Introduction Economics textbooks feature a coherent theory of how markets can allocate scarce resources in ways that achieve what is plausibly described as…
Some economists have likened entrepreneurs to heroes, praising their role in disrupting industries and driving progress. Joseph Schumpeter, for instance, famously described them…
Over the past three decades, Japan’s monetary policy has been characterized by near-zero interest rates and significant quantitative easing (QE), aimed at countering…
With declining birth rates and an aging population, Social Security’s fiscal position is worsening by the year. Per the latest OASDI Trustee’s Report,…
The latest inflation data from the Bureau of Economic Analysis largely confirm market expectations. The Personal Consumption Expenditures Price Index (PCEPI), which is…
