mad formal executive man yelling at camera

Crazy Markets

In my post titled “Money Tree,” I explained in a general way how the addition of “non-market money[1]” distorts market prices, which in turn leads to a misallocation of resources. In this post, I will build a hypothetical model to show how that process works in more specific conditions. I will follow two different market … Continue reading Crazy Markets

Response to Coronavirus

The coronavirus has not caused lost jobs, closed businesses, restricted air travel, and many other adverse economic effects. Responses to the coronavirus have caused these effects. Were those responses appropriate? We may never know. Responses due to market intervention have been substantially different than they would have occurred in a free market. Introduction To properly … Continue reading Response to Coronavirus

A Triumph for Tyranny

Introduction In 1831 Alexis de Tocqueville, along with his companion Gustave de Beaumont, traveled from France to the United States for — ironically — studying the U.S. prison system. Democracy in America, the book in which he recorded his observations from his nine-month tour, has provided background for many discussions about democracy even to this … Continue reading A Triumph for Tyranny

Climate, Freedom, & Money

Introduction “Climate change” represents the crisis de jure. We have no choice but to accept that human activity has created a crisis level of change in the climate of the world. To deal with this crisis, we must implement an unprecedented level of government intervention. The complexity of this subject boggles the mind. How do … Continue reading Climate, Freedom, & Money