PPI Inflation Is Over 10% Yet Again, Suggesting More CPI Growth in Coming Months

The Us Bureau of Labor Statistics released new producer price index (PPI) data today, and it’s not good news for consumers.

The PPI is a measure of prices at the production phase of goods and services, and is often an indicator of where consumer prices are headed. Prior to 1978, the index was known as the wholesale price index.

Rothbard on the Court Intellectuals

It’s well known that Murray Rothbard thinks that intellectuals play a crucial role in getting the public to accept the state. Why are these “court intellectuals” needed? The necessity arises from the nature of the state. Following Franz Oppenheimer and Albert Jay Nock, Rothbard maintains that the state is a predatory organization: it uses coercion to seize property from people. It consists, moreover, of a relatively small minority of people: even in states with large bureaucracies, most people are not state officials.