The Federal Open Market Committee (FOMC) has revised up its projection for inflation. In the latest Summary of Economic Projections, the median FOMC member projects 3.1 percent inflation in 2023,…
Category:
Economy
The United States might be a democracy in form, but most policies are developed without even a semblance of public participation. For instance, policymakers overwhelmingly believe that the US should…
Thousands of passengers this holiday season bought plane tickets for short-hop flights, only to find their journeys had been converted to bus tickets overnight. Thousands more were stranded as major…
The turning of the New Year is a time for cheer and refreshed hope. Happy 2023! It is also a time for reflection, however, and we cannot escape the fact…
America is in the midst of an identity crisis, and it’s probably not the kind you’d think. Our nation is wrecked by an abysmal economy and unhappy people losing confidence…
Economists use aggregate demand and aggregate supply (AS-AD model) to understand how inflation and real income growth are jointly determined. The four components of the model are: Aggregate demand (AD):…
Too few Americans, even among the liberty-loving, exhibit sufficient understanding of America’s smaller-government past to articulate a realistic smaller-government future. Many libertarians can parse doctrinal differences between Hayek, Mises, Rand,…
Comparing Christmas today with Christmases past, David Waugh and Laura Williams eloquently explain that we ordinary Americans in 2022 are far wealthier than were ordinary Americans of just a few…
Innovation and exchange can be frustratingly uninspiring, particularly given that there are concentrated, vivid costs (in the form of lost jobs and struggling communities) and benefits dispersed across millions of…
On Christmas Eve, 2022, in North Carolina, something happened that had never happened before in living memory. People across the state were alerted by their power company, Duke Energy, that…