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Econometric models are constructed with the idea that they can be substituted for authentic human action. Not surprisingly, they fail badly.

What lies behind the attempt to bypass fear of failure is the perceived lack of any substantial cost to failure. The illusion lasts only for so long before economic reality prevails.

The right way to tackle the problem of inequality is to end inflationary monetary policies. A fortune made through production is a fortune made by serving others. But a fortune made from inflation is a fortune made at the expense of others.

Free-market intellectuals, activists, and columnists must never tire of endlessly recapitulating the truth about freedom, free markets, and peace. So long as a sizable portion of the Argentine public thinks the Peronists "get it right," no free-market reformer can succeed.

Senior Fellow Jesús Huerta de Soto and Fellow Philipp Bagus write: 

The election of Javier Milei brings the first anarchocapitalist world leader in history.

A historical event has taken place, not only for the libertarian movement but for the history of the world.

A bedrock of Austrian economic thinking is the notion of causality. A libertarian worldview also requires the understanding of causality.

Not only is Washington in political turmoil, but the policies emanating from the Beltway are more incoherent than ever.

Instead of the usual statist candidates, Argentine voters have elected a self-proclaimed Rothbardian who is calling for radical free-market changes in the nation's economy.