Government economic policy is completely backwards. We are told that massive deficit spending, interest rates driven to zero, and now higher taxes on the “rich” will bring the American economy out of the doldrums or [more…]
Do not believe government pronouncements that the economy is rebounding from very minimal damage caused by unprecedented Covid-19 inspired closures of businesses or that the damage was very mild anyway. Government will use it favourite [more…]
Every primer on economics cites the familiar factors of production, land, labour and capital, as prerequisites for productive activity. Sometimes entrepreneurship is added to represent the gifted brain who brings the other three together in [more…]
Britain’s Keynesian press & public service broadcasters view President Roosevelt’s New Deal as something to ‘put on a pedestal’ (Guardian June27). Sadly the New Deal has gone into main stream academic & political economic archives [more…]
A tariff is a tax on imports that is used to satisfy a policy goal. Before the federal income tax became law in 1913, the US federal government was funded almost entirely by tariffs and [more…]
Perhaps the most destructive premise of modern, mainstream economics is that a central bank-induced monetary/credit expansion can cause an economy to grow without adverse consequences. Let’s be perfectly clear from the start…this policy has been [more…]
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