Economic History
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Who Really Cheats the Government?
“The greater enforcement could be regressive. Policymakers and pundits should ponder this possibility before they wrap themselves in the cloth of virtue.” ~ Vincent Geloso
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The Strange Definition of Recession Is the Best We Have
“The reality is that the reason many use the flawed rule is because all other alternatives seem to be worse. As such, politicians and pundits who try to downplay talks of a recession by mentioning the flawed rule may be politically, and not economically inclined.” ~ Vincent Geloso
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Not so Modern Monetary Theory
“If the issue of an unbacked or insufficiently-backed currency exceeds the amount needed to pay the tax, and even exceeds the amount in demand as a medium of exchange, the value of that currency will fall (or, there will be inflation).” ~ Gary M. Pecquet & Clifford F. Thies
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Liberty and the Power of the Purse
“The colonists ripped the British Empire apart to combat what they considered political slavery, and Southerners tried to do likewise to the U.S. Republic to maintain chattel slavery. Liberty again hangs by the purse strings and by no means must it prevail.” ~ Robert E. Wright
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End the Gasoline Crisis: Try Motivation by Love, Not Fear
“It is time to unleash the market to produce more, rather than excoriate the oil producers. Try some motivation by love, President Biden, not motivation by fear.” ~ Raymond C. Niles
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Strike Three for the Federal Reserve
“No batter always gets on base but America, nay the world, has a high-quality pinch hitter that it benched a century ago: the Gold Standard. It’s not perfect but it is far better, and fairer, than the Fed.” ~ Robert E. Wright
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Stocks and Bonds Hurt Alike Under Stagflation
“When bonds and stocks decline a lot and simultaneously it suggests inflation is rising rapidly even as the economy is stagnating or contracting (or will soon do so). For most economists today, that combination is near-impossible.” ~ Richard M. Salsman
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Tocqueville’s Worst Fears
“Piketty is less concerned with promoting either political or individual freedom than he is with building a ‘state’ strong enough to push ‘to its logical conclusion ‘the movement towards ‘real equality’ as he conceives it.” ~ David Lewis Schaefer
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The Perpetual Tragedy of New York’s Rent Control
“If the city keeps reducing real rents by capping increases below the inflation rate (as it is doing now), and if inflation continues for more than a few years, we will see building abandonments once again.” ~ Raymond C. Niles
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•
Studying Economics Instills Gratitude
“Grateful hearts want to see the sort of prosperity they have enjoyed extended to others near and far. Fortunately, economics also offers the prosperity recipe—if only we have ears to listen.” ~ Caleb S. Fuller
-
•
Who Really Cheats the Government?
“The greater enforcement could be regressive. Policymakers and pundits should ponder this possibility before they wrap themselves in the cloth of virtue.” ~ Vincent Geloso
-
•
The Strange Definition of Recession Is the Best We Have
“The reality is that the reason many use the flawed rule is because all other alternatives seem to be worse. As such, politicians and pundits who try to downplay talks of a recession by mentioning the flawed rule may be politically, and not economically inclined.” ~ Vincent Geloso
-
•
Not so Modern Monetary Theory
“If the issue of an unbacked or insufficiently-backed currency exceeds the amount needed to pay the tax, and even exceeds the amount in demand as a medium of exchange, the value of that currency will fall (or, there will be inflation).” ~ Gary M. Pecquet & Clifford F. Thies
-
•
Liberty and the Power of the Purse
“The colonists ripped the British Empire apart to combat what they considered political slavery, and Southerners tried to do likewise to the U.S. Republic to maintain chattel slavery. Liberty again hangs by the purse strings and by no means must it prevail.” ~ Robert E. Wright
-
•
End the Gasoline Crisis: Try Motivation by Love, Not Fear
“It is time to unleash the market to produce more, rather than excoriate the oil producers. Try some motivation by love, President Biden, not motivation by fear.” ~ Raymond C. Niles
-
•
Strike Three for the Federal Reserve
“No batter always gets on base but America, nay the world, has a high-quality pinch hitter that it benched a century ago: the Gold Standard. It’s not perfect but it is far better, and fairer, than the Fed.” ~ Robert E. Wright
-
•
Stocks and Bonds Hurt Alike Under Stagflation
“When bonds and stocks decline a lot and simultaneously it suggests inflation is rising rapidly even as the economy is stagnating or contracting (or will soon do so). For most economists today, that combination is near-impossible.” ~ Richard M. Salsman
-
•
Tocqueville’s Worst Fears
“Piketty is less concerned with promoting either political or individual freedom than he is with building a ‘state’ strong enough to push ‘to its logical conclusion ‘the movement towards ‘real equality’ as he conceives it.” ~ David Lewis Schaefer
-
•
The Perpetual Tragedy of New York’s Rent Control
“If the city keeps reducing real rents by capping increases below the inflation rate (as it is doing now), and if inflation continues for more than a few years, we will see building abandonments once again.” ~ Raymond C. Niles
-
•
Studying Economics Instills Gratitude
“Grateful hearts want to see the sort of prosperity they have enjoyed extended to others near and far. Fortunately, economics also offers the prosperity recipe—if only we have ears to listen.” ~ Caleb S. Fuller