Booms and Busts

The boom-bust cycle is not a mystery. Understanding why requires grappling honestly with what the last fifty years produced.

A $2.3 trillion contraction met with a $2.5 trillion injection.

Mises described the problem, Hayek proposed the direction, Kirzner explains why the market will not stop. And the market, as so many times before, has already found the first step.

Mises described the problem, Hayek proposed the direction, Kirzner explains why the market will not stop. And the market, as so many times before, has already found the first step.

People claim to support economic intervention because the market cannot be trusted to be “stable” enough to keep the economy out of recessions. However, it is government itself, not the free market, which creates the instability in the first place.

International aid agencies are providing goats for families in Malawi as a way to fight poverty. Like so many other do-good experiments, this one has numerous unintended consequences.

On the Daniela Cambone Show, Mark Thornton explains why central banks are dumping Treasuries for gold, why US debt is hitting a point of no return, and why silver could move even faster.

In 2011, Paul Krugman infamously declared that the US could revitalize its slow economy if it were to prepare for an invasion of space aliens. Would the real presence of aliens, however, touch off an economic crisis?

While elites tell us we need to fear artificial intelligence, they continue to approve of the Federal Reserve’s attempts to expand artificial credit, which is the real threat to our economic well-being.

AI is not the killer—it is the coroner.