Cronyism and Corporatism

The fight against lab-grown meat has picked up considerable steam over the past year, with multiple states now prohibiting its manufacture, sale, and distribution.

Amtrak is always on the verge of reviving intercity rail traffic in the US, or at least that is what politicians want us to believe. The truth is that the case for defunding Amtrak has never been stronger.

Progressive supporters of USAID claim that the agency does vital work overseas to provide medical care and other necessities for the poorest of the poor. Yet, a careful look at its record reveals that USAID often is a hindrance to the very people it claims to help.

These subsidies exemplify crony capitalism. The Austrian School of economics defines any subsidy as government intervention in the functioning of the economy.

Amtrak is always on the verge of reviving intercity rail traffic in the US, or at least that is what politicians want us to believe. The truth is that the case for defunding Amtrak has never been stronger.

The late P.T. Bauer provided much insight into the issue of the so-called First World sending aid to Third World nations in the name of “development.” Bauer demonstrated conclusively that such donations actually impede economic growth in poor nations.

Cinephiles are mourning the death of Val Kilmer, who is remembered for many movies, but we ought also to be remembered for his performance in the underrated anti-war classic, Real Genius.

In a libertarian world, the streets and highways would no longer be state-owned, but instead managed by private entities such as companies and cooperatives. How might this work?

The California Bullet Train has become the Eternal Project That Won‘t Go Away no matter how big a failure it has become. Political inertia is a powerful force and California politicians have used it to deceive voters and taxpayers, who will face a reckoning.

Excerpts from the 2025 Memorial Lectures presented at the Austrian Economics Research Conference in Auburn, Alabama.