Does GDP Present an Accurate Picture of the Economy? Not Likely
The most popular measure of economic growth is GDP. However, GDP movement is driven by changes in the money supply, not real economic factors.
The most popular measure of economic growth is GDP. However, GDP movement is driven by changes in the money supply, not real economic factors.
Austrian business cycle theory points out that easy money leads to malinvestments. Once easy money disappears, the crash begins. Time to clean up malinvested assets.
Can the injection of new money into the economic system enhance economic growth? Not really. Increasing (or decreasing) the money supply affects the demand for money but doesn't make us wealthier.
Radical environmentalists have convinced people that we are doomed if we continue to use fossil fuels. We are doomed if we stop using them.
American corporations are lavishing billions of dollars on leftist groups in the name of "equity." But many of them also are donating to even more questionable people and causes.
Austrian economics is not dry theory. It helps us make sense of our world and shows that exchange and production have a place in our moral universe.
While the horrors of the transatlantic slave trade have been well documented, people other than slave traders and slaveholders benefitted from it, with some surprising results.
Shoddy service, regular breakdowns, and overbudget to boot. There is a reason why government-funded projects always waste resources.
United States citizens are watching a deteriorating tango between banks and the federal government.
The story goes something like: In the last few years, the Federal Reserve printed up to 80% of all bills that were ever in circulation.