The Daily Economy
What Is a Price?
The large drop in financials of all sorts – both conventional and crypto – have people wondering what went wrong. What could have triggered this stunning sell off? What has spooked the markets? When there are no obvious answers, and there really aren’t this time around, it tempts people to believe that markets themselves are…
Large Businesses Might Adopt Blockchain Technology Faster Than Individuals
Blockchain technology won’t truly be pervasive until people gain enough intuitive understanding of the technology to trust it. That could be a slow process.
What If We Keep Declassifying Government?
Trump’s decision to declassify this memo is a great start. Declassify more. Declassify it all. What will we discover? We will find the great myth of the modern age – that government can be neutral, public spirited, and full of non-stop integrity – completely refuted. Government is not really about service to others; it’s about…
Why Unpaid Internships Make Sense
In a perfect universe, everyone would be automatically productive, and firms would have deep pockets to hire employees right away with full salaries. The reality is that taking on a new employee is costly; replacing one is even harder; time constraints are real; and competition is fierce, especially for small and medium-size firms with cash-strapped budgets.
Payroll Gains Are Slowly Boosting Wage Increases
U.S. nonfarm payrolls added 200,000 jobs in January, the third monthly gain at or above 200,000 in the last four months, helping boost wage growth to 2.9 percent, the highest rate since 2009.
If You Love Progress, Embrace Markets
People talk often of how technology is disruptive. That’s only part of the story. Technology also serves the oldest values and the most ancient aspirations of the human experience, and does so in a way that is organically peaceful with how we live. It’s the much-maligned market economy that makes it all possible, and does…
A Bill to Ease California’s Housing Shortage
Citizens care about rents, and legislators will continue to bring bills to alleviate them until the pressure is gone. This bill would ease a variety of restrictions on properties near transit stations and bus stops with frequent service.
Tax Havens Put EU States to Shame
In the face of true economic competition, the European Union is showing increasingly totalitarian tendencies toward those who offer better economic conditions than its member states.
The Modern Origins of Economic Nationalism
Nationalism emerged in the 19th century as an alternative to economic liberalism of the classical variety. Liberalism was embodied in the works of Adam Smith, J.B. Say, Thomas Jefferson, and A.RJ. Turgot. Smith summed up the creed: “What is prudence in the conduct of every private family can scarce be folly in that of a…
Political Division Is How We Grow Rich
What I’m suggesting here is that the divisions between these various centers of political, culture, and intellectual power are actually a good thing. I wouldn’t want anyone to win the great debates of our time. The end of division itself might be the worst possible outcome because it would imply that someone power source is…
The Chance Puerto Rico Cannot Afford to Miss
Generous public programs are simply not an option when the government owes $43.2 billion in pension payments, and privatization has finally become an issue of public debate
Coffee and Wine: The Subjective Theory of Value at Work
Comparing the prices of coffee and wine provides evidence for the subjective theory of value advanced by Austrian economist Carl Menger.
