in “The Big Blue Cities,” TLR discussed how polarization in America resulted in a geographical Great Bifurcation, contrasting the social, political, economic and aspirational goals of city-dwellers – those living in Big Blue Democratic Cities (including New York, Boston, Philadelphia, Washington, D.C., Atlanta, Miami, Chicago,...

America’s tax system was built by capitalists for capitalists, for incentivizing job creation and business innovation, for encouraging class mobility.  It’s a cornerstone of American democracy in a nation regarded as the exemplar of democratic capitalism.  It succeeded spectacularly in the 20th Century, driving America’s...

Goldman Sachs issued a stern warning on July 28, 2020: There now are “[r]eal concerns around the longevity of the US Dollar as a reserve currency,” noting that “expanded balance sheets and [America’s] vast money creation spur debasement fears.” Are those fears warranted? Is the US...

The Federal government is giving away money to bailing out America’s airlines. With Covid-19 ravaging airlines’ bottom lines, many believe this to be appropriate, an economically-wise decision. It isn’t. There are terribly consequential choices that governments have to make in order to ensure the well-being of their...

Inflation and deflation are often thought of as macroeconomic trends that impact broadly on national economies.  Not always so.  Although historians are prone to define periods broadly as inflationary or deflationary, they most often are doing so by measuring only labor and retail price movements....

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