The Trump Presidency will be a race between two gigantic opposing forces. On the one hand, the lunatic asset prices that now prevail, both in stocks and real estate, have a very long way to fall – in the Austrian economic sense, there is a gigantic amount of malinvestment that must be liquidated. This fall […]

H1B visas are not slavery. However, they place their recipients in an inferior, immobile tier of the labor force that by preventing them from moving freely between employers, allows employers to exploit them at wages below the U.S. market level. In this respect, they serve the same economic function as antebellum slavery, providing a non-market […]