According to the Austrian Business Cycle Theory (ABCT), the artificial increase in the money supply via central bank expansionary monetary policy lowers the market interest rate. This, in turn, causes the market interest rate to deviate from the natural rate, determined by the market. Consequently, this leads to the boom-bust cycle. Understanding this, on the gold standard, where money is gold and—assuming that there is no central bank—an increase in the supply of gold will also result in the lowering of the market interest rates.

One of the most destructive fallacies of critical race theory is its insistence that racial disparities are caused by discrimination. The CRT premise is that any gap in racial attainment calls for an explanation, and—in the absence of any convincing explanation—they are compelled to conclude that such gaps are caused by discrimination.

The identity of a people often shapes the nature and trajectory of their government. In England, a deep-rooted belief in individual liberty has profoundly influenced the nation’s legal and cultural institutions, shaping English society from the early Middle Ages through the Industrial Revolution. This identity—forged through centuries of struggle and self-definition—established a legacy of individual rights, due process, and a balanced approach to law and order.

Commercial real estate continues to suffer despite the Federal Reserve’s attempt at ameliorating the capital markets with a 50-basis point rate cut in September.

War and Individual Rights by Kai Draper; Oxford University Press, 2016, xii + 254 pp.

Before anyone gets their hopes up about a reduction in government expenditures resulting from the upcoming Department of Government Efficiency (DOGE), remember that, once rolling, a log rolls in one direction—downhill—until stopped. But have any of us ever tried stopping a log as it accelerates down a hill?

Henry Hazlitt said that to cure inflation, stop inflating, but surprisingly, most economists and politicians don’t want a cure.