Economics

Why Socialists Love the Phrase ‘It’s Not Real Socialism’0
- Economics
- June 1, 2020
The main reason that the socialists have had the staying power that has, luckily, eluded the Nazis is the argument that these self-acclaimed socialist regimes were “not real socialism.” One influential intellectual responsible for popularizing this argument is philosopher Noam Chomsky, who postulates that socialist regimes, the USSR specifically, merely pretended to be socialist to
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Sweden’s Economy Grows in 1st Quarter Despite COVID 0
- Economics
- June 1, 2020
CNBC reports that Sweden, which avoided a hardline lockdown during the COVID-19 pandemic, saw its economy grow in the first quarter. The Swedish economy expanded at a far superior rate than many of its European counterparts over the first three months of the year, data published Friday showed, following the government’s decision not to impose
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Notes From the Asylum on the CARES Act 0
- Economics
- May 29, 2020
When it comes to economics, I must be dumb as a stump. Like many others, I received a letter from The White House this past week announcing that I would receive $1200 from the Coronavirus, Relief, and Economic Security Act (CARES ACT). The CARES Act is bringing “this $2.2 trillion
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A Recipe for Economic Recovery From COVID-19 0
- Economics
- May 28, 2020
With the focus on COVID-19 shifting from the health emergency (easing) to getting the economy going again (glimmers of hope), it’s easy to forget just how good the economy was before the pandemic hit. Recall that in mid-February, financial news organizations were reporting that the S&P 500 and the Nasdaq Composite indexes were hitting record
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Let’s Not Repeat the Mistakes of the Great Depression 0
- Economics
- May 26, 2020
During the Great Recession, President Obama’s chief-of-staff Rahm Emanuel infamously advised, “You never want a serious crisis to go to waste.” And, sure enough, the COVID-19 threat has given politicians another crisis to promote long-sought policy goals. Some are calling for a modern version of the New Deal, but is this a good idea? Setting
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Why Companies Pitch in Without Being Ordered To 0
- Economics
- May 22, 2020
Severe shortages of critical medical supplies have prompted governments to compel private companies to fill the gap. In the U.S., President Donald Trump invoked rarely used powers to force General Motors to make ventilators, while the leaders of France, the U.K. and Japan have put pressure on companies to make more medical supplies. But, judging
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