While Joseph Schumpeter and the Austrian School often find themselves at odds over fundamental questions in economic theory—particularly over value theory, capital, and the role of entrepreneurship—it would be a mistake to overlook the significant common ground they share when it comes to their diagnosis of the state and its dangerous proclivity to grow.

“The Constitution has much to say to us regarding foreign policy, if we will only listen. For over half a century the two major parties have done their best to ignore what it has to say.”—Ron Paul

In all the recent discussion regarding USAID, it is good to look to some prescient wisdom from the past, to key development economists who have shaped the field and have been proven right so often because of their insightful analysis. In discussing foreign aid and development economics, it would be impossible (or negligent) to avoid the work of P.T. Bauer.

Lately, James Lindsay has burned much of his credibility in attacking largely non-interventionist right-wingers as “Woke Right.” 

On Friday morning, President Trump proclaimed on his Truth Social: “We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!” Trump is being hailed as a hero for demanding that the IRS bring Harvard University to its knees.

Considered centrist (by modern standards), not outspoken on political issues. Born American, but has been a Peruvian bishop for the past 11 years and is deeply connected to Latin America.

On Wednesday, the Federal reserve’s Federal Open Market Committee left the target federal funds rate unchanged at 4.25-4.5 percent. The FOMC statement on the current policy, released on Wednesday, reads (my emphases in bold):

Although swings in net exports have affected the data, recent indicators suggest that economic activity has continued to expand at a solid pace. The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid. Inflation remains somewhat elevated.

Gary Stevenson—a man who claims he used to be the best trader in the UK—is starting to gain popularity as a man who comes from a working-class background, has moved in the circles of the elites and knows how the economy really works. He has appeared on many establishment outlets like Channel 4 and BBC Question Time to argue that wealth inequality is the real driver behind falling living standards and increasing stagnation.

The bottom 80% of America is in recession and is starting to cut back on extra spending such as fast food.