In Human Action, Ludwig von Mises highlights the importance of human cooperation as a prerequisite for the division of labor and free exchange. Without this, humanity remains mired in poverty:

Professor Richard Murphy is a public supporter of Keynesian fallacies and MMT. He recently provided a glimpse into this increasingly popular perspective by alleging that the Bank of England is deliberately crashing the economy by reducing its Asset Purchase Facility (APF).

In a recent Springer publication, Marcos Falcone proposed “Bringing the Austrian School into the 21st century” by embracing existing international institutions as a means of maximizing global liberty.

It was not long ago when signs for “Help Wanted” seemed to be in every store window. That is starting to be replaced in 2024 and 2025 with “Store Closing” signs. This switcheroo tells us volumes about how people and the economy are adjusting to the Fed’s money printing business. While the government and the wealthy elite benefit from the money printing, consumers and workers only seem to suffer.

[The Tariff Superstition: Why Protectionism Always Fails and Who Really Pays the Price by Marcel Kadosa. Translated by Bálint Téborski.

Murray Rothbard was the chief architect of modern anarcho-capitalism, an uncompromising vision of a stateless society rooted in private property and voluntary association. He built upon classical liberal thought, particularly the ideas of John Locke and the individualist anarchism of 19th-century thinkers like Lysander Spooner and Benjamin Tucker. However, unlike his predecessors, Murray fused these ideas with the Austrian School of economics, providing a rigorous theoretical foundation for the abolition of the state.

President Trump’s argument for starting an international trade war is based on a socialistic-sounding plea for “fairness” and equality. Some foreign governments plunder their citizens with high tariff taxes on American imports, thereby forcing them to pay higher prices for those or competing domestic goods. The reason they are called “protective” tariffs is that they “protect” consumers from lower prices. When your foreign competitor is forced to pay a 50 percent tax on his products and you do not, you can increase your price by say, 40 percent and still underprice him.

Trumps claims that America has lost high paying manufacturing jobs to China because the communist country promotes its exports through subsidies, tax advantages and currency manipulations. The reality is that we should not care what China does. The more China subsidizes its industries, the more its trading partners gain in the abundance of cheap goods and services and, contrary to what Trump believes, in the creation of high-paying jobs. In an exchange economy, there is a natural antagonism between producers and consumers. Producers benefit from scarcity, consumers from abundance.