the victims.
Booms and BustsFree MarketsGlobal EconomyWorld HistoryInterventionism