When free market economists talk about markets deciding this or that, they are reifying a social institution and ascribing to it decision-making power. Socialists make the same mistake when they blame markets for the results of human action.Read More
About the Author
Dr. Paul Craig Roberts attended four of the finest universities, studied under two Nobel Prize-winners in economics, authored 20 peer-reviewed articles in journals of scholarship, and published four academic press peer-reviewed books, including Harvard and Oxford Universities, and seven commercially published books. His most recent book is The Neoconservative Threat to World Order: Washington's Perilous War for Hegemony.
So what is happening to the Federal Reserve’s balance sheet? And when will the Fed have no recourse but to print new money in order to finance the federal deficit? How long can the dollar retain its reserve currency role in such circumstances, and how does the U.S. pay for its imports when this role is lost?Read More
The greatest human achievement is the subordination of government to law. In the first decade of the twenty-first century, this achievement was lost in the United States and, perhaps, in England as well.Read More
Obama’s dwindling band of true believers has taken heart that their man has finally delivered on one of his many promises–the closing of the Guantanamo prison. But the prison is not being closed. It is being moved to Illinois, if the Republicans permit.Read More