Economy

Can we talk about inequality when we compare the free choices of different individuals regarding what education to get or what job to start? In a competitive market, we cannot expect everyone to earn the same, and very often people confuse the difference in wages with discrimination or inability to …

Andreas Marquardt Inflation, defined as the expansion of the fiat money supply, is a primary evil whenever and wherever it occurs. It is the primary and most overlooked cause of many economic and social problems, including: 1. Inflation causes the economy to be cyclical An increase in the money supply, involving more lending, means that new …

The short answer to the question in the title is “nothing,” or at least none of the goals that European central bankers state to the public. But before that, let’s take a look at the details of the decisions. At its last meeting on September 4, 2014, the board of the European Central Bank (ECB) took several measures that …

For those familiar with the nature and history of major political movements in the US and UK, it is clear that one of the main elements of what is considered the “right” is the so-called fiscal conservatism. The idea that the state apparatus should (at a minimum) spend as much as it can collect through the tax system, and …

Janet Nielsen Canada was once a laughing stock when it came to economic freedom. A Wall Street Journal article in the mid-1990s called the country an “honorary member of the Third World” because of its out-of-control debt and government spending. But today, the same country leads the G8 in economic indicators, and …

Jeffrey Tucker I'm thrilled when McDonald's hamburgers get the attention they deserve. That's what happened last year, when Stephen Dubner, co-author of "Freakonomics," made the provocative claim that they're the cheapest, most nutritious food in human history. The fact that we dare to reject that claim actually shows how spoiled we are. …

At the very end of last week, the results of a study commissioned by the Ministry of Labor and Social Policy and conducted by the Bulgarian Academy of Sciences were published, which concluded that: "Minimum social security income (MSI) and the minimum wage (MW) do not negatively affect employment and do not reduce it." These are ...

The law is very rarely – or rather, almost never – a reflection of reality. On the contrary – the law is a reflection of the will of the legislator regarding what reality should be. It is for this reason that most attempts to model human behavior with the help of legislation are doomed ...

Almost six years after the bankruptcy of Lehman Brothers, which officially marked the beginning of the latest global financial crisis and the subsequent Great Recession, almost all international institutions of the rank of the International Monetary Fund (IMF) continue to strongly advise governments around the world to use various forms of fiscal and …

Oliver Mark Hartwich For Germans, July 8th was a good day. Not just because it was this author's birthday or because of Germany's pleasant 7-1 victory over Brazil in the World Cup, but also because this year, it is Tax Freedom Day. …