[Editor’s Note: This following article is an adaptation of the introduction to Libertarian Literary and Media Criticism: Essays in Memory of Paul A. Cantor, Edited by Jo Ann Cavallo (London: Palgrave Macmillan, 2025. Paul Cantor was (1945-2022) was a student of Ludwig von Mises and an important contributor to mises.org on topics of the intersection between markets and culture.]
The word “austerity” is defined as sternness or severity of manner or attitude; extreme plainness and simplicity of style or appearance; conditions characterized by severity, sternness, or asceticism; or a way of life that limits luxuries. Austerity is also defined as a set of policies that reduce government spending and increase taxes. These policies can include “austerity measures,” often used during economic crises, including cutting government salaries, social programs, foreign aid, and safety net expenditures.
In recent weeks, there has been a sharp increase in violent attacks aimed at destroying cars and other property carrying the logo of Elon Musk’s electric car company, Tesla.
This morning the President of Princeton University, Christopher Eisgruber, published his defense of Federal funding for research universities in The Atlantic: The Cost of the Government’s attack on Colombia. What are his arguments?
Donald Trump published the following on “Truth Social” about the heroic Congressman Tom Massie, in response to Massie’s voting against Trump’s budget proposal: “Thank you to the House Freedom Caucus for just delivering a big blow to the Radical Left Democrats and their desire to raise Taxes and SHUT OUR COUNTRY DOWN! They hate America and all it stands for. That’s why they allowed MILLIONS of Criminals to invade our Nation. Sometimes it takes great courage to do the right thing.
You wake up tomorrow, finding that in a vote you never thought possible, Ben Bernanke (D), former Chair of the Federal Reserve, has just been installed as President of the United States. Making matters worse, the election in 37 days will secure his position, possibly for the next five years. The other wrinkle, New York City, in addition to all swing states, needs to vote Republican in order to remove him.
…That’s basically what elections are like in Canada…
The consensus narrative tells you that markets are weak because of Trump’s tariffs. However, that is a typical excuse that makes no sense. If tariffs were the cause of concern, markets would have tanked in 2016 and in 2021. Remember that Biden maintained and increased all of Trump’s tariffs. Between 2016 and 2024, the tariffs imposed by the European Union and China on the United States were much larger than levies against them. However, you never read or heard that the EU and China tariffs were going to destroy the economy or lead to massive inflation.
During the lifespan of the Estado Novo, propagandists endorsed Salazar as a financial wizard that magically saved Portugal from the clutches of Jacobin democrats who ran the economy amok with repeated bombing campaigns and political disorder. Praised for his prudence and sagacity, hailed as savior of the nation, even classical liberals like Ludwig Erhard sang ringing tunes for the man from Santa Comba Dao.
The politics of the Fourteenth Amendment recently returned to global attention when Colorado attempted to remove President Donald Trump’s name from their presidential election ballot, an attempt that was thwarted by the United States Supreme Court ruling that “Colorado cannot enforce section 3” of the Fourteenth Amendment as states lack power to do so.
