The University of Michigan consumer confidence index fell to 82.8 in May, from 88.3 in April. More importantly, the current conditions index slumped to 90.8, from 97.2 and the expectations index declined to 77.6, from 82.7. Hard data also questions the strength of the...
Economics
How Government Jobs Hurt the Economy
by Gary Galles | May 24, 2021 | Economics, Featured Articles
It seems that every time something adverse happens in the labor market, it restarts the partisan battle between those currently in and out of power as to who is a better steward of the economy. That was illustrated by the Bureau of Labor Statistics's (BLS) release of...
TGIF: Biden Labor Department Undermines Gig Economy
by Sheldon Richman | May 21, 2021 | Economics, Justice, Libertarianism, Sheldon Richman, TGIF
Why should government at any level have the power to overrule how workers and companies define their relationships? This question has become more important than previously with the rise of the gig economy, in which workers such as Uber and Lyft drivers are regarded by...
Calling Out Paul Krugman’s Booms & Busts
by William Anderson | May 18, 2021 | Economics, Featured Articles
That Austrians and Keynesians do not share many views on economics (or probably anything else) is obvious, so a difference of opinion between the two hardly should surprise anyone. However, it still is important to point out the differences between the two camps,...
How the Federal Reserve Inflated Away a Fourth of Your Wealth in 15 Years
by Stark Realities with Brian McGlinchey | May 17, 2021 | Economics, Featured Articles
As Americans warily eye new data showing both consumer and producer price inflation heating up beyond expectations, few of them realize the Federal Reserve has an explicit goal to relentlessly degrade the purchasing power of their savings. The Fed weakens the...
TGIF: FDA Targets Black and Other Minority Smokers
by Sheldon Richman | May 14, 2021 | Economics, Justice, Libertarianism, Sheldon Richman, TGIF
Just when we are reminded that unnecessary conflict between the police and the people, especially in poorer black communities, is a poison to be eliminated forthwith, the Biden administration has moved in the wrong direction. Late last month the administration...
Our Tower of Economic Lies
by William Anderson | May 12, 2021 | Economics, Featured Articles
In a recent issue, Time Magazine boldly declared, “The Free Market Is Dead,” and then added: “What Will Replace It?” Of course, one always can expect Time to be disingenuous at best and dishonest at worst, and as an academic economist, I have come to realize that...
The Truth About the Biden Tax Plan
by John Tamny | May 11, 2021 | Economics, Featured Articles
Last Thursday the New York Times reported what should be obvious, but that eludes most in our midst: the rich pay the vast majority of taxes collected. By far. This is a statement of the obvious simply because the “vital few” drive all progress in all walks of life....