The latest benefit scheme making the rounds in time for the elections is student loan forgiveness. Given the great debt burden on graduates, candidates are piling on the bandwagon to find a platform from which to show how benevolent they can be with taxpayers’ money. Student debt now stands at $1.46 trillion with an additional … Read more
A good definition of a liberal might be someone who tries to ignore the actual nature of reality. Thus, many politically correct formulations distort reality even to the point of denying the differences between the sexes. Ignoring the nature of reality can get particularly dangerous when applied to economics. The nature of money calls for having sufficient … Read more
A “frenetic intemperance” is destabilizing our economy. It is a restless, explosive and relentless drive inside man. It seeks to throw off all legitimate restraints and gratify all disordered passions. The Troubles We Now Face Because of “frenetic intemperance,” our economy is coming apart under crushing debt obligations: personal, corporate, state and local government, out-of-control federal … Read more
Ten years have passed since the 2008 subprime mortgage crisis. It was the worst financial panic since the Great Depression. Now it seems that some of the lessons learned back then are being forgotten. Growing debt burdens in emerging markets are igniting new fears of a crisis that could shake economies everywhere. This time the … Read more
When money becomes the primary concern, it creates a dynamism of its own by empowering banks and other financial institutions to expand the money supply.1 This rule encourages many financial institutions to develop complex new financial products, credit innovations, and speculative instruments that enable them to profit from a tense climate of boom or bust. … Read more
With the dramatic rise of bitcoin, many are talking about this crypto-currency as the new money of the future. Such a simplification is understandable, since the matter of money is complex. Not all that glitters is gold. Likewise, what appears to be money often is not. Free Book: Return to Order: From a Frenzied Economy … Read more
When introducing the book, Return to Order, I present the picture of a “party” economy that is frenzied and out of balance. One of the questions I am often asked later is: What can we do to fight the present disorder? People want to know what concrete steps they can take right now. They want … Read more
Everybody is looking for ways to describe the dire state of the world economy. Some have used Crisis with a capital C, a sinking Titanic or a perfect storm. These are all dramatic expressions to describe a very serious situation. However, the latest metaphor being used is even more dramatic. Leading economists are talking about … Read more
As the fall semester begins, students are attending classes and incurring great debt. Uphold Marriage and the Family; Uphold Society: Sign the Return to Order Petition A July report of the Federal Reserve Bank of Philadelphia finds that student loans have increased tenfold since 1999. Even worse is the acceleration of this debt over the … Read more
Much of modern economic thought is based on the idea of man as the “rational optimizer” who always judges his needs and efficiently uses the means at hand to reach his goal. The market supposedly reflects this idea of man. Is Technology Ruining Your Life? Take A Quick Quiz To Find Out By Clicking Here. … Read more
