By Faruk Okcetin, TES Contributor Ralph Benko, the author of The Ten Commandments of Capitalism: The Secret Recipe for Equitable Prosperity, despite the title of his book does not pretend to be a divinely inspired prophet. Moses came down from Mount Sinai, locally called Jabal Musa, to provide humanity with the most basic principles of […]
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The biggest blunder in the coronavirus crisis: nativism
By Rainer Zitelmann, TES Contributor In business administration, “best practice” refers to the method of learning from other businesses and industries and adopting exemplary methods, practices or procedures. Applied to the coronavirus pandemic, this would mean: let’s look around the world and see where the fight against the virus is most effective – and […]
China gained on America in 2020 and hopes to pass us by 2028
By Ernest Istook, Frontiers of Freedom China gained on the United States in 2020 and hopes to build on that momentum to gain more in 2021. Once China pursued a “Great Leap Forward.” Now they have three plans: military expansion, “Made in China 2025,” and their Belt and Road Initiative (BRI). Each involves […]
As Brexit Looms, EU/UK Trade Issues Rise
By Andy Blom, TES Washington Editor After years of struggle and indecision, Brexit is happening, deal or no deal. In a rare instance of political backbone, British Prime Minister Boris Johnson has said Britain is leaving on January 1, regardless of the state of negotiations. We all should have figured that leaving a bureaucracy […]
EU Banks Need a Shakeup
Economic recovery after COVID-19 requires a clear vision for a healthy banking sector By Alexander Lehmann and Reiner Martin, courtesy of the Bruegel Institute The end of payment holidays and the winding-down of public support schemes in the post-COVID-19 recovery will expose large stocks of non-performing loans (NPLs). European Central Bank estimates, based on earlier […]
NYT gets it wrong on WTO
“Some Comments on a NY Times Op‐Ed on the WTO” By Simon Lester, courtesy of the Cato Institute Yesterday, Farah Stockman of the NY Times editorial board published an op‐ed on the World Trade Organization entitled “The W.T.O. Is Having a Midlife Crisis.” The WTO is only 25 years old, so I’m not sure “midlife crisis” […]
Black Markets Reveal the Power of Economic Laws
By Allen Gindler, courtesy of FEE, via Fundacion BASES If we consider economics to be an objective science, its rules should also have universal meaning and use, despite differences in social order. However, socialists in the materialist camp are committed to the idea that common ownership of the means of production would change the […]
Deflation: Friend or Foe?
By Luis Pablo de la Horra, courtesy of the Austrian Economics Center Deflation is the most feared economic phenomenon of our time. The reason behind this a priori irrational fear (why should we be afraid of prices going down?) is the Great Depression. The most severe economic crisis of the 20th century was accompanied by a […]
“Most Favored Nation” Scheme May Lower Prices, But It Won’t Help Medicare Beneficiaries
By Krisztina Pusok, American Consumer Institute Back in September, President Donald Trump signed an Executive Order that instructed the Department of Health and Human Services (HHS) to design a “payment model” that would see Medicare Part B beneficiaries and the federal government pay “no more than the most-favored-nation price” for medication. Recently, the HHS announced […]
OECD Tax Proposal Will Harm Environmental Protections
By Steve Pociask, American Consumer Institute Last October, the Organization for Economic Cooperation and Development (OECD) released its Pillar One and Pillar Two Blueprint, a plan that would fundamentally change tax rules between nations. The OECD also gave, until December 14th, an opportunity for public comments. In the comments we submitted, we concluded that […]