Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

 

The results of the U.S. mid-term elections were good news for not only the winners, but for most Americans. Yes, the federal government works better when divided, not unified. The 116th Congress—with the House of Representatives controlled by the Democrats and the Senate and White House under Republican command—may work better than the unified 115th Congress did.

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

 

Public infrastructure in the U.S. is in bad shape and has been so for many years. Washington has fingered the importance of doing something about the decrepit state of America’s infrastructure for decades. It’s the bipartisan thing to do.

In 1944, my good friend, the late Nobelist Friedrich Hayek (1899-1992), published the Road to Serfdom. Such is Hayek’s Road to Serfdom, a road that Zimbabwe has taken. The pilot who took this road was Robert Mugabe. He was aided by the political party he controlled, the Zimbabwe African National Union – Patriotic Front (ZANU-PF), and henchmen, like Zimbabwe’s current President Emmerson Mnangagwa and current First Vice President Constantino Chiwenga.

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

 

Since the murder of Jamal Khashoggi in the Saudi Consulate in Istanbul, oil prices have plunged by 11.92%. Just today, West Texas Intermediate (WTI) shed 4.56%. At present, WTI is trading at $66.05/bbl. That’s well below the high for the past year of $76.90. It’s also well below my forecast for the year’s end price of $75/bbl.

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

 

Venezuela is suffering from the ravages of hyperinflation. Alas, the word “hyperinflation” is thrown around carelessly and misused frequently in the financial press. Indeed, the debasement of language in the popular press has gone to such lengths that the word “hyperinflation” has almost lost its meaning.

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

 

As the United States’ dangerous trade war with China, and a host of other enemies, ratchets up, it’s time to take a close look at the facts under the magnifying glass of economic logic.

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

 

Two hallmarks characterize capitalist economies. Firstly, property is predominately in private hands. Consequently, goods and services are allocated via market mechanisms in which prices provide signals for businesses, workers, and consumers. Secondly, capitalist economies are highly capitalized. Indeed, the stocks of physical and human capital are relatively large in relation to the capitalist economies’ income flows.