A Tale of Two Hyperinflations

Hyperinflation is defined by ever-increasing inflation and the public’s subsequent loss of all confidence in the value of currency. Different economic texts draw different lines as to what is severe inflation versus hyperinflation, but all of them agree that deficit financing is always the reason a country experiences hyperinflation. Many argue that our technocrats are…

Details

Wenzel on the Minimum Wage

Your lecture of the week this week is Robert Wenzel pretending he is in a lecture hall, and explaining why 2 + 2 can never equal 5, no matter how many academic studies try to prove otherwise. In other words, Wenzel specifies why deductive reasoning is more important in economics than studies are, and what…

Details