The Daily Economy
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CryptoCurrency Markets Keep Know-It-Alls Humble
From the time Bitcoin was introduced, it faced ridicule, disgust, smears, and anger. Incredulity would naturally greet a technology that achieved something never before thought possible.
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Extractive Institutions Foretell the Failure of Nations
The disparity in wealth and overall political stability between developed and developing countries lies in their inclusive or extractive institutions, as made clear in ‘Why Nations Fail.’
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Bitcoin Isn’t an All-or-Nothing Proposition
There are many intermediate cases where Bitcoin has value for specific applications, without “replacing” the dollar, gold, or any other major underpinning of the global financial system.
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All I Want for Christmas Is Privatized Airports
Privatization of small airports and allowing low-cost foreign carriers to enter could mean lower prices and more availability during the holidays.
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Third-Quarter Real GDP Rises 3.2 Percent; Profits Hit a Record
Revised estimates show real GDP grew at a 3.2 percent pace in the third quarter while U.S. corporate profits rose to a new record high and core consumer price increases decelerated. Overall, today’s data suggest an economic environment with solid growth and slow price increases that is likely to continue well into 2018.
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A Greek Tragedy on the Horizon
How much more debt can the US government accumulate before the country is hurled into a debt crisis?
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A Decline in Multifamily Housing Permits Offsets a Gain in Single-Family Permits
Housing starts rose 3.3 percent in November on gains in both the multifamily segment and in the single-family segment. Overall, single-family housing construction continues to rise while the multifamily segment has plateaued.
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American Journal of Economics and Sociology on AIER Founder E.C. Harwood
Edward Crosby Harwood was a participant in the work of the American Journal of Economics and Sociology since its founding. First as a reader and friendly critic, then as a contributor and member of the editorial board serving as a referee, he helped to assure the success of the effort.
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Are Fiat-Currency Crises the Only Path to Mass Adoption of Bitcoin?
Mass adoption of cryptocurrencies is unlikely to take place unless there is “significant monetary instability” or “government support” (fat chance, at least with bitcoin).
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We Are the True Liberals
In the 19th century liberalism was used to describe the people who believed in liberty, a creed unifying the belief in free markets with the beliefs in freedom of speech and the press.
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The 12 Greatest Tweets Debunking Net Neutrality
In a country where almost every facet of life is regulated by big government, the last thing we need is a state-run internet.
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Over Half of Millennials Identify as Socialist. Here’s How to Change Their Minds.
How does one make the case for capitalism to young Americans who identify as socialist?
