Mises saw essentialist values as fallacies because they were unverifiable and saw metaphysical ideas as a key component of authoritarianism. His solution was utilitarianism.
The story of the failure of Silicon Valley Bank is the story of nearly every bank failure. Fractional reserve banking invites the risky behavior that brings down the banking system.
When politicians speak of "freedom," they usually mean expropriating wealth from one person and giving it to another. That is not freedom at all. Perhaps a better word to use is "liberty."
Thanks to their adoring media, politicians create crises and then blame businesses for them. And the political "solutions" are worse than the original problems.
The FOMC has slowed down in its monetary tightening over the past two months, and at Wednesday's press conference, Fed chairman Jerome Powell continued his shift to dovish territory.
Even if Powell is sincere in this stated desire to slay inflation with more rate hikes, recent bank failures will put the Fed under enormous pressure to end its rate hikes and to once again embrace easy money to save the banks and Wall Street.
Collusion was a way of life with state-chartered enterprises. Little has changed, as firms with political connections still gain profits from their collusion with the state.
Decolonization is a popular academic and media buzzword. But is colonialism actually responsible for poverty in developing countries? This question deserves an honest answer.
One excuse that political elites give when they drag nations into war is that the conflict was "inevitable" or "unavoidable." Ralph Raico knew better.
Some have wrongly blamed the current bank failures on the Federal Reserve’s interest rate increases. The real problem is how the Fed encouraged the entire financial system to get addicted to easy money.
