Although Meyer Frank was a National Review colleague of William F. Buckley, who loathed Murray Rothbard, Frank admired Rothbard and the two men often agreed on the current state of affairs. That is how Dr. David Gordon remembers him in today‘s Friday Philosophy.

Bolivians are finding out the hard way that socialist energy means price controls, and price controls mean fuel shortages and long gas station lines. Socialism excels in unkept promises and Bolivia is no exception to that rule.

Unfortunately, central bankers can‘t wave a magic wand and make price inflation disappear while the same central bankers also push easy money to force down interest rates.

America inherited the core institutional framework of Europe (especially Britain) but refined and amplified it through greater decentralization, lower taxation, and more expansive freedoms.