Both Republicans and Democrats think they can tinker their way to creating an economy with less inequality. Both sides miss the point, and ignore the central role of government fiat money in the problem.
Many claim that great advances in technology come primarily through government spending on research. In fact, government tech spending crowds out other innovations while favoring certain interest groups at everyone else's expense.
Many economists have many theories about why economic growth in many advanced economies is stagnating. Some seem to think it’s irreversible, but a good look at creeping government regulation might offer a few hints as to the true cause.
It's much easier to calculate the direct cost of a tax than the many indirect costs of a government regulation. Nevertheless, government regulations remain some of the biggest millstones around the neck of human progress and ingenuity.
Government loans often feature lower interest rates than what can be found in the private sector. But this is only because these cheap loans are taxpayer subsidized. Meanwhile, the government bans many private loans that risky borrowers need most.
Keynesians believe that more government spending leads to more economic growth, but in addition to crowding out productive enterprises, government spending necessitates the transfer of wealth from the productive class to the government class.
If a customer consents to paying a certain price at the time of purchase, he cannot later claim that he was overcharged. The fact that he was charged the right amount is clear in the fact that he consented to the purchase in the first place.
Interest rates are like prices, and the state should not regulate interest rates any more than it should regulate the price of soda. Regulation will lead to overuse of resources, shortages, and distorted markets.
The present global plague of asset price inflation is transitioning into a new phase. Some optimistic commentators suggest a benign and painless end to the plague lies ahead, but the evidence suggests otherwise.