David Hume’s Insights Explain America’s Economic Decline

Since he was a young up-and-coming property magnate in New York City, Donald Trump has been fixated on what he believes to be foreigners’ “cheating” on international trading terms to the detriment of the US. He believes—along with many Americans—that foreigners have stolen all our good, high-paying jobs by manipulating their own currencies, subsidizing their home industries, and erecting protective trade barriers—in the form of tariffs and quotas—that make American goods uncompetitive. 

Coming May 15-17: 9th Austrian Economics Meeting Europe

Coming May 15-17 in Toruń, Poland, the 9th Austrian Economics Meeting Europe features keynote lectures from Jörg Guido Hülsmann, Mateusz Machaj, and Tate Fegley. 

This is an academic conference featuring new papers and presentations from two dozen scholars from across Europe. 

The event begins at 9:30 am on Friday, May 16. Contact Łukasz Dominiak (lukasdominiak80@gmail.com) for information on registration. 

Google’s Antitrust Breakup Trial: Government Overreach

The current trial to potentially divide up Google is another unwarranted governmental overreach into the free market. One of the many reasons that libertarians believe in minimal government intrusion into the economy is that it discourages competition and innovation. While the government believes that Google has become a monopoly in the search business, the ultimate goal should be to let the free market decide if other browsers and search engines offer anything superior.

How Would Anarchy Work?

[This article is a selection from Against the State: An Anarcho-Capitalist Manifesto, 2014.]

Despite all the problems of the State, many of you are probably skeptical about anarchism. How would it work? We can’t give an answer that gives all the details of the institutions of anarcho-capitalism, but we can sketch out some of its main features. Those who want a more detailed account should read Rothbard’s The Ethics of Liberty.

US Trade Account Balance and the Imposition of Tariffs

On Wednesday, April 2, 2025, the US President Trump announced that he will apply at least a 10 percent tariff on all exporters to the US, with even higher duties on some 60 nations, to counter large trade imbalances with the US. That includes some of the country’s biggest trading partners, such as China—which now faces a tariff of well above 50 percent on many goods—as well as the European Union, Japan and Vietnam.

A Taxing Cut for IRS: Free Tax Filing Option to be Ended

At the conclusion of the recent filing season for 2024 tax returns, the Trump administration announced that the Internal Revenue Service (IRS) will end its free Direct File (DF) program that taxpayers have used on the IRS website to file their own tax returns. The decision was based on fact-finding by the Department of Government Efficiency (DOGE) that DF duplicated Free File (FF)—a public-private free offering that has been available since 2003.