After years of sanctions, some leaders are calling to welcome Russia back to the community of nations. They point out lost business opportunities that might now be explored. However, let the investor beware. Despite appearances of resilience, Russia’s economy is not everything it seems to be. Making any new business deals will … Read more
The new administration announced that the U.S. Mint will stop producing the penny coin. The penny, a mainstay piece of American currency, costs too much to produce. Treasury officials say it takes 3.7 cents to make the copper-coated coin. Thus, the nickel will eventually become the lowest denomination to make change. The … Read more
Economist Friedrich von Hayek once pointed out that pricing’s charm stems from its unplanned emergence without deliberate human creation. Prices make complex processes easier by offering a standard unit of exchange. They smooth out interactions in the face of hurdles like rising transportation costs, material shortages and consumer preferences. However, this delicate … Read more
When the Soviet Union dissolved the day after Christmas 1991, it inaugurated a season of celebration in Miami’s many Cuban neighborhoods. Long-time exiles pulled yellowing deeds and other legal documents out of bank safety deposit boxes, preparing to return to Cuba and reclaim land, homes and businesses confiscated by Castro’s socialist experiment. … Read more
The big problem with debt is that it is addictive. Once a person starts down this ramp, it is hard to stop before insolvency. Addictions give way to irrational action. Sometimes the only way to stop is to crash into something hard. The debt problem is compounded exponentially when the addict is … Read more
The latest meltdown in the crypto-currency market is one more example of the frenetic intemperance of an economy that values profits over wealth. The FTX crypto-currency exchange failed when spooked investors tried to withdraw $8 billion from their accounts. A classic bank run that followed threw the underfunded exchange into bankruptcy. The … Read more
One persistent myth in today’s materialistic society is that money rules everything. Those wishing to understand why people act the way they do are told to “follow the money.” The lust for power and wealth trumps everything. However, there are more important things than money—even on Wall Street. Some liberal businessmen and … Read more
The Economy of Francesco is the name of a 2019 initiative created by Pope Francis to address the world’s economic problems. He invited “young economists, entrepreneurs and change-makers of the world” to participate in studies to explore new ideas to change how people and nations live and manage the economy. On September … Read more
Two of the most sacred tenets of a liberal economy are the notions of moral neutrality and free markets. Wall Street does not get involved in personal beliefs and mores because it is bad for business. As long as the right of property and contracts are respected, the classical liberal is unconcerned … Read more
A society can only truly flourish when centered upon the law of God. It must be guided by the principles of Christian morality and encourage family life as a good in itself. This scenario of a truly Christian society is all too sadly not the goal of so many nations that think … Read more