At the urging of the United States, Germany and other European governments have levied sanctions against Russia. In reality, these governments have levied sanctions against themselves and their citizens.
An enduring progressive myth is that thanks to Western technologies and compassionate NGOs, American agricultural scientists saved the developing world via the Green Revolution. Not surprisingly, the truth is found elsewhere.
While people from poor countries seek to live in places like the USA because of its stable institutions and welfare state, could migration of people from stable countries to less-developed ones make those countries better off?
Because government is predatory, it may seem ironic then to use the political system as a means of protecting one's own property, family, and loved ones. But there are times when such a strategy makes sense.
Post-Keynesians believe that capitalism is internally unstable, leading to necessary intervention by the central bank. Austrians see that as backward reasoning, as policies by the central bank to create credit from nothing is the problem.
One doubts that the so-called Inflation Reduction Act will reduce inflation. However, it will wreak havoc on the US economy with its lethal mix of taxes, regulations, subsidies, and outright crony capitalism.