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Bubble Economy
Noah Smith asks: What is a “bubble”? Well, it’s something that looks like this: Prices go way up, then they crash back down. Look at any long-term plot of any asset price index (stocks, housing, etc.)...
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The Meaning of Libertarian
I’ve been giving libertarianism some thought over the past few days. My natural instinct when people attack (most) libertarians and libertarianism in general is to become quite defensive. To me,...
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The Real Testosterone Junkies
I especially enjoy reading things that I disagree with, and that challenge my own beliefs. Strong ideas are made stronger, and weak ideas dissolve in the spotlight of scrutiny. People who are unhappy...
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The Burden of Government Debt
There has been an awful lot of discussion in recent months about whether government debt is a burden for future generations. The discussion has gone something like this: those who believe government...
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Of Wages and Robots
There is a popular meme going around, popularised by the likes of Tyler Cowen, Paul Krugman and Noah Smith that suggests that recent falls in worker compensation as a percentage of GDP is mostly due to...
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Do Creditors Exploit Debtors, or Vice Versa?
I’m asking this question because I think a proper understanding of the answer is a giant leap toward grasping the geopolitical realities of the relationship between America and China. This discussion...
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Do Wages Benefit From A Shrinking Labour Force?
Dean Baker says yes: The retirement of the baby boom cohorts means that the country’s labor force is likely to be growing far more slowly in the decades ahead than it did in prior decades. The United...
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Will Gold Be a Medium of Exchange Again?
While gold is widely held as a store of purchasing power, and while it is possible to use gold as a unit of account (by converting its floating value to denominate anything in gold terms), gold is no...
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