Traditionally, Austrian theorists have focused with particular interest on the recurrent cycles of boom and recession that affect our economies and on studying the relationship between these cycles and certain characteristic modifications to the structure of capital-goods stages. Without a doubt, the Austrian theory of economic cycles is one of the most significant and sophisticated analytical contributions of the Austrian School. Its members have managed to explain how credit-expansion processes lead to systematic investment errors that result in an unsustainable productive structure.

In February, money supply growth hit yet another all-time high. February’s surge in money-supply growth makes February the eleventh month in a row of remarkably high growth, and came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages.

For many months, the governments of the European Union have made it clear they view the distribution and administration of covid-19 vaccines as a public policy priority. Whatever one may think of the vaccines, the fact remains Europe’s regimes think they’re fantastic and want as many jabs in arms taking place as soon as possible.

Listen to the Audio Mises Wire version of this article.

The Violence Against Women Act (VAWA) embodies a political trend that cripples human rights in the guise of crusading for them. This trend is the balkanization, or fragmentation, of rights. Recently passed by the House, VAWA has moved to the Senate, where the trend it represents may well be translated into more law.

Jonathan Culbreath, posting on the American Conservative web page (March 24, 2021), urges his fellow conservatives to adopt a fashionable leftist bromide, modern monetary theory (MMT). Mr. Culbreath relies for his account of MMT on the popular book by Stephanie Kelton, The Deficit Myth, which I reviewed here.

In the previous installments of this series (part I, part II), I have argued that government default is not only ethical, it is also beneficial to the economy and society as a whole. The one question I left open at the end of part II was the possible consequences for financial markets and the monetary system in the case of a government default.

Several months ago, I debated Thaddeus Russell on The Tom Woods Show. The proposition debated was “Postmodern philosophy is compatible with a politics of individual liberty.” Thaddeus defended the proposition and I opposed it. Here, I want to flesh out some of the points I made in the debate, adding more context than I could marshal under the constraints of the format. For better or worse, this requires a somewhat deep dive into postmodern ideas.

After discussing the nature of the Fed’s annual audit in my previous article, I will now share the highlights of the 2020 audited financial statements. Starting with one, if not the largest, balance sheets on the planet: