Socially Unjust Inflation: Why Recessions Are Inevitable and Salutary
Inflation is profoundly socially unjust. Its causes lie above all in an expansionary monetary policy, and this must be stopped. If policymakers want to prevent the inevitable recession that will follow, they will only make the problems worse.
“Doux Commerce,” or the Peacemaking Power of Trade: Just a Dangerous Illusion?
Does trade among nations promote peace? The liberal-minded Enlightenment affirmed this under the phrase “doux commerce.” At present, however, we are witnessing how economically closely linked nations are at war with each other.
The Governments Were Financed Through by the Printing Press, And Now We Have Inflation
The rise in inflation does not fall from the sky. Inflation means general devaluation of money, not an increase in individual prices. It is the result of the money glut of the last several decades. Avoiding the dramatic consequences could make things uncomfortable.
The Earned Income Tax Credit (EITC)—The Best Social Program in the World
Economists and researchers in the U.S. agree: the Earned Income Tax Credit helps millions of households stand on their own two feet. Work is rewarded, and with the help of this program, one million children have escaped child poverty.
Globalization Before and After the Covid-Pandemic: Should There Be a New Normality?
It is not globalization, nor the market economy, nor capitalism that is a danger and should be reformed; it is the policies that might provide the wrong, anti-market response to the pandemic that are the real danger precisely to the growth of prosperity in the world’s poorest countries.