For decades, the Democrats and establishment Republicans have advocated for continuously expanding the role of the federal government, especially the authority of the “experts” in the executive agencies. The bargain suited these congressmen focused on retaining power: they passed vague laws, let agencies interpret them broadly under the White House’s direction, and shifted blame to the administration when public dissatisfaction grew.
President Trump caused a considerable stir in Washington when he fired Commissioner of Labor Statistics Erika McEntarfer back on August 1. The firing came in the wake of a weak jobs report for July, which Trump believes was inaccurate. “We need accurate Jobs Numbers,” he wrote on Truth Social in response to the report.
Artificial intelligence dominates the headlines with equal measures of fascination and dread. Visionaries proclaim it will unlock human potential, while skeptics warn it will eliminate jobs, destabilize society, and force governments to provide sweeping handouts. Some believe it heralds a “post‑work” society in which billions are displaced. But fears that AI will “end the economy” are rooted, not in economics, but in misunderstanding basic Austrian principles. Technology changes how we arrange our resources—it does not abolish scarcity, value, or entrepreneurship.
Many people were shocked to see the identitarian left erupting in ghoulish celebration when news broke that Charlie Kirk had been assassinated.
By now, it’s a very well known historical narrative: during the Middle Ages, kings were all powerful over their subjects. They ruled with a divine right, and therefore could raise taxes at will. After all, as God’s chosen rulers on earth, who would contradict them? Certainly not the king’s subject who, with the help of the Church, were all utterly cowed by the idea that to disobey the king was to risk eternal damnation.
Say’s Law of Markets advances the self-evident truth that supply and demand are two sides of the same coin, meaning one can view economic output as supply as well as demand. Demand is measured by what producers produce. Supply is measured by what producers produce.
In a state of nature, one’s own economic demand is dependent on and measured by one’s production. Survival requires people to work to that end. As civilization emerged, producers began trading with one another, exchanging something they had for something they wanted.
[Originally published by the Institutional Risk Analyst.]
