Follow Up on Bank Secrecy Act Data
Nicholas Anthony Last week, I wrote about how there is a lack of official statistics regarding the effectiveness of the Bank Secrecy Act and how what little information exists is troubling. However, a few folks were kind enough to point out that the Financial Crimes
Five Rotten Reasons to Oppose Infant Formula Trade Liberalization
Gabriella Beaumont-Smith and Alfredo Carrillo Obregon On May 31, 2023, legislation was introduced to lower U.S. barriers to imports of infant formula and infant formula base powder. As we and our colleague Scott Lincicome have explained (repeatedly), eliminating tariffs is one
The Market Process Is Not a Knowledge Problem
Friedrich Hayek’s essay “The Use of Knowledge in Society,” published in 1945 in the prestigious American Economic Review, is often hailed as an important contribution to economics. Rightly so, because it provides important “meat” to the price theory “skeleton.” However,
A New Underground Market in E‑Cigarettes Will Soon Begin Flourishing in Australia
Jeffrey A. Singer Writing in the Australian journal The Quadrant a year and a half ago, I criticized the Australian government’s plan to prohibit residents from purchasing e‑cigarettes without first getting a state‐licensed health care practitioner’s permission slip (aka, a prescription). I wrote: It makes no sense to
Energy and Economic Efficiency: The Market versus the Politicization of Our Energy Futures
Radical environmentalists have convinced people that we are doomed if we continue to use fossil fuels. We are doomed if we stop using them. Original Article: "Energy and Economic Efficiency: The Market versus the Politicization of Our Energy Futures"
Rise of the Effete Authoritarians
Here in the West, particularly in countries such as the United States and Canada, we have experienced radical political and cultural changes over the past several years, and the pace of these changes seems to have accelerated since 2020. In
The Five Stages of Bank Failure Grief
We are familiar with the five stages of grief. However, it is not a stretch to apply those stages to what is happening to the banking system. Right now, we are in the second stage: anger. Original Article: "The Five Stages of
Crowding Out: The Fed May Be Killing the Private Sector to Save the Government
A "soft landing" is impossible unless the government cuts both taxes and government spending at the same time interest rates are rising. This won't happen, so get ready for a hard landing. Original Article: "Crowding Out: The Fed May Be Killing the
Bank of England Economist: Britons Need to Accept That They’re Poorer
Although the Bank of England is largely responsible for inflation in the UK, its leaders blame British consumers and workers for the price increases. Original Article: "Bank of England Economist: Britons Need to Accept That They’re Poorer"
Energy Prices
While talk of high gas prices is no longer a headline issue, energy economics is still a vitally important aspect of understanding the economy, including the business cycle. Mark explains the basics, tells us where we now stand, and what the major implications