bust - Michael DeVinney

Boom and Bust

Injecting more fiat money into the economy creates an artificial boom. The boom period is not good for the economy. … Read the rest

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Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.
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Mainstream economists today examine economic phenomena from a “black box” perspective in which they look at inputs and outputs without trying to understand causal mechanisms that make the outcomes possible.
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