Supply, demand, and prices affect human usage of natural resources in such a way that the most scarce and valued resources are economized and preserved. The practical effect is that valuable resources never really run out.
There is no evidence that Iran is likely to capitulate to American demands. The historical record demonstrates that great powers can inflict enormous punishment on their adversaries and yet the pain rarely causes target states to surrender.
The Left is on the march. Everything is at stake.
In response to tight housing markets, the Berlin government has decided to make things worse through price controls and new regulations on housing construction.
Government manipulation is shifting wealth from Main Street to Wall Street. But most people don't see the growing gap between the growth of financial wealth and the real economy.
Unlike the Versailles peace, which failed horribly, the successful episodes of peacemaking — Westphalia, Vienna, and even the process that ended World War II — had in common extended multi-lateral negotiations and compromise.
Like his mentor Murray Rothbard, Justin Raimondo was an enemy of the state; and like Rothbard, he was magnificent in his scornful laugh directed at the Leviathan state.
Given that Fed policymakers are of the view that a decline in the annual growth of prices is bad for the economy they are most likely to embark on very easy monetary policy in near future.
There is a field where Austrians are being heard and where Austrian theory is tremendously influential, and that field is dynamic entrepreneurial capitalism.
If one is concerned about Briarwood’s new private police force, one also ought to be hysterical over pretty much any police force in the United States. But the state seems to get a pass in areas where non-state entities are treated with suspicion.
