With the Senate’s recent confirmation, Janet Yellen will soon become the most powerful woman in the world. When she takes over the reins of the Federal Reserve from Ben Bernanke on February 1st, she will become the 15th Fed Chairman
Re: Renewable energy fiasco in Germany Here are the basics of electricity generation–it must provide either base power or on-demand power, and it cannot be stored. Base power today is provided mostly by nuclear and coal plants and some hydroelectric.
Over at EconLog, economist Bryan Caplan tries to illustrate the absurdity of government restrictions on labor movements by making an analogy with mineral wealth: Imagine scientists discover a new substance that reverses aging. They name it Leonium, after Ponce de Leon.
In an interview with the Federal Reserve Bank of Richmond, big-gun Chicago School economist and blogger John Cochrane said many insightful things. The following excerpt was not among them: We no longer have to hold an inventory of some special
Re: Raising Savings, by Allison Schrager Dear Sirs: Although Ms. Schrager’s heart is in the right place and she says many good things about the need for a higher level of savings, she makes apparent in many places that she
Economists view the money creation process through two separate channels. Each has its own economic effects as well as risks. In the current fiat monetary system, central banks can increase the amount of base money through their open-market operations. The
Shortly before the Christmas holiday, beloved liberal stalwart Senator Elizabeth Warren introduced a bill in Congress to ban companies from performing credit checks on prospective employees. In a press release accompanying the bill, Warren reasoned that poor credit history isn’t
Re: Jim Rickards predicts the price of gold In this four minute interview Jim Rickards predicts that the price of gold will go to “$7,000 or $9,000 or even higher”. (The price becomes infinite if all confidence is lost in
The current recession has one explanation in the lack of savings over the past decade. As Americans saved less, foreign funds had to flow into the country to fund the consumption- and investment-led booms. Now these borrowed funds need to
Reprinted from Circle Bastiat Nelson Mandela, public face of the anti-Apartheid movement and South Africa’s first post-Apartheid president, has died. Much will be written about Mandela in the coming days, but little of it will deal directly with the Apartheid