Leonard Read's famous "I, Pencil" explained the workings of the market in terms of the creation of a simple pencil. However, we should not forget that the reviled fossil fuels are involved at every turn.
The recent actions of the Federal Reserve are reminiscent of central bank activities in wartime.
Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.
Student debt is a huge social problem, but the reason is that higher education costs themselves have become a major problem and are a financial burden whose costs outweigh its benefits.
Social democrats are so desperate to cast off limits on government that they'll embrace anything that justifies their ambitions. So they invent theories of money that are very, very wrong.
Postwar Germany was occupied, in ruins, with an economy in chaos. Germans were reduced to using cigarettes supplied by American GIs as money.
Forcing the minimum wage above the real market wage causes more unemployment. Small businesses suffer from these mandates as do the least productive workers.
Mainstream economists are quick to claim that environmental problems are caused by "market failure" that can be "fixed" by government intervention. However, the intervention itself is the problem.
Mark Thornton joins Ryan and Tho on Radio Rothbard to take a closer look at the state of the US dollar and how price inflation and economic crises are likely to play out in the months and years ahead.
