In a recent research note, Goldman Sachs said something that is entirely right about current economic growth. Not only is it right, but it's something we have known is right for some time now.
Tim Worstall, Contributor
Jon Hartley, Contributor
Jared Meyer, Contributor
Tim Worstall, Contributor
A useful little rule of thumb is that when a government manages to make money worth nothing then they've been doing something wrong. There have been hyperinflations of this kind before: Weimar Germany (no, not what brought Hitler to power, a decade before that), post WW II Hungary and of course modern Zimbabwe. Where it got so bad, at the end, that they couldn't actually print banknotes of sufficient value to purchase the ink with which to print banknotes. That's why the Z $ finally died. read »
Yesterday the Louisiana Senate overwhelmingly approved a bill that would substantially reduce the state's penalties for marijuana possession, currently among the harshest in the nation. Under current law, possessing even the smallest amount of cannabis is punishable by up to six months in jail and a $500 fine for the first offense, up to five years and a $2,500 fine for a second offense, and up to 20 years and a $5,000 fine for subsequent offenses. Under S.B. 241, which the Senate approved by[...] read »
What Republicans must do if they seek a truly Reaganite approach to climate change. read »
Taiwan offers one of the great models of modern economic and political development. In 1960 Taiwan had GDP per capita and human development levels that placed it among the least developed countries in the world. Subsequent decades saw economic growth and industrialization that not only transformed Taiwan into one of Asia’s tiger economies, but also provided an economic model that has been successfully replicated by other regional economies. In parallel with this economic evolution,[...] read »
One of the slightly more mystifying political and economic themes of recent years has been the vehemence with which a certain section of the liberal left has been alledging currency manipulation by various foreign countries. The AFL-CIO and various think tanks usually aligned with them have been particularly vociferous on this point. China, or South Korea, or whoever, has been artificially lowering the value of their currency in order to increase exports to the US. This makes Americans lose their[...] read »
In the just-released spring 2015 Unified Agenda of Federal Regulations (Agenda), a roundup published twice a year by the Office of Management and Budget, federal departments and agencies have 3,260 rules flowing through the pipeline at various stages, many of them holdovers from earlier volumes. read »
Paul Krugman is, as Brad Delong will tell anyone who listens, always right. I tend not to go that far but am willing to concede that he can indeed be correct at times. Further, that anyone wishing to disagree with a Krugman view (and of course the less political and the more about economics it is, the more this is true) had better have their logical and evidential ducks lined up in an orderly row. However, in this particular case I'm just delighted to point out that Krugman is right: for he's echoing[...] read »
Congressman Tom Price, MD, introduced his first post-Obamacare bill as early as 2009 and has reintroduced an updated version in every Congress since then. The latest Empowering Patients First Act (H.R. 2300), introduced this month, is the fourth iteration. The most important improvement is a universal tax credit, adjusted by age, to every American who chooses to buy individual health insurance: $1,200 for those aged 18 to 35, $2,100 for those between 35 and 50, $3,000 for those over 50 and $900[...] read »
One of the most amazing things about political commentary these days is the failure to connect cause and effect on the left. Some of those complaining the most vociferously about inequality are the very ones most strenuously advocating policies that would cut off job opportunities and educational opportunities for America’s most vulnerable populations. read »
