We are rapidly approaching a position where, though genetic testing and infinite information searching, both the state and some private companies can know everything they need to know. Our genetic predisposition to disease, our dislike of the government, our taste in partners and our risky behaviors in gambling joints, strip clubs, empty roads, Internet porn […]

In general I am in favor of self-determination for small nations. I would have been on South Carolina’s side in 1861 (though not on the issue of slavery, obviously), and in 1991 I was on the side of Slovenia, Croatia, Macedonia and the other dissolving parts of the former Yugoslavia. However, in today’s world it […]

We have had eight, nearly nine years of zero interest rates and negative real interest rates. You don’t have to be a convinced Austrian economist to believe that in this length of time an extraordinary amount of “malinvestment” – investment that is not justified by economic reality – has grown up. Now that interest rates […]

Crunch time is here for the Trump administration, and for us all. President Trump’s economic policies, in particular his deregulation and an ongoing rise in interest rates, will if they work as advertised produce a surge in productivity growth that will allow the United States to pay the bills coming due. If the productivity growth […]