Durable, transportable, and divisible—in other words, salable across time, space, and scales. Austrian economics recognizes these as core properties of sound money. However, beyond the marvelous social phenomena that is sound money, these properties can be relevant in describing another of humanity’s great marvels: cheese.

In “Government by Judiciary: The Transformation of the Fourteenth Amendment” Raoul Berger argues that the Fourteenth Amendment is treated by activist judges as a platform for “social and political revolution.” In theory, the role of the courts is to interpret the Constitution not to amend it. Nevertheless, by treating the Fourteenth Amendment as a “vague and elastic” tool designed to forge a brave world of racial equality, progressive judges have conferred revolutionary powers on themselves.

“Frank’s death was a real personal blow to me,” Murray Rothbard confessed in 1973. Frank Meyer and Rothbard debated at the Harvard University Institute of Politics in 1971. Less than a year later, Meyer was dead at 62. 

According to much popular mainstream economic thinking, the policy of so-called “price stability” does not always mean that the central bank must fight inflation. It is also the role of the central bank to prevent large declines in the inflation rate or an outright decline in general “price level.” Why is that so?

On September 29, 1881, Ludwig von Mises was born in Lemberg, then part of the Austro‑Hungarian Empire. He would become one of the twentieth century’s most important economists and the acknowledged leader of the Austrian School.