The Chimera of a Postpandemic Postwar Return to Monetary Normal
Government and monetary authorities claim that the worst of the postcovid lockdown disruptions are past and a "return to normal" is just around the corner. It will be a very long corner. Original Article: "The Chimera of a Postpandemic Postwar Return to
Yes, the Minimum Wage Harms the Economy
The 2021 Nobel Prize in Economic Sciences was awarded to David Card, Joshua Angrist, and Guido Imbens. David Card received the award for his paper (coauthored with Alan Krueger) “Minimum Wages and Employment: A Case Study of the Fast-Food Industry in
Yes, Virginia, There IS a Deep State—and It Is Worse than You Think
We like to think of the "deep state" as a conspiratorial entity. In reality, the term describes much of what the federal government does in broad daylight. Original Article: "Yes, Virginia, There IS a Deep State—and It Is Worse than You Think" This
The True Costs of a US-China War for Taiwan
Ryan McMaken and Zachary Yost discuss new estimates of just how costly a US-China war over Taiwan would be. Things are made even worse by the fact the US is already shopping most of its weapon stockpiles to Ukraine. The
European Shadow Unemployment Is a Real Problem
The latest jobs report in the United States shows strengths and weaknesses. Total nonfarm payroll employment increased by 223,000 in December, and the unemployment rate fell to 3.5 percent. However, the United States job market continues to show negative real
Real Wages Fall for the Twenty-First Month as Rent and Food Prices Keep Rising
The Federal Reserve has yet to get price increases anywhere near its own arbitrary 2-percent goal, but a mild slowing in growth rates has Biden claiming that price inflation is "falling." Original Article: "Real Wages Fall for the Twenty-First Month as Rent
Mastering the Future: The Megalomaniacal Ambitions of the WEF
The fifty-third annual meeting of the World Economic Forum (WEF) brought together fifty-two world leaders, seventeen hundred corporate executives, sundry artists, and other personalities to address “Cooperation in a Fragmented World.” Fragmentation is the nemesis of the World Economic Forum
Wholesale Price Inflation Is Slowing as Economy Worsens
The US Bureau of Labor Statistics released new Producer Price Index (PPI) data on Wednesday, and it looks like the rate of increase in price inflation is slowing. Nonetheless, year-over-year price inflation in December remained near 40-year highs, and shows the marketplace