Capitalism
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Slavery Did Not Enrich Americans
“The New History of Capitalism misfires badly, however, in its interpretation of these facts. Slavery was not necessary for cotton, and cotton was not necessary for industrialization. Had chattel slavery never taken hold in the United States, we would very likely be richer than we are today.” ~ Art Carden
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Where Did The Wealth Go?
“The cost of the lockdown is the forgone economic activity, all the meals and haircuts and vacations and flights and trips to the theater and the movies and the nightclub. Those things are gone, and they cannot be made up. We had access to fewer desirable things; that’s where the wealth went.” ~ Michael
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Managing the Chessboard of Human Society: Lessons from the Online Chessboard
” It seems reasonable that we will never actually master every possible detail of chess, Monopoly, and other games. If games that happen within very well-defined spaces according to very well-defined rules present such insurmountable difficulties, I’m definitely skeptical of the notion that we can design and control a great society.” ~ Art Carden
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The Fed Can’t Revive the Dead, But It Can Delay Their Recovery
“Central planning was tried in the 20th century, and it failed miserably. As evidenced by the U.S. economy’s dynamism, the Fed’s actual power is a fraction of what its supporters and critics both presume.” ~ John Tamny
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Tear Down this Plexiglass!
“To paraphrase Ronald Reagan, who challenged Mikhail Gorbachev to eradicate another major symbol of fear and mistrust in the world, I urge us to tear down this plexiglass.” ~ Anthony Gill
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Ignore the Cooing of the Deficit Doves
“We skeptics of government power should never stop warning of the dangers of deficit financing, for such financing lowers political decision-makers’ costs of expanding government’s size and scope.” ~ Donald Boudreaux
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How the Federal Reserve Literally Makes Money
“The Fed is spending up to US$2.3 trillion to help save the U.S. economy from the coronavirus recession. But where does all that money come from?” ~ William J. Luther
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Keep the Fed Out of Municipal Finance
“Chairman Powell should follow the advice of his predecessors. With the program still in its infancy and economic recovery already underway, now is the time to end the MLF in order to preserve the Fed’s independence, maintain the separation between fiscal and monetary policy, and deter additional calls for municipal bailouts in the future.” ~…
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American History Reveals the Alternative to the Police State
“There is ample evidence that decriminalization of Americans’ personal lives, the proliferation of gun ownership, and the encouragement of competitive markets for property insurance and private protection services can greatly improve upon our current monopolistic, union-controlled, taxpayer-funded machines of state repression.” ~ Robert E. Wright
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Should We Be Worried about Big Tech?
“AIER itself has faced throttling by Google, YouTube, and perhaps Twitter, and videos we’ve needed for science-based postings have been deleted. We steadily worked to build our own outlets, preparing for the possibility of full censorship.” ~ Donovan Choy
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It’s Time to End the Fed’s Dual Mandate
“The choice before us is simple: a central bank that is highly restricted, and therefore effective and independent, or one that is dominated by short-run political concerns, and therefore incompetent and subservient.” ~ Alexander Salter
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Will Social Security Go Bankrupt?
“Where are we now? Is Social Security going bankrupt? Not literally, since bankruptcy law does not apply to government agencies or programs. But it is unquestionably true that Social Security is headed for a fiscal calamity.” ~ Warren Gibson
