The real money-creating machines are commercial banks. Loan dollars become deposit dollars. Lots of lending means the money aggregates increase. Little lending means the opposite.
Big GovernmentThe EnvironmentSocialism
You don’t make people better off by artificially making energy more expensive. You only make them poorer.
Bureaucracy and RegulationU.S. History
The number of jobs that require an occupational license now covers 30% of the US workforce, up from 5% in 1950.
Money and BanksMoney and BankingPhilosophy and Methodology
Economic theory must have only one purpose — to explain economic activity. However, statistical methods are of no help in this regard.
The effort to nullify gun laws at the county level illustrate how the relationship between citizens and government can be quite different at a more local level.
Media and CultureSocialismThe Police State
Socialism, democratic or otherwise, rides on the back of force and violence. When they drop the veil, its a government agent pointing a gun.
Big GovernmentBook ReviewsStrategy
Joseph Stiglitz has written a new book that calls for massive state control over the economy.