Texas goes for the gold

The state of Texas is striking a blow for the gold standard, starting a gold-backed bank. [Read more...]

Greeks accept austerity after all

The Greek government accepted the austerity it had opposed and the people had voted against, taking the terms of the European Union bailout. [Read more...]

Puerto Rico and the minimum wage

Liberals think that a good way to help the poor is to just raise the minimum wage.  Conservatives counter that this would have the perverse incentive of causing employers to hire fewer workers, thus increasing joblessness and poverty.  Who is right?

According to Charles Lane, Puerto Rico’s financial woes that we blogged about began when Washington lawmakers decreed that this U.S. territory with a less-developed economy adopt the American minimum wage. [Read more...]

How the Greek economy is like ours

Greece has racked up a huge national debt and has such low economic growth that it is impossible to service that debt.  Economics columnist Robert J. Samuelson points out that the situation in Greece is just an extreme case of what the American economy is up against.  (Our national debt is now 105% of our Gross Domestic Product.)  In fact, he says, that’s what a big number of the world’s nations are up against. [Read more...]

Greeks vote “No”

Greeks voted “no” on a referendum on whether they should let their economy get bailed out at the price of austerity measures.  Now we’ll see what this will do to the Greek economy, to the Euro, and to the European Union.   (Not to mention the rest of the world’s economy, including that of the U.S.A.)  The Greeks started what would become Europe.  Now they just might take it out. [Read more...]

The euro and the fall of Greece

The people of Greece will vote Sunday on a referendum on whether or not to accept the austerity measures that would accompany a bailout from the rest of the Eurozone.  The Greek government is recommending voting “no” and just letting the economy collapse.  Catherine Rampell explains how Greece–and Europe–got into this mess, making use of the predictions of the late free-market economist Milton Friedman, who is being proven right, as usual. [Read more...]