The thought of abolishing government schools is reflexively appalling to many, but it shouldn’t be. The enormous problems with state provision of schools can fill numerous books, such as Murray Rothbard’s Education: Free and Compulsory and...

The World Trade Organization (WTO) is in a state of crisis. Despite grandiose dreams of a global trade organization that would enforce global bureaucrats' broad vision for multilateral trade agreements, the world looks more...

In chapter 5 we reviewed the textbook analysis of how a central bank buys government debt in “open market operations” to add reserves to the banking system, with which commercial banks can then advance...

The nearest example in modern history to the present medical emergency supply shock is the Organization of the Petroleum Exporting Countries (OPEC) oil embargo of autumn and winter 1973. That earlier shock was the...

The Johns Hopkins University Coronavirus Global Cases Monitor shows that the mortality rate of the epidemic is very low. At the writing of this article, ((1)) there have been 92,818 cases, 3,195 deaths, and 48,201...

This is how the budget process in Washington begins. Step one: the president submits his budget to Congress. Step two: Congress puts the president's budget in a drawer somewhere and forgets about it. Step...

Global policymakers moved to ease public anxiety over the coming economic hit from the coronavirus as analysts warned of a severe slowdown in growth and a possible recession if the virus continues to spread....

Modern monetary theory, or MMT, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The very basis of the theory, the...

Since the EU’s debt crisis over Greece in 2009 and the subsequent problems with Italy, Spain, and Portugal, eurozone banks have dedicated their balance sheets to financing government deficits. At a cost to the commercial...

In its emergency announcement on Sunday evening, the Fed assured us that it “is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its...