Mainstream economists are at a loss to explain why the current regime of inflation and central bank interventions have been so economically devastating. Understanding Cantillon effects is vital to making sense of the current madness.
Inflation does more than just force up prices. It destroys the wealth-producing process, especially with young people who are prevented from acquiring the same kinds of assets earlier generations procured. The result is inter-generational conflict.
Through the most bloody war in American history to date, Lincoln unleashed an inchoate “secret constitution” that began to bring the US into closer alignment with equality and democracy, which many view as a good thing.
In the new Ken Burns documentary, an old myth—held by the left and right—is repeated: that chaos led to the need for the Constitution and a stronger national government.
Americans like to think of themselves as peace-loving people. However, our nation’s war record since the American Civil War points to the US government’s affinity for unleashing total war.
David Beito’s new biography on Franklin D. Roosevelt is not the hagiographic nonsense that has dominated the US history profession. That is a good thing. Americans should know how FDR’s presidency led to one disaster after another.
Libertarianism and free markets depend upon peace. Murray Rothbard believed that war destroys freedom and free exchange, so keeping the peace is vitally important.
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As Congress scrambles to extend emergency subsidies to keep Obamacare afloat, it can be tempting to view the bill that made healthcare less affordable as a total failure. But that wasn’t the true purpose of the ACA. It was always meant to prop up the faltering crony healthcare system.
Elon Musk recently claimed that artificial intelligence will make money itself obsolete. He needs to read the literature of Austrian economics.
