Richard Salsman
Articles
Incarceration, Monetization, and Nationalization Can’t Preserve Our Health or Wealth
Perhaps the main difference between the mild reaction to the more lethal H1NI virus in 2010 and the hyped, heated reaction to the Wuhan China virus in 2020 is the difference between President Obama, who was adored by most of the media, and President Trump, who, we know, is reviled by most of it.
Judy Shelton: Golden Nominee for a Tarnished Fed
Dr. Judy Shelton is polite, soft-spoken, and diminutive – yet she seems capable of scaring the bejesus out of full-grown adults and “leaders” in American politics, academia, and media. Why? For decades she’s been a global expert on money, monetary policy, and crises. She’s been a prolific author and speaker, a scholar at the Hoover…
Say’s Law versus Keynesian Economics
There’s no more important principle in political economy to get right – and avoid getting wrong – than Say’s Law.
Paul Volcker: Foe of the Gold Standard, Fan of Fiscal Profligacy
The recent death of Paul Volcker, Federal Reserve Chairman from 1979 to 1987, has generated the usual but undeserved encomiums from media outlets. Sebastian Mallaby at The Washington Post declares that Mr. Volcker was “the savior our economy needed.” Brian Cheung at Yahoo Finance contends that Volcker “tackled the Great Inflation by inspiring a rethink of monetary policy” that…
Why the U.S. Yield Curve Reliably Predicts U.S. Recessions
Over the past half century in the U.S., yield-curve inversions have been important because they’ve reliably predicted all seven U.S. recessions.
Congress Seeks To Boost the Minimum Wage and Teen Joblessness
What right have any politicians to intervene in voluntary wage bargains?
Free Things and Unfree People
As politicians contemplate (and effectuate) policies moving us away from capitalism towards more socialism, perhaps it’s no surprise that we also see pervasive, unabashed freebie promising.
As the U.S. Government Grows, American Prosperity Slows
Look back 150 years (from the end of the Civil War), ignore whatever party or president was dominant, and try to discern a relationship between the size, scope and power of the U.S. federal government and America’s economic growth rate.
Punitive Taxation of America’s Richest
Taken together, the top quintile of earners, representing 53 percent of total income, paid 70 percent of all federal taxes, or 17 percentage points above their fair share.
The Production of Money Isn’t (Necessarily) the Production of Wealth
The creation of money doesn’t create wealth, unless money itself is wealth — as it was when it was gold and silver. The sooner we learn this lesson, the sooner we’ll be able to revive real, robust, and sustainable wealth creation.
