This Is What Could Trigger Big Growth in CPI Inflation

Many episodes of monetary inflation, some even long and virulent, do not feature a denouement in a sustained high CPI inflation over many years. Instead, these episodes have the common characteristics of asset inflation and the monetary authority levying tax in various forms – principally inflation tax or monetary repression tax. For the monetary inflation to undergo combustion into sustained high CPI inflation it must generate necessary one or two necessary conditions. First, currency collapse; or second, a credit boom which spawns a persistent tendency of demand to exceed supply…

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What They Must Learn Now

Twenty twenty was the year college changed forever. How many US universities have been mortally wounded? Covid was the pretense. But the writing was on the wall for decades. Skyrocketing tuition. Useless majors and degrees. Leftist ideologues masquerading as professors. Woke curricula instead of rigor and truth. Many students leave with tens or even hundreds of thousands of dollars of debt. And for countless graduates, little to show for it all in terms of marketable skills or job prospects. The Mises Institute, in stark contrast, held one of its most…

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Guatemala: The Human Rights Nightmare That Is the US Drug War

Vice President Kamala Harris visited Guatemala earlier this week to bestow millions of dollars in new foreign aid on that government. The Biden administration is pretending that giving more US tax dollars to Central American governments will miraculously reduce the surge of illegal immigrants that Biden’s appointees are welcoming in Arizona, Texas, and elsewhere. The purpose of Harris’s trip and the new handouts is not to solve that problem but simply to make the Biden administration appear to give a damn about the issue. In her official statements during the…

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Is Guaranteed Basic Income the Solution to Robots Taking Our Jobs?

The idea of universal basic income (UBI) is near the peak of the hype cycle. Democrat Andrew Yang made it the flagship issue of his presidential campaign. A small industry of advocates tirelessly push arguments in its favor. I will address two in this piece. The first: the claim of permanent elimination of jobs. The second: the resulting need for income to compensate for the fall in purchasing power from the lack of work. Both rely on long-discarded economic fallacies.  No one doubts that robots, software, and automation eliminate some…

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