On March 2, 1966, Murray N. Rothbard, the founder and twenty-year editor of the Journal of Libertarian Studies, would have celebrated his seventieth birthday. This issue of the JLS, as well as a simultaneously appearing special issue of its sister publication, the Review of Austrian Economics, likewise founded and edited by Rothbard, is a Festschrift in his honor.
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The University of Michigan consumer confidence index fell to 82.8 in May, from 88.3 in April. More importantly, the current conditions index slumped to 90.8, from 97.2 and the expectations index declined to 77.6, from 82.7.
This past March, Dr. Anthony Fauci sparred with Dr. Rand Paul over any public health benefit that came from wearing a mask if one had developed immunity to the virus. In dealing with both a democratically elected senator and a medical doctor, Dr. Fauci was dismissive and condescending. He demonstrated the degree to which he held himself higher than the Senate.
Dr. Fauci was also wrong.
A medical expert in Dr. Fauci’s position losing a debate on the science to an ophthalmologist—even one of Dr. Paul’s great reputation—would itself be enough to declare them a fraud.
April’s 4.2 percent past year increase in the Consumer Price Index is not likely to dissuade the Federal Reserve from continuing its policy of near-zero interest rates. Fed Chairman Jerome Powell believes the rising prices are just a temporary phenomenon caused by the ending of lockdowns releasing pent-up consumer demand.
[Chapter 19 of Rothbard’s newly edited and released Conceived in Liberty, vol. 5, The New Republic: 1784–1791.]
The 2020 recession, which many countries are still going through, now has an “official” name: the Great Lockdown. In economic terms, the public sector’s response in practically all countries has been very swift and bold (which is not necessarily a good thing).1 This has caused the global public debt to skyrocket as never before.
