TRUMP’S PLAYBOOK FOR THE ECONOMY: Trump’s Executive Order 13772 on “Core Principles for Regulating the United States Financial System.” was written to provide the President’s rationale for
wanting to overhaul the U.S. tax code and scale back the excessive government regulations found in the Dodd-Frank Act. Now, one year later after the report came out, and seeing several of the major suggested changes written about in the report actually take place, I am now convinced that this official essay is actually Trump’s “playbook” for the economy. So far he has been executing it just
as it is written.
Believe it or not, there is growing interest—even among market friendly economists—for the government to mail checks to every American. Guess it’s time to explain why this is a really bad idea.read more
FRACTIONAL RESERVE BANKING CAUSES THE BUSINESS CYCLE: by Robert P. Murphy
On April 16, I debated the Cato Institute’s George Selgin on the resolution, “Fractional Reserve Banking poses a threat to the stability of market economies.” I was arguing for the resolution, while George was against. This is an area where even self described Austro-libertarian economists are hotly divided, and moreover fractional reserve banking plays a key role in the book I co-authored with Carlos Lara (How Privatized Banking Really Works). For these reasons, it’s worth summarizing my case in the present article.