For the Pentagon, happy days are here again (if they ever left). With a budget totaling more than $1.4 trillion for the next two years, the department is riding high, even as it attempts to set the stage for yet more spending increases in the years to come.

Quarterly Journal of Austrian Economics 22, no. 2 (Summer 2019) full issue.

ABSTRACT: This paper examines John Maynard Keynes’s ethical theory and how it relates to his politico-economic thought. Keynes’s ethical theory represents an attack on all general rules. Since capitalism is a rule-based social system, Keynes’s ethical theory is incompatible with capitalism. And since socialism rejects the general rules of private property, the Keynesian ethical theory is consistent with socialism.

Why do prisoners join prison gangs? The answer lies in the fact that, like everyone else, prisoners respond to changes in costs and benefits. If a course of action becomes relatively more costly, people will do less of it — ceteris paribus — and vice versa. Subjective preferences help people decide how to weigh costs and benefits, and these cannot be ignored when looking at peoples’ decisions. It is not helpful to ignore inmates preferences just because we do not share them, and because we are not in a similar situation.

Quarterly Journal of Austrian Economics 22, no. 2 (Summer 2019) full issue.

ABSTRACT: This Ludwig von Mises Memorial Lecture, sponsored by Yousif Almoayyed, was given at the Austrian Economics Research Conference at the Mises Institute on March 22, 2019.

You don’t need to be a supporter of President Trump to be concerned about the efforts to remove him from office. Last week House Speaker Nancy Pelosi announced impeachment proceedings against the President over a phone call made to the President of Ukraine.

Quarterly Journal of Austrian Economics 22, no. 2 (Summer 2019) full issue.

ABSTRACT: This Lou Church Memorial Lecture given at the AERC in March 2019 focuses on the outcomes of the Enlightenment: reason, the individual, equality, property rights, the separation of church and state, science and politics freed from religious dogma; but also the effort to remove important mediating institutions such as the Church. What is required to be reintroduced that the Enlightenment destroyed?