“People think about evolution as progress. Evolution’s not progress. Evolution is fitness within an environment. And it actually breeds its own fragility, right? If I’m a finch who happens to inhabit the Galapagos Islands and nobody has a beak that’s seven inches long that can reach into a particular pine cone, then I can grow a beak that is first 1 ½”, then 2”, then 3”, and eventually it’s 7”; it provides a huge advantage. But if that environment changes, a 7” beak becomes an extraordinary disadvantage and I go extinct almost immediately.”—Michael Green, Simplify A

In many emerging and tropical economies, the Austrian business cycle does not appear as a temporary deviation from equilibrium, it becomes a permanent condition. Chronic fiscal deficits, unstable legal frameworks, and recurring monetary expansion are not exceptional responses to extraordinary crises, they are structural features of the political order itself. As a result, the familiar cycle of artificial boom, malinvestment, and correction never fully resolves; it merely reshapes itself, extending its distortions across time.

In his book The Essential Rothbard, David Gordon observes that, “Rothbard was no ivory-tower scholar, interested only in academic controversies.

With all eyes on the winter storm raging through America last month, a silent hero was working in the background to keep the lights on. And I don’t primarily mean the emergency workers or the teams of electricians, foresters, and engineers that keep the power lines up and ice-free; these guys operate very much in the foreground, the public well aware of their critical work.

Argentina’s recent drop in monthly inflation below two percent has drawn cautious praise from many mainstream economists, who focus on the immediate success of President Javier Milei’s anti-inflation campaign. Yet, as we saw in the aftermath of his interview in Davos, many of those same analysts still question the cost of his “austerity,” the supposed risks of removing currency controls, or his refusal to monetize debt.

“Her announcement follows the release of documents detailing her often chummy conversations with notorious sex offender Jeffrey Epstein.”  She had long claimed to barely know Epstein. 

“Ring’s decision to cancel its partnership with Flock comes as tech companies face growing pressure to reexamine their work with federal agencies.”

Warsh wouldn’t be offered the job if he were a departure from the usual model of Fed chairs. He’ll inflate plenty, especially when recession hits. 

[The End of Value-Free Economics edited by Hilary Putnam and Vivian Walsh (Routledge, 2012; ix + 229 pp.)]