Modern historians romanticize the reign of the Tudors in England, but in reality, they were brutal to their subjects and they centralized power to the detriment of the people. Governments today continue this march against freedom.
Critics of Austrian economics often claim that real economic events are too complex to be dealt with via free markets. However, because Austrian economics is based upon understanding human action, it better explains why economic intervention routinely fails.
Tuesday night’s Vice-Presidential Debate was remarkable not for what was said (which was forgettable), but for what was not asked: What should be the proper role of government in what purports to be a free society? Neither candidates nor the moderators were interested in that question.
Einstein's name is synonymous with brilliance, yet his great intelligence did not translate to logical economic thinking. Instead, Einstein embraced socialism, thinking that one could guide an economy like one guides a mathematical equation.
Donald Trump and Elon Musk want to make the federal government more efficient. But if the true aim of our political system is not to solve the problems facing Americans but to transfer wealth to the government and the politically-connected, the government is already very efficient.
The so-called great minds in economics and finance claim that gold is a “barbarous relic” or a “shiny,” worthless rock. Gold is neither. Despite the steady attacks on its integrity, gold remains a good place to put one's money.
Central to the paradigm of Austrian Economics is the action axiom. People act, and they act purposefully. That knowledge alone permits us to construct an entire set of theories that explains economic life.
Western governments are keen on pursuing “hate crimes” and criminalizing what it calls “hate symbols.” However, these governments reserve to themselves just how one defines “hate,” which is nothing more than an attack upon free speech.
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What if we could have eavesdropped on a conversation between Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen? It might have gone as follows....
