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A Current Burden Of Deficit Financing

A Current Burden Of Deficit Financing

by Donald J. Boudreaux My late Nobel-laureate colleague James Buchanan made many important contributions. Among the most significant is his proof, first offered in 1958, that Adam Smith and other classical economists were correct to argue that government projects that are funded with debt are ultimately paid for by the future citizens whose taxes must be raised (or whose […]

What Are The Nobel Journalists Doing?

What Are The Nobel Journalists Doing?

by Joakim Book For weeks, economists on social media and over dinner tables around the world have speculated on who might be receiving this year’s Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It’s a fun little game that economists play – and some, stubbornly, refuse to play – on par with guessing the […]

Assessing Market Expectations Of Inflation

Assessing Market Expectations Of Inflation

by William J. Luther Economists continue to debate whether the high rates of inflation observed over the last few months are transitory or permanent. Year-on-year inflation was 4.3 percent in August. The average annual rate of inflation since January 2020 is around 2.85 percent. Should we expect inflation to return to the Fed’s 2 percent average […]

End Of Banking As We Know It?

End Of Banking As We Know It?

by Kenneth Kalczuk Wouldn’t it be strange if the governing director of an industry wanted to end that industry? Like if the Secretary of Education wanted to close schools, or if the Secretary of Agriculture hated farming? The implications of President Biden’s recent nomination for the head of the Office of the Comptroller of the […]

Can You Even Be An “Informed” Citizen?

Can You Even Be An “Informed” Citizen?

Art Carden    Right after the famous “invisible hand” quote in The Wealth of Nations, Adam Smith writes: What is the species of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every individual, it is evident, can, in his local situation, judge much better than any […]

Has America’s Third “Civil War” Begun?

Has America’s Third “Civil War” Begun?

by Robert E. Wright The question of whether a third American “civil war” has begun occurred to me after reading a recent New York Times piece (deliberately unlinked as it fails fact checking) that claimed that the president can mandate a vaccine today because George Washington did so during America’s first “civil war,” more commonly called the […]

Beware Of The Progressive Redefinition Of Moderates

Beware Of The Progressive Redefinition Of Moderates

by Gary Galles Progressive thought control efforts have turned to a new attack on moderates. As reported on The Hill, first-year Rep. Mondaire Jones (D-N.Y.), said “Referring to the small handful of conservative Democrats working to block the president’s agenda as ‘moderates’ does grave harm to the English language and unfairly maligns my colleagues who are […]

“Green” Europe Looks To Coal Again

“Green” Europe Looks To Coal Again

by Michael Fumento In 1862 we got the Gettysburg Address, in 1941 it was Roosevelt’s Day of Infamy and in 1983 it was Ronald Reagan’s Evil Empire speech. This year it appears we’ll have to settle for Greta Thunberg’s “Blah, Blah, Blah!” keynote speech at the youth climate summit in Milan. As bad as it was on the merits, it certainly […]

Vaccine Mandate Enforcement Threatens To Create A Second Economic Crisis

Vaccine Mandate Enforcement Threatens To Create A Second Economic Crisis

by Harry Wilmerding President Joe Biden announced a vaccine mandate on Sept. 9, causing experts to debate its potential economic impact.  The mandate, as announced, would require companies with 100 or more employees to require vaccines or weekly testing. Failure to comply could result in substantial fines.  “We are already in an unprecedented labor market […]

Liberalism Then And Now

Liberalism Then And Now

by Habi Zhang Kenneth Minogue’s The Liberal Mind first appeared in the 1960s, an era when “the young and the radical in the Western world were in a restive condition.” As Minogue correctly diagnosed, the restiveness had two sides, “one cynical, the other sentimental.” Six decades later, the modern liberals’ restiveness has become far more vexatious, and […]