Daily Economy
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New Cryptocurrency to Mimic Algorithmic Central Bank
A new cryptocurrency, “basis,” seeks to eliminate price volatility by setting up an “algorithmic central bank,” that is, a set of rules that adjust the money supply without human intervention.
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Inflation in the News, but What Is It?
Always ask yourself: when using the term “inflation,” what are you seeking to explain? If it is monetary policy, you are best off looking at monetary statistics. If it is prices, follow the Everyday Price Index. If it is the relationship between monetary policy and prices, follow good economic theory.
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Would You Eat this Abandoned Chicken Stick?
I could have eaten it without violating anyone’s rights, so far as I can tell. But doing so would bump into an idea that forms the basis of social order, the very distinction between what is mine and what is thine. And keep in mind that this norm thrives most (or only) in an environment…
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Unions and Firms Share the Blame for Montreal’s Traffic Disaster
There’s plenty here to satisfy both union-hating conservatives and progressives decrying corporate greed. But the common element seems to be that friction point where big business or big labor meets big government — you know, the thing endowed with the wealth and power to hand out billions of dollars in contracts?
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Small-Business Confidence Remains Very High, but Labor Concerns Continue
The latest survey from the National Federation of Independent Business shows small-business confidence remains very high, supported by favorable expectations for the economy and future sales. However, the lack of qualified candidates for open positions is a major concern.
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How Countries Can Avoid the Middle-Income Trap
To get out of the middle-income trap, the country must change from the imitative economy to an innovative economy. Instead of a top-down transformation, the economy needs to blossom from below.
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Five Strange Features of this Trade War
It’s worth reflecting on all the ways in which this trade war seems to depart from the historical pattern. They suggest something important: this trade war is born not of strategy but of ideology.
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The Beautiful Philosophy of Liberalism
There has been a great paradox in the modern world. On the one hand, freedom and prosperity have replaced tyranny and poverty for tens, indeed for hundreds of millions of people around the world over the last two centuries. Yet the political and economic system that historically has made this possible has been criticized and…
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How to Pay Tribute to a Great Mind
You think ideas don’t matter, that intellectuals aren’t really relevant to the shape of the modern world? Read some of these tributes and you will see otherwise. Mario Rizzo is for the ages.
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Reform Army Corps to Cut Red Tape, Boost Outcomes
Ending military involvement in civilian navigation and public-waters regulation is one important step in any systematic reform to the scope of the federal government.
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•
New Cryptocurrency to Mimic Algorithmic Central Bank
A new cryptocurrency, “basis,” seeks to eliminate price volatility by setting up an “algorithmic central bank,” that is, a set of rules that adjust the money supply without human intervention.
-
•
Inflation in the News, but What Is It?
Always ask yourself: when using the term “inflation,” what are you seeking to explain? If it is monetary policy, you are best off looking at monetary statistics. If it is prices, follow the Everyday Price Index. If it is the relationship between monetary policy and prices, follow good economic theory.
-
•
Would You Eat this Abandoned Chicken Stick?
I could have eaten it without violating anyone’s rights, so far as I can tell. But doing so would bump into an idea that forms the basis of social order, the very distinction between what is mine and what is thine. And keep in mind that this norm thrives most (or only) in an environment…
-
•
Unions and Firms Share the Blame for Montreal’s Traffic Disaster
There’s plenty here to satisfy both union-hating conservatives and progressives decrying corporate greed. But the common element seems to be that friction point where big business or big labor meets big government — you know, the thing endowed with the wealth and power to hand out billions of dollars in contracts?
-
•
Small-Business Confidence Remains Very High, but Labor Concerns Continue
The latest survey from the National Federation of Independent Business shows small-business confidence remains very high, supported by favorable expectations for the economy and future sales. However, the lack of qualified candidates for open positions is a major concern.
-
•
How Countries Can Avoid the Middle-Income Trap
To get out of the middle-income trap, the country must change from the imitative economy to an innovative economy. Instead of a top-down transformation, the economy needs to blossom from below.
-
•
Five Strange Features of this Trade War
It’s worth reflecting on all the ways in which this trade war seems to depart from the historical pattern. They suggest something important: this trade war is born not of strategy but of ideology.
-
•
The Beautiful Philosophy of Liberalism
There has been a great paradox in the modern world. On the one hand, freedom and prosperity have replaced tyranny and poverty for tens, indeed for hundreds of millions of people around the world over the last two centuries. Yet the political and economic system that historically has made this possible has been criticized and…
-
•
How to Pay Tribute to a Great Mind
You think ideas don’t matter, that intellectuals aren’t really relevant to the shape of the modern world? Read some of these tributes and you will see otherwise. Mario Rizzo is for the ages.
-
•
Reform Army Corps to Cut Red Tape, Boost Outcomes
Ending military involvement in civilian navigation and public-waters regulation is one important step in any systematic reform to the scope of the federal government.