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...
Economics
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....
TGIF: Bust the Conservative “Trust Busters”
by Sheldon Richman | Apr 30, 2021 | Economics, Libertarianism, Sheldon Richman, TGIF
When right-wing leader Sen. Josh Hawley (R-MO) recently declared that "liberty and monopoly do not go together," I fantasized that he had become a free-market anarchist. When I hear monopoly, I think government because what's the most literal of monopolies (or source...
Beware Political Creationists
by Sheldon Richman | Apr 23, 2021 | Blog, Economics
"With few exceptions, the tribe of academic scientists and hospital doctors which now controls our government has literally never heard such arguments [the unplanned order of thee market process]. Their worldview is a top-down one: they assume things happen because...
TGIF: Does Nearly Everyone Favor Industrial Policy?
by Sheldon Richman | Apr 23, 2021 | Economics, Libertarianism, Sheldon Richman, TGIF
Over the years I've heard countless arguments about which word best describes the American economic system. Some insist it is essentially socialist, while others favor the word fascism. (Fascism is socialism with a private-property and market veneer.) Still others...
A Day in the Life of an American Serf
by Bradley Thomas | Apr 15, 2021 | Economics, Featured Articles
As another traditional April 15 tax day arrives, it reminds us once again of the financial burden and forced obligation the government places on our finances. So, how heavy is the yoke of taxation? We could throw around dollar amounts in the trillions, and break them...