It is amazing to me that President Trump has pardoned some people whom he considered heroic while continuing to leave Julian Assange and Edward Snowden, two genuine heroes, in the lurch. Assange, of course, is getting the worst of it, given the brutal conditions under which US and British officials have incarcerated him in England. But it still can’t be a bundle of joy for Snowden to be living in Russia, given the societal jail-like environment that comes with living under the Russian regime.

The action axiom can be stated as follows (Cf. Rothbard [1962, 1970] 2004, pp. 1–2, 7–8, 19–20; Rothbard, 2011, pp. 113, 290; Mises, [1949] 1998, pp. 14–16): “Human beings engage in purposive behavior—i.e., they choose which scarce means are to be more fruitfully (or economically, or rationally) employed in order to satisfy their most preferred ends.

A common conception is that the central bank is a key factor in the determination of interest rates. In this way of thinking, the key role of the central bank is to make sure that the so-called economy is placed on a trajectory of stable economic growth and stable inflation. If for whatever reason the economy appears to deviate from the specified trajectory, then it is the responsibility of central bank policy to ensure the economy remains on this path. This is attained, so it is held, by means of influencing the short-term interest rate, in the US the federal funds rate.

Federalism, which Felix Morley called “the distinctively American contribution to political art,” arose from our founders’ desire to limit government’s ability to harm its citizens.

The Constitution restricted nondelegated powers to states and individuals in their private arrangements, empowering citizens by allowing easier escape from abusive government by “voting with their feet” for jurisdictions with less hostile governance. That set a tighter limit on government ability to impose burdens that outweighed benefits.

The Washington Post is outraged that Donald Trump has sullied one of Washington’s most hallowed honors—Presidential Medals of Freedom.

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A fifth of all US dollars ever created are just under one year old. In about the same time, bitcoin has quadrupled in value. Currency competition is here, but the blessing for consumers is seen as a serious threat by the oligarchical elite.

Just as our country is reaching a cultural and political crossroads, so too is there an economic rubicon to be crossed. Beyond any other social issue, however, Americans must take a greater interest in their money.