Critics of Austrian economics often claim that real economic events are too complex to be dealt with via free markets. However, because Austrian economics is based upon understanding human action, it better explains why economic intervention routinely fails.
Many “mainstream” economists are bothered by the popularity of economically-flawed policy proposals like tariffs and price controls. It’s their own fault.
California's 2014 ban on “single-use” plastic bags was supposed to lead to less waste of plastic, which hasn't happened. Now environmentalists are demanding the state ban the same plastic bags mandated by the original legislation. One intervention begets another and another.
What Murray Rothbard used to call the "Old Right" stood for liberty, freedom of speech, and a free economy. Most importantly, they stood for peace, all in contrast to the "liberals" of their day and ours.
There is an attack on the customer by its anti-market enemies.
What Murray Rothbard used to call the "Old Right" stood for liberty, freedom of speech, and a free economy. Most importantly, they stood for peace, all in contrast to the "liberals" of their day and ours.
California's 2014 ban on “single-use” plastic bags was supposed to lead to less waste of plastic, which hasn't happened. Now environmentalists are demanding the state ban the same plastic bags mandated by the original legislation. One intervention begets another and another.
The Mises Institute is creating lessons for young economists to better help them evaluate and interpret economic events. Of course, these lessons also apply to anyone else wanting to be better educated on economics.
While Bitcoin and other cryptocurrencies can boggle the mind with their complex relationships, nonetheless, we are witnessing the development of a parallel economy that has sprung up in the wake of harmful government intervention.
While we experience the predictable economic consequences of bad economic policies, the two main presidential candidates seem to be competing in an unspoken contest to demonstrate profound economic illiteracy. Unfortunately, whoever wins in this contest, we lose.
