[This article is excerpted from chapter 14 of Human Action.]

[Excerpted from chapter 12 of Human Action.]

[This article is excerpted from chapter 12 of Human Action]

Economic calculation cannot comprehend things which are not sold and bought against money.

[From Power and Market, chapter 3.]

Over 90 percent of Virginia’s counties have claimed “Second Amendment sanctuary” status since the November 5 election that gave Democrats control of Richmond for the first time in decades. But their rhetoric doesn’t match reality. The resolutions are symbolic and have no legal force.

The wave of sanctuary resolutions comes in response to state lawmakers, who along with Governor Ralph Northam (D), have promised Virginians a number of strict gun control measures in the 2020 legislative session.

The SPDR S&P Homebuilders ETF closed the other day at 45.65, poking higher than February 2006’s 44.70. The conventional wisdom is:

The European Commission has unveiled its “European Green Deal,” after taking hints on denomination from its American counterpart, the “Green New Deal.”  While the legislation introduced in the US Congress remains fiction under a Republican executive and senate, the Brussels initiative will become law unless there is considerable opposition from EU member states.

The global economy is heading towards a “liquidity trap” that could undermine central banks’ efforts to avoid a future recession according to Mark Carney, governor of the Bank of England. In a wide-ranging interview with the Financial Times (January 8, 2020), the outgoing governor warned that central banks were running out of ammunition to combat a downturn:

If there were to be a deeper downturn, more than a conventional recession, then it’s not clear that monetary policy would have sufficient space.

Faculty, Associated Scholars, and More

• Mises Institute Senior Fellow Hans-Hermann Hoppe received the Roland Baader Award at the Palais Coburg in Vienna, Austria, at an event commemorating the 70th anniversary of the publication of Mises’s Human Action.
• Patrick Newman received the George F.

Last week I discussed a new argument against paternalism in the important book of Mario Rizzo and Glen Whitman, Escaping Paternalism. Today I’d like to give the other side a chance.