After his recent Zero Hedge debate with MMT co-founder Randall Wray, Bob takes a deep dive into the sectoral balance approach. He explains why the MMT argument is technically a tautology, how it's deeply misleading, and why the private sector doesn't need government deficits to save, invest, and accumulate real wealth.
In studying history, it is key to avoid definitional anachronism—failing to note how a word has changed over time and assuming the present meaning was the same in the past. This is often the case with the word currency as used in colonial America.
On this episode of Power and Market, Ryan, Connor, and Tho look at the updates on the Iran war front, including whether or not a ceasefire will last and recent reporting on Israel's influence on Trump's war decision. Plus, discussion about a recent Tucker Carlson Show guest and his view that Christianity is inherently socialist.
The New York Times claims that the "administrative state"—that is, governance by unelected bureaucrats—protects our country and enhances democracy.
Over the centuries, many academic institutions and publications have played their role in the good work of defending freedom. The Mises Institute does this today.
The US finds itself once again in an undeclared overseas war. Republicans in Congress, however, are unwilling to hold Trump to the Constitution.
This war is not just making energy more expensive, it’s knocking out the higher order goods the global structure of production depends on. This has already locked in dangerous shortages in critical industries like healthcare, food production, and much more.
The old saw that when one has a hammer, everything else is a nail certainly applies to a new book by Oliver Bullough on so-called money laundering. Joakim Book sets the readers straight.
Before J. M. Keynes and Stephanie Kelton, there was John Law. The promise of free money never seems to die.
What happens when a corporation resists a government edict because company leaders believe the policy to be morally wrong? The ordeal of Anthropic is a current case in point.
On the Investing News Network with Charlotte McLeod, Dr. Jonathan Newman presents a primer on Austrian economics.
Gold and silver whip around with war and liquidity stress, while the Fed quietly rolls out “emergency” support. Mark Thornton explains what’s driving the moves.
One of the legacies of Keynesian thought is the belief that war is “good for the economy.” While war may help enable employment, nonetheless, its overall legacy is destructive, and even the jobs war “creates” are economically undesirable.
In this lecture from the 2026 Libertarian Scholars Conference, Ryan McMaken looks at how the old classical liberal program of democracy and constitutions has failed, and why we need a more realist view of the state and its many crimes.
However one may turn the matter, one cannot discover any reason why an ideological distortion of truth should be more useful to the bourgeoisie than a correct theory.
Despite the claims of the chartalists and modern monetary theory advocates, early American monetary history tells a much different story. In fact, much of the historical evidence illustrates Menger’s theory.
On this episode of Power and Market, Ryan, Connor, and Tho discuss Pam Bondi being fired, the SCOTUS taking up Trump's executive order on birthright citizenship, and the difference between realist and naive libertarians.
Government corruption isn’t an anomaly. It is part of the system itself. We should expect government to be corrupt. Free markets are the antidote to this corruption.
The existence of the arsenal makes the State of Israel ineligible for US aid under US law. This is a problem for US supporters of military and economic aid to the State of Israel.
This week, Bob explains Cantillon effects: the insight that new money doesn't raise all prices equally or simultaneously, but flows through the economy in a sequence that benefits early recipients at the expense of everyone else. Then, he shows why this phenomenon is the foundation on which the entire Austrian theory of the business cycle is built.
