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The Pilgrims tried socialism at Plymouth. After two years, they returned to private enterprise. Likewise, Israel was founded as a socialist state but has back turned toward free markets.

The woes of Britain's financial sector have been exacerbated by UK financial regulators' failures.

Ending the string of economic crises that have occurred the past two decades will happen only when economies can depend upon sound money.

Federal Reserve officials, for all of their alleged wisdom and education, have a knowledge problem. Hayek and other Austrians could have told them their grandiose plans will fail.

For all the positive talk, Americans are piling on more debt just as real wages are falling, job losses are mounting, and debt costs are rising. Thanks, Fed! 

A serious political discussion at the federal level would center on structural problems of war and peace, debt and the dollar, and entitlements. But America in 2022 is a deeply unserious country.

All too often, elite mainstream economists' policy recommendations are built on fallacies. We shouldn't listen.

Europe is in crisis, thanks to its progressive leadership. Václav Klaus, former president of the Czech Republic, points out the problems and offers a remedy: free markets.

All of the excess of unproductive debt issued during the period of complacency will exacerbate the problem in 2023 and 2024.