Most people believe lending is associated with money. But there is more to lending. A lender lends savings to a borrower as opposed to “just money.” Let us explain.

Take a farmer, Joe, who has produced two kilograms of potatoes. For his own consumption, he requires one kilogram, and the rest he agrees to lend for one year to another farmer, Bob. The unconsumed kilogram of potatoes that he agrees to lend is his savings. 

In this week’s article, I’d like to discuss an aspect of Murray Rothbard’s criticism of Marxism that is often misunderstood. The topic is important not only for understanding the essay by Rothbard I’ll be discussing, “Karl Marx as Religious Eschatologist,” but also for grasping a useful style of conceptual analysis of which Rothbard’s essay is a fine example.

Rothbard argues in the essay that Marxism is a religious movement that centers on the violent arrival of a heaven on earth.

It was hoped at the outset that high-level meetings this week between Washington and Beijing might go some way toward bringing the crisis in Ukraine to an end.

Few people today ask the most important question about the conflict between Russia and Ukraine. Many people want America to stay out of the fight, but even they don’t ask the vital question. Why does the world face a crisis today? Why has a border dispute between Russia and Ukraine escalated to the point where people fear nuclear war?

A new edition of Political Ponerology, by Andrew M.

There is an active, influential, and well-paid minority of pundits and politicians in America who apparently believe that escalating conflict between nuclear powers—and even nuclear war itself—is not really that big a deal. 

These, of course, are the sorts of people who fancy themselves “the adults in the room,” while people who proceed with prudence, caution, and regard for the rule of law are to be regarded as traitors, cowards, or Russian agents. 

The US government’s Consumer Price Index indicates prices have increased 7.9 percent in the last year. While this statistic shows the highest rate of increase in forty years, it still understates the amount prices have increased, in part because the statistic is manipulated to minimize reported price increases.

It is becoming increasingly apparent that isolating Russia and totally cutting it off from the global economy is not going to be easy.