Fiscal Rules Do Not Undermine Investment, But Government Profligacy Does
To prevent public debt from soaring in the wake of the global financial crisis in 2009, Germany has enshrined a “debt brake” in its…
Bank Crises and the Interventionist Spiral
Silvergate Bank, Silicon Valley Bank, Signature Bank, and First Republic Bank fell like dominos in March–April 2023. The United States Treasury, Federal Reserve, and…
With a Soft Landing Looking Likely, the Dollar Falls on the CFR Mini Mac Index
by Benn Steil and Elisabeth Harding The “law of one price” holds that identical goods should trade for the same price in an efficient…
Unbreakable Union: Lessons Learned from the Demise of the Soviet Union
[This week marks the one-year anniversary of the death of Yuri Maltsev. Dr. Maltsev had been an economist in the Soviet Union under Gorbachev,…
What is a “Fed Pivot,” And When Is It Likely to Happen?
By Mark Thornton Chairman of the Federal Reserve, Jerome “Jay” Powell, recently sent mysterious shock waves into financial markets with comments that suggested that…
Walter Block: Hats Off To Oregon
By Walter E. Block Many states have legalized marijuana, not just for medical purposes. They have also done so for entertainment, and hats off…
Walter Block: I Ain’t Gonna Study War No Mo!
By Walter E. Block Wouldn’t it be nice if the Israelis and Hamas could settle their differences in court instead of through battle? We…
Can Milei Really Shut Down Argentina’s Central Bank?
The monumental fiscal and monetary hole that Peronists Massa and Fernández have left for Javier Milei is difficult to replicate. Ex-president Mauricio Macri himself explained…
The Money Supply Continues its Biggest Collapse Since the Great Depression
Money supply growth fell again in October, remaining deep in negative territory after turning negative in November 2022 for the first time in twenty-eight…
The Dying Tiger: The Challenges Facing ASEAN
The Association of Southeast Asian Nations (ASEAN), an economic bloc consisting of ten nations, is no stranger to praise. By lifting tariffs on nearly…