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Paying off the debt obviously won't happen, and the feds won't even contemplate anything that keeps the debt from getting bigger. They'll just try to inflate the debt away, so get ready for price inflation. 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian School, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Governments in the US subsidize immigration through a bevy of welfare programs. The effect of subsidization is predictable: you get more of what you subsidize. This is true for student loans, ethanol, immigrants, and more.

This video is an  English translation of Jesús Huerta de Soto’s comments about

"Government" and "state" are terms typically used synonymously these days. But good governance and good law do not require the presence of the state and its monopoly power. 

While economists speak of GDP as a legitimate measure of the economy, a closer look tells us that it is biased toward consumer spending and fails to give a true measure of the value of capital.

The designations of "legal" and "illegal" do little to tell us about the productivity of a migrant, or the demands he or she makes of the welfare state. In practice, legal immigrants have greater access to public funds than illegal immigrants, and it shows. 

In 2022, Michigan Gov. Gretchen Whitmer used political favors and government grants to maneuver thousands of workers into jobs producing electric trucks. But consumers aren’t interested.

Some economists believe that the balance of payments is what determines currency exchange rates. In fact, exchange rates are always about the purchasing power of some currencies relative to others.

[From the  September-October 2023 issue of The Austrian.]