As the invasion of Ukraine continues to unfold, those seeking to understand how such a tragedy could come to pass would do well to pick up M.E. Sarotte’s new book Not One Inch: America, Russia, and the Making of Post–Cold War Stalemate.

Adapted from The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century.

The Russia-Ukraine crisis is unfolding. With Biden threatening sanctions, what will this mean for domestic monetary policy? With the Fed’s March meeting several weeks away, Fed Governor Christopher J. Waller explained how he expects the year to unfold; starting with the obvious:

Inflation is too high, and I think concerted action is needed to rein it in.

I am sorry to have to report the death of another old friend, Gary North, who passed away a few days after his eightieth birthday. He was by training an economic historian and had a strong commitment to Austrian economics. He greatly admired Mises and Rothbard. He once asked Mises how he had been able to publish his famous article of 1920 on socialist calculation in a journal edited by Max Weber. Mises answered, “Well, I knew him, and I sent it in.” Gary wrote a notable study of Marx, Marx’s Religion of Revolution, and a long and learned commentary on biblical economics.

It was a shock to learn last night that my dear friend Paul Cantor had passed away. He was a great Shakespeare scholar and in Shakespeare’s Rome and Shakespeare’s Roman Trilogy he showed that Shakespeare had a profound knowledge of the reasons for the rise and fall of the Roman Republic. In the book, he compared Shakespeare’s interpretation of Christianity to Nietzsche’s. I had a long message from him on January 5 about this book, discussing a review of it that I planned to write.  He was also a leading authority on popular culture.

As the Ukraine regime has imposed martial law in the wake of the Russia invasion, it has also apparently imposed a new near-universal conscription order. USA Today reports:

The Ukraine State Border Guard Service has announced that men ages 18 to 60 are prohibited from leaving the country, according to reports.

With Russia launching a military invasion of Ukraine on February 24, 2022, the corporate press has grown shrill in its calls for punishing Russia with draconian sanctions, supplying Ukraine with increased military aid, and diplomatically isolating the Eurasian power as much as possible. The Two Minutes Hate against Russia has been cranked up to eleven, making any nuanced analysis of why the conflict between Russia and Ukraine has reached such a point almost impossible.

This year is the fortieth anniversary of Murray Rothbard’s The Ethics of Liberty, and although many topics in it have attracted attention, several of them have been neglected. I’m going to discuss one of these in this week’s article.

Joe Biden’s perverse legacy, if that term even applies anymore, may well be determined in the coming weeks by his handling of events in Ukraine. He can improve it by showing restraint against the relentless neoconservative chorus. One wonders what the results of a pure popular vote on the question of going to war with Russia over Ukraine would be, versus a vote solely within the DC beltway.