Since interest rates supposedly have a strong effect on unemployment, how can forecasters be so right about unemployment if they’re so wrong about interest rates?
Freedom requires more than the absence of laws and taxes. True freedom of choice requires the capability to make that choice — and the free market doesn’t always give us that capability.
The notion that the poor are uniquely morally deficient, it turns out, is completely backward. They’re actually more virtuous, on average, than the rich.
On the 50th anniversary of the War on Poverty, many Americans are still operating under the assumption that people choose to be poor and unemployed, that they’d rather be lazy than rich, that they can afford the basic necessities of life. But the numbers tell a different story.
If too much money goes to the One Percent and not enough to the 99 Percent, the economy will save more and more and spend less and less, until there isn’t enough consumer demand to justify increasing production and investment. Thus, the economy will slow down.
The more of the law that’s implemented, the better the economy seems to perform. How can that be?