So-called fair trade is the rage among elites who believe that it protects people in poor nations who would like higher prices for their exports. In reality, fair trade distorts prices and provides disincentives for consumers.
Category: philosophy
The “unuseful” tautology
The simple tautology that individuals act is not trivial, despite what critics of Austrian economics might say. As Mises noted, human action is directly related to the ability of humans to reason.
As the US dollar falls into ruin
Luke Gromen told Dale Pinkert on the Forex Analytics July 22nd F.A.C.E. show that the U.S. went to China last fall and asked the Chinese to strengthen the Yuan. The Chinese said if the United States wants a weaker dollar, they need to let it go versus gold, implying that the gold market is influenced…
The Federal Reserve Does Not Own Gold
The Fed has owned no gold since 1934, when the Fed handed over all its gold in exchange for gold certificates.
The Fed is warping the shape of the yield curve
As the Federal Reserve manipulates the money supply and interest rates, the yield curve becomes a less reliable indicator of economic activity. The more the Fed plays havoc with the system, the more we see the boom-and-bust syndrome.
Money-Supply Growth Accelerates as Wall Street Demands Even More Easy Money
The current trend in money-supply growth is a big turnaround from the many months of depression-level contractions we saw in 2022 and 2023.
Yankees vs. Cowboys: Rothbardian elite theory on Watergate
Published in July 1974, Murray Rothbard provides elite theory analysis of Watergate after the selection of Nelson Rockefeller as Gerald Ford’s Vice President.
Americans are poorer: the United States Misery Index rises again
The problem for most Americans is that it is increasingly difficult to make ends meet despite record government spending, or because of its negative impact on inflation and taxes.