On June 10, Switzerland will vote on a new system of “Vollgeld” that would abandon fractional reserve banking and centralize money creation in the central bank. It appears to be an improvement on the current system, making bank runs almost impossible and reducing leverage, but its opponents are correctly saying that by centralizing all money […]

Senator Marco Rubio wants to tee up yet another set of tax cuts, not oriented towards economic growth, that will further widen the U.S. budget deficit. Argentina is about to borrow $30 billion from the IMF, since it is unable to get close to balancing a budget, based on spending that is 60% higher as […]

The 200th birthday of Karl Marx on May 5 passed with several indications, in both Europe and China that his appeal is not dead, and indeed showing considerable signs of revival. China has significantly reversed its move away from Marxism, whereas elements in the EU High Command seem to be recognizing that a centralized Marxist […]

While we are in a brief period of decent global growth, the underlying productivity trends in rich countries are disquieting. What’s more, it now seems likely that, except in the United States, we will not escape the zero-interest rate lunacy before the next downturn. Even more disquieting is a re-acceleration of global population growth, so […]