The Economist magazine rightly calls French professor Thomas Piketty the new Marx, although a watered-down version. Piketty’s bestseller (rated #1 on Amazon) is a thick volume with the same title as Karl Marx’s 1867 magnum opus, “Kapital.”
There has been much talk lately about the tone of construction spending. Two ways to profit jump quickly to an investor's mind...
The WSJ's Real Time Economics blog recently caught our attention with the following headline: Why the Nation's Hot Housing Market Is Cooling Slightly. After wiping down our monitor after our initial spit-take, we found it to be a fairly decent article.
It’s not as sophisticated as Professor Bryan Caplan’s Purity Quiz and it doesn’t have the simple elegance of the World’s Smallest Political Quiz, but at least you don’t need to answer any questions to see where you stand in this Venn Diagram that my intern shared with me.
Malinvestment is a very important concept to understand. It simply means the allocation of capital in ways which appear to be (and may be) rational in a period of artificially cheap credit, but in ways which in the end prove to be inefficient once the market corrects for artificially low rates.
Higher prices in this competitive environment generally lead to falling real wages. Sure enough, the BLS reports Real Average Hourly Earnings Fall 0.3 Percent in April.
There are many people raising families on fast food salaries, however, many of them live in households with numerous income earners. Moreover, many of the people are like Leika Reynolds; the 11th grader from Atlanta, who saw working at McDonald's as a steppingstone.
Insiders have at least been decidedly prescient and consistent in their degradation of Obama.
The Dow and the S&P 500 are hovering in lofty new-high territory these days. While the major indices basically have done so via a slow grind toward the top this year, it has been a different story for stocks in the emerging markets.
The round table talks are not what the Russians had in mind when President Putin said he supported dialogue. Nevertheless, the Russians are being very careful to not show their intentions yet.
Some of the worst examples of government thuggery are the result of “asset forfeiture,” which happens when governments confiscate the property of people who haven’t been convicted of any crime. Heck, sometimes they’re not even charged with any crime.
Climate change cannot be denied. The inconvenient truth President Obama refuses to accept is that U.S. efforts to significantly alter its course are fruitless, and severely handicap America's ability to mitigate its consequences.
The media has been focused on the sham elections in parts of Ukraine, but it is the election of a new leader in India, which could change the world.
A small group of people-- say central bankers combined with go-getters in a presidential administration-- decide who shall be successful and who shall not be successful. If that's not oligarchy, here's what is.
I have a confession to make. Like other market watchers, I’ve spent the last few years digesting the consequences of the financial meltdown of 2008.
One major difference between exchange-traded funds (ETFs) and mutual funds is that ETFs tend to be passively managed. This means they follow the components of a specific industry group, sector, index, etc.
While theory is important, I suspect most people are more likely to be convinced by real-world evidence. This is why I frequently compare nations when arguing that free markets and small government are the best way of generating prosperity.
I am not a fan of former U.S. Treasury Secretary Timothy F. Geithner. He presided over the politically conceived, patently unconstitutional and anti-free market taxpayer bailouts of banks, automakers and insurance companies in the latter part of the administration of former President George W. Bush, when he was the head of the Federal Reserve Bank of New York, and during the first term of President Obama, when he was the secretary of the Treasury.
Lawrence Torcello wrote an essay suggesting that scientists who fail to fall in line with global warming alarmists should be charged with criminal negligence, and possibly even be thrown in jail. Nothing screams academic freedom like a little intellectual Fascism.
The civil war in Ukraine took a bloody turn for the worse today as separatists killed six Ukrainian soldiers and wounded eight others in an ambush near Kramatorsk in the Donetsk region.
Yes, at a time that Americans were feeling the greatest effects of the Great Recession, Buffett’s company would see almost $4 billion in profits made in less than a year thanks to government money.
Apparently for France, a whole Ukraine is not worth the Russian contract for two ships.
Under the Obama watch all prior “mums the word” seems to have gone out the window. People like Senator John McCain and Secretary of State John Kerry actually encourage both privately and more important publically coups and revolutions to take place.
Live from the Money Show in Las Vegas: The Federal Reserve, apparently, doesn’t learn from its mistakes. Peter Schiff joined the program, live from Las Vegas, to talk about the Keynesians who run America’s fiscal policy.
The recent escalating arguments over whether there should be further congressional hearings on Benghazi are troubling. The fact that there are substantial numbers of people who feel that there is nothing more to investigate when four American lives were lost and no one has answered for this crime provides an indication of how far our sense of justice has slipped.
TARP was the absolute height of crony capitalism. Many of the big banks should have gone down, but in the midst of a “Blackberry panic” – as David Stockman puts it – the masters of the masters of the universe lost sight of reality and the nature of markets.
Economic inequality has emerged as the central political challenge of the 21st Century. Left wing academics and politicians are quick with quack remedies -- higher taxes on the wealthy that will only send more investment abroad and smother growth.
While the US pressures European nations for more sanctions, many of which on individuals who have nothing to do with the crisis, France Won't Cancel Warship Deal with Russia
Satanism isn’t the complete collapse of the moral order; rather it’s the advocacy of immorality as a positive good, as the superior order of the universe-- and even if you don't believe in either Satan or God, one should worry about encouraging people to celebrate evil.
Considering how long it takes the UN and other international agencies to prepare for elections and referenda, the eastern Ukrainians did remarkably well in staging the referendum. The West reported "chaos"; that the referendum was illegitimate and lacked credibility; and implied it failed.
Leader Reid has cast himself as the point man in a campaign by the left to vilify Charles and David Koch. As recently inventoried by The Washington Free Beacon, and as noted by The Washington Post, Reid has vilified the Koch name, at last count, 134 times.
Eleanor Clift declared that the American Ambassador, Chris Stevens, was not murdered… He “died of smoke inhalation”. Hillary Clinton might have suggested that the circumstances leading to Steven’s death don’t matter, but Clift has reached a new level of moral bankruptcy.
Advances in 3D medical printing are quite amazing. Here are some recent articles on 3Ders.Org.
While these figures would still suggest that the U.S. economy is experiencing recessionary conditions, it is a marked improvement over each of the first three months of the year, in which a combined total of 91 U.S. publicly-traded companies acted to cut dividend payments to their owners and shareholders.
I guess we shouldn’t be surprised that a bureaucracy representing governments has a list of policies designed to increase government power. But that doesn’t change the fact that class-warfare policies are destructive.
As an economist might put it, this means there are likely to be policies out there that could save a lot more lives than RomneyCare does per dollar spent.
Sounds like Geithner’s book is another one to pick up in the bargain bin in a couple months along with Thomas Piketty’s.
In the past few days, three candidates who ran for the last Republican presidential nomination, including nominee Mitt Romney, have endorsed a higher minimum wage.
President George H.W. Bush was just awarded a “profiles in courage” award for raising taxes and breaking his read-my-lips promise by the crowd at Harvard’s Kennedy School.