Names like Menger, Böhm-Bawerk, Wieser, Hayek, and Rothbard are well-known to adherents of the Austrian school of economics. Emil Kauder isn't one of those names, but Murray Rothbard brings his contributions to Austrian thinking to light.
The state of the economy is not good. Powell knows it. Yellen knows it. Most people in the real world know it.
Neoclassical economists have a rigid view of monopoly producers. Austrians recognize that the only monopolies that create problems have been nurtured by government intervention.
As political divisions worsen in the United States, one remedy besides secession might be to create semiautonomous regional territories.
Powell said that moving forward "we think it's time to just go to a meeting by meeting basis." Translation: "Things might go even more off the rails at any time, so let’s just play it by ear."
Forget Biden's claim that his government is "fighting inflation." His government is creating inflation, and in so doing robbing people of their savings and earnings.
With inflation making workers poorer, and with midterm elections looming, Janet Yellen is doing damage control by arguing over the definition of "recession."
When Paul Volcker was Fed chairman forty years ago, he did what was necessary to bring down inflation. Unfortunately, the current Fed leadership at best is engaging in Volcker Lite.
It’s impossible to simply declare nationalism itself to be good or bad. Its goodness or badness depends primarily on its effect on existing regimes and state institutions.
Keynesians believe that if government spends more, it creates wealth in the process because it is "creating demand." But only wealth generation can create demand for goods.
