A few years ago, I bought a unique item. When I first became aware of it, I was intrigued and interested, but the price was $50 more than I was willing to pay ($450 versus $400). Wanting it, at my price or less, I kept watch over various websites looking for a sale price that matched my price point. After a number of months searching, I found a site that offered the item for $390 and I bought it.
In the history of the social sciences, no other field of study has attracted so great a level of hostility as the science of economics. Since the inception of the science, the onslaught against it has been on the rise, extending across individuals and groups. And the outlook for a favorable reception of the science is bleak, given that a significant number of people are incapable of following through the extended chains of reasoning required for comprehending economic arguments.
I recently joined Lena Petrova on her World Affairs in Context podcast to talk about the Fed, Jerome Powell’s politics, and the state of the US economy.
Does the Federal Reserve want independence to serve the interests of the banker class? What role has the Federal Reserve played in US politics, and how does it enable the US government’s out-of-control spending? Why should the Fed be banned from purchasing assets?
We cover all of this and more:
The insane neo-Keynesian policies implemented by the Biden-Harris administration have created persistent inflation and record levels of debt with two objectives: to bloat Gross Domestic Product and jobs with public spending and government jobs.
Present-day Austrian economics suffers from a significant and rather interesting problem: a lack of critics. What I mean by this is not that there are not enough trolls, hecklers, and politically-motivated anti-economists. No, I mean that there are very few, if any, real and knowledgeable critics of Austrian economic theory.
