Understanding Relationships between Money Supply and Liquidity
Can the injection of new money into the economic system enhance economic growth? Not really. Increasing (or decreasing) the money supply affects the demand for money but doesn't make us wealthier. Original Article: "Understanding Relationships between Money Supply and Liquidity"
A Collection of the Political Writings of William Leggett, Two Volumes
A Collection of the Political Writings of William Leggett, selected and arranged, with a preface, by Theodore Sedgwick, in two volumes. (1839) This collection provides important example of populist laissez-faire opinion from the Jacksonian Era in the United States. In terms of
Unprecedented Student Visa Denials in 2022: 35% Rejected
David J. Bier Student visas are the primary jumping‐off point for most high‐skilled immigration to the United States. Immigrants study at America’s elite universities and then find jobs here when they graduate—largely through the post‐graduate employment authorization program called Optional Practical
Will the Precautionary FDA Slow‐Walk Approval of a Promising New Gene Therapy?
Jeffrey A. Singer Gene therapy researchers recently reported an encouraging development that can bring new hope to people at risk for cardiovascular disease. But how long will Americans have to wait before they can use it? CRISPR (Clustered Regularly Interspaced Short Palindromic
The Economic Nationalists Are Wrong: Free Trade Means Freedom and Prosperity
Recently, I had the pleasure of attending a debate about the morality of capitalism between James Otteson and Michael Anton, a defender of economic nationalism. Otteson made a good case for capitalism; however, Anton derailed the debate by choosing to
CBDC vs. Crypto: What’s the Difference?
Nicholas Anthony As more people have become aware of the risks of central bank digital currencies (CBDCs), more people have become confused between CBDCs provided by the government and cryptocurrencies provided by the market. It’s understandable that the two ideas may
Domestic Benefits from Foreign Tax Havens
Adam N. Michel Foreign investment in low‐tax countries complements U.S. production and expands global investment. Low‐tax countries are often derided for either attracting illusory corporate profits without changing true investment behavior or for attracting international investment to the detriment of usually
New Poll: Only 16% of Americans Support the U.S. Adopting a Central Bank Digital Currency, 68% Would Oppose if Gov’t Could See What You Buy
Emily Ekins and Jordan Gygi Washington, D.C.– Only 16% of Americans support the U.S. government adopting a Central Bank Digital Currency or “CBDC,” according to the new Cato Institute 2023 CBDC National Survey Report. The national survey of 2,000 Americans conducted
The Street of the Palaces
[In this 1836 editorial, William Leggett laments how Wall Street and the "privileged" orders of the American upper class employ the power of the state to protect their own financial interests at the expense of ordinary taxpayers. In the nineteenth century,
The Putrid Underbelly of Woke Capitalism
American corporations are lavishing billions of dollars on leftist groups in the name of "equity." But many of them also are donating to even more questionable people and causes. Original Article: "The Putrid Underbelly of Woke Capitalism"