Wars, politics, economic collapse. They had running water, sewers, flush toilets, concrete, roads, bridges, dams, an international highway system, mechanical reapers, water-powered mills, public baths, soap, banking, commerce, free trade, a legal code, a court system, science, literature, and a republican system of government. And a strong army to enforce […]

Hall and Ferguson reveal their uneasiness with and lack of insight into the operation of the money supply process under a genuine gold standard with the following example Suppose a fad had swept the nation in 1927 because Calvin Coolidge appeared in public wearing one gold earring. Then every teenager […]

Marijuana, i.e., cannabis, is now legal in eleven states for recreational use, thirty-three states for medical purposes, and another sixteen states have decriminalized it (usually fines for possession of small amounts). The upcoming election will see several legalization ballot measures, including recreational use legalization in Arizona, Montana, and New Jersey […]

Today’s headlines announced Donald and Melania Trump “tested positive” for covid-19. Another claims nineteen thousand Amazon workers “got” covid-19 on the job. Both of these pseudostories are sure to ignite another absurd media frenzy. As always, the story keeps changing: Remember ventilators, flatten the curve, the next two weeks are […]

The Federal Reserve has potentially had the most memorable year in its more than a century–long history. What started out as a year of “Will they or won’t they cut interest rates?” blossomed into a time of slashing rates to near zero, unleashing unlimited quantitative easing, purchasing corporate and municipal […]