Am I subsidizing Safeway? Why would I ask? Here’s why. My wife and I spend at least $400 a month at Safeway. Safeway doesn’t buy anything from us. So, our monthly trade deficit with Safeway is at least $400. And, in Trump’s view of the world, a trade deficit equals a subsidy. By Trump’s […]

Econlib Blog

20.12.2024

Is inflation meaningful? Is it useful? - Econlib

In several recent posts, Tyler Cowen has stressed the need for better models of inflation. In one case, he expressed exasperation at my claim that (price) inflation is an almost meaningless concept: 4b. More seriously, Scott seems to dismiss the price level concept altogether. For instance he once wrote: “In the past, I’ve frequently argued […]

Econlib Blog

21.12.2024

Confusing Wealth and Consumption - Econlib

Drive into the Whole Foods parking lot, and you’ll see the latest BMWs, Mercedes, Audis, Porsches and Volvos. More relevant than what the 1% are paying is the widening gap between the 1% and the rest of their countrymen who are struggling to pay the food bills at Walmart. So writes Elliot Schiff of […]

Econlib Blog

21.12.2024

Why Does Santa Claus Exist? - Econlib

Every year, millions of parents propagate the myth of “Santa Claus”: an omniscient, magical man bringing near-infinite toys to children across the globe. Santa Claus employs elves and flying reindeer, lives in an inhospitable environment, and necessarily travels 0.5% the speed of light. Despite the obvious dubiousness of these claims, parents invest in the story […]

home›Econlib Blog

Econlib Blog

Economy

Tariffs Hurt Canadians and Americans - Econlib

Is inflation meaningful? Is it useful? - Econlib

Confusing Wealth and Consumption - Econlib

Why Does Santa Claus Exist? - Econlib

home
›
Econlib Blog