Economics


Why Does Bitcoin Have Value?

by Valentin Schmid

This article was posted originally at the Epoch Times. Up 158 percent against the U.S. dollar this year, bitcoin is now the best-performing currency. Many are confused as to how this mathematical protocol can be worth more than $2,600, and why it keeps going up. The short answer: Bitcoin is money, just a little better and […]


Last week, Jeff Bezos sent Keynesian economists into a frenzy with the announcement that Amazon.com would be purchasing the Whole Foods grocery chain. So why were the Keynesians in despair? Because Jeff Bezos is going to lower your grocery prices. You read that right. Take this coverage from Bloomberg: When online retail giant Amazon.com Inc. […]


This article was posted originally at the Epoch Times. The one force that causes the most harm in our economy also happens to be the least well-known and understood. While the left blames greedy corporations and individuals, and the right blames the government, it is in fact the collusion between the government and private banks that […]


Recently, liberal New York state assemblyman Anthony Brindisi stirred controversy by claiming that Rochester-based ‘Genesee Brewery’ was using state tax dollars to purchase Chinese fermentation tanks. While Brindisi is outraged that Genesee didn’t ‘Buy American’ when expanding their brewing capacity, the assemblyman’s remarks reveal how clueless he is to the real economic malfeasance at play […]


Seattle will become the 8th city in the United States to tax sugary beverages, after a 7-1 city council vote yesterday. Since soda consumption has become the “crisis du jour” for liberals looking for an excuse to raise taxes, it is imperative to scrutinize the claims made by soda tax proponents before more cities fall […]


Conservatives should take the same approach to the politics of the Paris Accord that Liberals always take to reforming Social Security/Medicare. Ask them: Why do you hate poor people? Do you really want to make a single mother working two jobs pay double or triple for her energy bills when she can’t even afford to […]


Today, President Trump sent Congress a $4.1 trillion spending plan designed to balance the bloated federal budget over the next decade. Although presidential budgets have historically been given little weight among members of Congress, Trump’s budget still serves one important function — revealing the foolish pessimism that liberals have for America. The administration estimates that, […]


A new study by University of Chicago and University of California, Berkeley scholars Chiang-Tai Hsieh and Enrico Moretti suggests an economic villain shocking to the liberal imagination: San Francisco and New York. Yes, San Francisco, the glittering cosmopolis of the new money, and New York, the towering stronghold of the old money, are together responsible […]


This article was posted originally at the Epoch Times. Mainstream economics is under heavy pressure. Consistently wrong policies and forecasts have damaged the field dubbed “the dismal science.” But what do critics propose should supersede the prevailing neo-Keynesian and neoclassical schools? Almost all alternative economists are calling for more government involvement to “fix” the free market and […]


Last week, the much-hyped, multi-day “Fyre Festival” in the Bahamas was cancelled amid chaos on the Bahama Island of Great Exuma. While much has been written on the shocking incompetence of Fyre’s event planners that charged patrons exorbitant ticket prices to be stranded on an island with little food, water, shelter, or electricity, less has been […]


We all just saved thousands of dollars on our income taxes by switching to the GOP! (Well, maybe…) The Trump Administration unveiled the basic outline for the Trump tax plan yesterday, which they referred to as “the biggest individual and business tax cut in American history.” You can read their one pager here. The plan […]


Recently, Politico reported that former Treasury undersecretary Randy Quarles will likely be nominated as the Federal Reserve’s top bank regulator. Since a potential Quarles appointment is viewed by some as a continuation of “business as usual” at the Fed, it’s prudent to revisit the Fed’s recent ineptitude that has shrunk its credibility. This Friday, the […]


Happy Tax Day! In commemoration of Americans’ least favorite day of the year, here are seven reasons why everyone is perfectly justified for hating tax season: 1.) Americans spend way too much time and money filing their taxes. According to the Tax Foundation, Americans spend over 3.24 billion hours and $37 billion filing their individual […]


With President Trump’s 100th day in office fast approaching, his administration has already delivered on some of his key economic promises, including slashing regulations, instituting a federal hiring freeze, and approving the Keystone XL pipeline. And now that the President is thoughtfully considering the impact of our monetary policy, he is also one step closer […]


In my most recent column in Forbes.com, I said the infighting in the West Wing was an inevitable outcome of the long economic stagnation that President Trump inherited. The solution does not reside in the President’s firing, demoting, or reorganizing his team or in having the feuding team members “work this out.” It lies in […]


Private colleges in New York are worried. They should be. Gov. Andrew Cuomo’s newly passed legislation — offering free tuition at state universities and community colleges to students in families making up to $125,000 a year — is going to put a lot of private schools out of business. I’m not sure that’s a bad thing. […]


Years after former New York City Mayor Michael Bloomberg put soda in the nation’s crosshairs with a proposed ban on large beverages, soft drinks are once again being targeted by nanny-state politicians looking for an excuse to raise your taxes. But this time, their efforts are even more absurd. Ronald Reagan famously said, “Government does […]


Lazy economic pundits argue that a return to the gold standard is impossible because “there is not enough gold.” Fortunately for those who want wages as good as gold, this line of attack is completely Fake News. Incurious economic reporters believe the following: since gold is a finite resource, if we make the dollar convertible […]


Yesterday, liberals on Twitter — and dozens of journalists — rushed to retweet a story from the Associated Press claiming that the North Carolina so-called “bathroom bill” law, HB2, cost the Tarheel State an estimated $3.76 billion in economic impact over 12 years: Over the past year, North Carolina has suffered financial hits ranging from scuttled […]


The release of President Donald Trump’s budget last week set off a bipartisan outrage that gave new meaning to the phrase “March Madness.” As beltway bureaucrats come to terms with the fact that President Trump is actually determined to shrink the size of government, the rest of America is celebrating a budget that would lead […]