Brexit has caused some turbulent political times in Westminster, but the hole left by the UK in Brussels will be felt throughout the continent.

[Originally  published in Volume 5, No. 1 (Spring 2002) of the Quarterly Journal of Austrian Economics.]

2020 Democratic Presidential Candidate Andrew Yang has been making the rounds on talk shows and popular podcasts like the Joe Rogan Experience over the past month. The key platform of his candidacy is what his team has branded “The Freedom Dividend.” This promise of a $1,000/month government payout for every American adult over the age of 18 is nothing more than a rebranding of what is commonly known as the Universal Basic Income (UBI).

Could historical data by itself serve as the basis for the factual assessments of the world of economics? It is believed that through the application of statistical methods on historical data, or just by gazing at the data, one could extract the facts of reality regarding the world of economics. But in order to really make sense of the data one must have a theory, which stands on its own feet, and did not originate from the data. By means of a theory, one could scrutinize the data and could then try to make sense out of it.

Welfare programs are a cornerstone of an interventionist state, which, despite its demonstrable failures, is rising in popularity, especially among millennials. However, socialism’s adherents are largely unaware of the negative effects of the ideology they so enthusiastically embrace.

Donald Trump found himself in hot water last month with critics and supporters alike. His new spending bill didn’t sit well with fiscally concerned Republicans, who watched as our annual deficit topped $1 trillion. Meanwhile, his more border-hawkish supporters were disappointed to see only $1.3 billion set aside in funding for the border wall.

In the United States, the newest model of any cell phone is usually going to be sold as faster and smaller. Even as large-screen phones have gained popularity, they depend on being thin and light to attract customers. Bulky phones don’t fit well in the back pocket of skinny jeans, and they aren’t as fun to hold while mindlessly scrolling through Facebook.

About a decade ago, I first met Louis Carabini when he sponsored a Mises Circle event in Newport Beach, California. At that event, I picked up a copy of his small book, Inclined to Liberty. Not long afterward, I had read it, been impressed with its insight and Mr. Carabini’s ability to turn a phrase, and had even done a bit of a teaser article to encourage others to read it.