Kamala Harris has suggested that, if elected, her administration would “pass the first ever federal ban on price gouging on food.” She has also stated that she would undertake several interventions into the healthcare industry, including a promise to “cap the cost of insulin at $35 for all Americans.”

The philosopher Thomas Nagel can always be relied on for thought-provoking arguments, and in what follows, I’m going to discuss several that are relevant to libertarianism. These arguments are to be found in Nagel’s book Equality and Partiality (Oxford, 1991).

Richard Duncan recently appeared on the podcast Wealth Formula to discuss the Austrian School of economics. Despite being only 42 minutes long, the episode is packed full of errors and fallacies. 

Austrian Business Cycle Theory tells us that recessions are an indication an economy is healing. Booms created by government printing presses and fiscal interventions will be cleansed by downward reset of asset prices and labor misappropriation will be righted by rising unemployment. Murray Rothbard wrote in America’s Great Depression, “The adjustment process consists in rapid liquidation of the wasteful investments.