Richard M Salsman

Dr. Salsman is president of InterMarket Forecasting, Inc., an assistant professor of political economy at Duke University, a senior fellow at the American Institute for Economic Research, and a contributing editor for The Objective Standard. He is the author of numerous books, chapters and articles, including Breaking the Banks: Central Banking Problems and Free Banking Solutions (AIER, 1990), Gold and Liberty (AIER, 1995), and The Political Economy of Public Debt: Three Centuries of Theory and Evidence (Edward Elgar Publishing, 2017).

The Fallacy of “We”

The “we fallacy” is ubiquitous, especially among professors, politicians, policy wonks, and pundits. The fallacy of “we” is a form of the fallacy argumentum ad populum or “appeal to the people,” to “popular opinion.”

Supply-Side Panglossians are Not Objective

Capitalism (and economic analysis) requires reason, not faith, facts, not what feels good. The supply side is the right side, but the Pollyannas must cease their bias and at least try becoming more objective. They must defend the right policies, not merely those imposed by politicians they deem to be in the right because they are on the right.

Freedom Is Indivisible, Which Is Why All Types Are Now Eroding

The point of the principle of indivisibility is to remind us that the various freedoms rise or fall together, even if with various lags, even if some freedom, for a time, seems to be rising as others fall; in whatever direction the freedoms move, eventually they tend to dovetail.

The Economy Needs Not Keynes or Kudlow But a Ventilator

Today it’s no mystery why non-sober Keynesians like Paul Krugman might love the demand-side, anti-capitalist, Trump-Kudlow policy mix, or why Trump foes might eagerly insist that the economy remain closed, not to preserve the nation’s health but to dissipate its wealth (and the probability of Trump’s re-election). But why would Trump do this?  It seems politically suicidal.

Crisis, Leviathan, and the Odd Libertarian Sanction

Libertarians are right that the size, scope and power of government expand amid crises, but there’s no necessity to this, as they assume, and they have no remedy – even during crises – because they hate the state more than statism; but a new book takes a better approach.

Incarceration, Monetization, and Nationalization Can’t Preserve Our Health or Wealth

Evidence is mounting that the Wuhan China virus (“COVID-19”) won’t prove as deadly as first projected; yet there’s still a high level of hysteria and an ominous spread of deleterious economic and public health policies, amounting to incarceration (indiscriminate quarantines), monetization (redistribution of wealth), and nationalization (socialism/fascism). What’s needed instead – if health and wealth are desired – is deregulation, tax relief, and capitalism.

Judy Shelton: Golden Nominee for a Tarnished Fed

Judy Shelton is a high-class, high-quality economist, who should join the Fed not so much to burnish its image but to keep it at least a little bit honest and real. The Fed today doesn’t really deserve Shelton, but Shelton deserves a top place at the Fed.

Say’s Law versus Keynesian Economics

Say’s Law and Saysian economics go hand in hand with a political-economic-philosophical appreciation for capitalism – for rationality, the pursuit of self-interest, entrepreneurialism, profit-making, private property rights, the rule of law, and constitutionalism.

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