When Hugo Chavez nationalized Venezuela’s oil industry and created a huge welfare state funded by declining oil revenues, he unleashed huge social problems that have reduced the nation to poverty. The Trump administration’s recent actions against Venezuela will make things much worse.

Most economists subscribe to a belief in “positive economics,” which means that economic theory flows from economic data. Thus, all theory can be tested for falsification at any time. Austrian economics, however, begins with economic theory, which is used to interpret the real world.

Each economic crisis brought on by loose money brings on a “solution” of...looser money. This pattern is not just a threat to the economy but to our very freedom itself.

The US is not the only country with a broken air traffic control system due to state control. India's system also is in a statist mess. The solution is to get government out of the business of ATC.