Government employees generally have sweeter pension plans compared to private-sector employees, but government pensions are purposely underfunded. No worries for government employees: taxpayers will pick up the slack.
In his review of Claes G. Ryn's The Failure of American Conservatism, David Gordon points out that Austrian economic methodology is not a value-laden Jacobin experiment, but rather a workable explanation of how a successful economy works.
Government efforts to expand “aggregate demand” involve new spending and money creation. In reality, these activities destroy wealth in the name of expanding it.
While the “Great Reset” involves an unholy alliance between governments and big businesses, implementing its policies is impossible without central banks suppressing interest rates. Now that rates are rising, people are finding firsthand the real costs of the “Great Reset.”
Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.
By borrowing money and “creating” new jobs, the government is creating the illusion of a strong economy. This does not end well.
Javier Milei has begun his presidency by taking action against much of Argentina’s vast welfare state. One hopes it is the beginning to a successful term in office.
As Oregon struggles with the aftermath of drug legalization, some are calling for new criminalization of drugs. The problem, however, isn’t the drugs but rather the socialistic mindset of people in Oregon who refuse to protect property from drug users.
There is a lack of buyers for US Treasury debt. Rating agencies have recently downgraded the US debt, and entitlement benefits’ “trust funds” will go into the red in a few years. The classical economists offer few answers to the depth of this problem.
The standard line is that taxes are part of a “social contract” that individuals have with the authorities that govern them. It is time to rethink the terms of this so-called deal.
