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The World at War

by Ralph Raico 
edited by Edward Fuller

Time preference refers to the preference of satisfaction in the present as compared to a future time. A person who heavily prefers current consumption to future consumption has a high time preference as he places a heavy premium upon satisfaction as soon as possible. By contrast, a person who does not place a heavy premium upon instant satisfaction has a low time preference.

America Last: The Right’s Century-Long Romance with Foreign Dictators
by Jacob Heilbrunn
Liveright, 2024; 249 pp.

Mainstream economists believe our knowledge of the world of economics is elusive, so the criteria for choosing a theory should be its predictive power. If the theory “predicts,” it is regarded as a valid framework to assess the economy. Once a theory fails in that role, the search for a new theory begins.

The western media are, above all, phraseologists. Managing massive vertically integrated “states” requires the controlled and targeted use of repetitive government approved language, propaganda, jingoism, repeated phrases to channel thought and energy.

We’ve seen a lot of “performative” progressivism in recent years – Black Lives Matter and reparations from the Civil War, incessant genderology above the fold, Trump Derangement Syndrome, tomato soup weilding environmental activism, and DEI departments in every company, corporate board, and investment portfolio.

(Frankfort, Kentucky) -- In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature has deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law.

This action makes the Bluegrass State the 45th state in the nation to enact this sound money policy – and the second this year.

Javier Milei’s administration is generating much deserved commentary, both positive and negative. Critical discussion is vital since he is the first libertarian president, so keeping a distance between libertarianism itself and his government actions is a must if libertarians don’t want to fall with him should his government plans fail.

On April I, Israel launched an attack on an annex to the Iranian embassy in Damascus. The attack killed a leading Iranian general. In retaliation, Iran launched a missile attack on Israel the following Saturday night, going into Sunday morning. Although the US and Israel shot down most of the missiles, there is reason to think that the attack did more damage than has been reported in the mainstream press. If Israel answers back with another attack, especially a nuclear attack, this could lead to a thermonuclear war that could destroy the world.