I fell a bit behind sharing econ articles, so here are a bunch at once.
The Myth of the Unchanging Value of Gold
Many economics textbooks claim that a function of money is to measure the value of goods. In fact, the value an individual attaches to a given sum of money or to any kind of good (including gold) is based on a subjective judgment and is without physical dimensions.
How Governor Whitmer Doomed Detroit Autoworkers
In 2022, Michigan Gov. Gretchen Whitmer used political favors and government grants to maneuver thousands of workers into jobs producing electric trucks. But consumers aren’t interested.
Bank Crises and the Interventionist Spiral
As the US banking system becomes increasingly unstable, the calls proliferate for even more government intervention into banking and finance. People forget that it was government intervention in the first place that caused these crises.
Javier Milei Understands the Road to Serfdom
Javier Milei is trying to undo the damage created by nearly a century of socialism in Argentina. Mises, Rothbard, and Hayek were good teachers.
The Fed Claims the Banking System is "Sound and Resilient." The Banks' Balance Sheets Say Otherwise
In a recent statement, the Federal Reserve declared that US banks are "sound and resilient," but a lot of markets, including real estate, testify to a very different situation.