Minor Issues

Cuba was once a famous vacation destination for Americans. Although we can now travel to Cuba, most Americans have been deprived of various forms of trading with the Cuban people. Likewise, Cubans have been deprived of trading with Americans and visiting their American relatives. Does anyone think this situation is good for Americans? Does anyone think this impasse is good for Cubans?

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Mark Thornton looks forward to 2025—and a little bit backward at 2024—and projects what we might see in the coming new year. He also shares his economic "wish list" for the younger generation in 2025. 

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Will Americans slay our Leviathan government and restore the American dream? Or, will we fail, and continue to allow cronies, fat-cat politicians, and bureaucrats to live off the fruits of our productive labor? Mark Thornton discusses some pertinent lessons from the French Revolution.

"The Brilliance of Turgot" by Murray N. Rothbard: Mises.org/MI_A

The Turgot Collection: Writings, Speeches, and Letters of Anne Robert Jacques Turgot, Baron de Laune, edited by David Gordon: Mises.org/MI_B

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Is the black-market economy immune to inflation? It would seem that the price of illegal pot has been declining or steady for several years while legal pot is higher in price and everything else has increased in price. We have all been suffering from higher prices, lower quality, and poor service. Is marijuana the magic elixir for economic performance and a cure for the Fed’s inflation? Might it help make America great again?

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Mark Thornton discusses why increased government spending not only explains ongoing wayward increases in the GDP, employment, and stock price numbers, but also why so many people decided to vote against the incumbent in favor of the challenger, Donald Trump. The key variable is that government spending in GDP statistics does not reflect true economic value the way your personal spending does.

"Federal Government: Current Expenditures" (Federal Reserve Bank of St. Louis): fred.stlouisfed.org/series/FGEXPND

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In What Has Government Done to Our Money? Murray Rothbard changes your whole view of the world—not just money. He opens our eyes and clarifies the mysteries of money, banking, and the role of government.

See also Economic Depressions: Their Cause and Cure by Murray Rothbard: Mises.org/Cure

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The gold standard hampers the growth of government power, which helps people more effectively fight bad policy—like the disastrous War on Drugs.

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Yes, college professors are 10-to-1 Democrats over Republicans. Mark Thornton reviews some of the technical literature on the political ideology of college professors in the United States.

"Economics laureates should disclose their political ideologies in policy petitions" by Emre Kuvvet (Economic Affairs, PDF): Mises.org/MI_95_A

"Your Kids Are Already Communists, and College Will Make It Worse" (Minor Issues, Episode 89): Mises.org/MI_89

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Very difficult economic headwinds of the business cycle are coming right at us. Inflation is still a problem, the employment picture is increasingly difficult, the delinquency rate on credit cards for small banks is at an all-time high, auto loan delinquencies are at a thirteen-year-year high, and asset prices are vulnerable to disappointing business activity levels and profits.

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Government's power to control our lives—its power to tax and spend, and the enormous, but largely cloaked power to print money—has created the “great divide” in America. Unfortunately, it has pitted Americans against each other.

"Main Street Uncertainty Reaches All-Time High" (Small Business Optimism Index, September 2024): Mises.org/Minor_93_A

Order a free paperback copy of Murray Rothbard’s What Has Government Done to Our Money? at Mises.org/IssuesFree.

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