economic

When the individual has no rights, only duties. F.A. Hayek’s The Road to Serfdom is one of the more compelling and accessible books in the Austrian economic tradition. The bulk of the book makes the argument that central planning and interventionism inevitably lead to authoritarianism in the plain language that influenced the sale of over 350,000 copies. …

The International Monetary Fund on Tuesday predicted the global economy will see the deepest recession since the Great Depression due to the coronavirus pandemic. The IMF has projected that the global economy will shrink by 3 percent in terms of GDP. By comparison, during the Great Recession of 2008-2009 the global economy shrank by 0.075 …

This morning, the Fraser Institute, a Canadian think tank, published the 22nd edition of its annual Economic Freedom of the World (EFW) report. For a long time, we’ve known that, on average, freer economies are richer, grow faster and have longer life expectancies. But the 2018 edition of the EFW gives us more insight than ever …

Economists expect coronavirus shutdowns will cause bankruptcies to surge in the coming months, a new report says. Federal Reserve researchers predict the number of virus-related bankruptcies could jump by 200,000 to nearly 1 million unless government programs help stem the tide, Bloomberg Law reported Friday. Bankruptcy expert Edward Altman reportedly expects the dollar value of …

True economic resilience comes from the ability to adapt to changes, not ignoring or masking them. Economic downturns are very strange creatures. Regardless of what causes them, the effects are usually the same—people losing jobs, income, and wealth. It’s not uncommon to see war metaphors used to describe an economic crisis—“War in the Time of …

From Spanish flu to Japanese tsunami, governments grappled with the trade-off between public health and economic stability . The coronavirus has unleashed a massive economic shock on the U.S. and the world. It began with disruptions to supply chains and restrictions on travel and is now rapidly expanding via spontaneous and government-imposed “social distancing” measures …

Treasury Secretary Steve Mnuchin announced on Wednesday that President Trump is considering sending checks to Americans to offset the economic impact of the Wuhan coronavirus pandemic. “We are looking at sending checks to Americans immediately,” Mnuchin said at a press conference. “Americans need cash now and the president wants to get cash now. And I …