U.S. Economy

Mark Thornton examines the rise of democratic socialism, the political realignment it may trigger, and why young Americans are embracing bad solutions to real problems.

Mark Thornton warns that war propaganda turns citizens into dupes. Ludwig von Mises’s critique of statism explains why foreign conflicts keep returning.

Intervention begets intervention. This was the case following the American Revolution, as the consequences of inflation, credit expansion, and wartime disruptions set up for the depression of 1784 in peacetime.

As AI becomes a more important and visible part of our lives, the movement to regulate it also grows. The standard regulation narratives—that government regulates things in the name of the public interest—clearly do not fit the facts.

Intervention begets intervention. This was the case following the American Revolution, as the consequences of inflation, credit expansion, and wartime disruptions set up for the depression of 1784 in peacetime.

As AI becomes a more important and visible part of our lives, the movement to regulate it also grows. The standard regulation narratives—that government regulates things in the name of the public interest—clearly do not fit the facts.

In making threats against oil companies for "price gouging," President Trump shows he knows no more about prices than he does about the real effects of tariffs.

Mainstream economists claim that understanding and observing reality is not really “doing economics.” Instead, they believe that all we need are abstract theories that predict events well. But over time, financial markets must bend to the real world.

Mainstream economists claim that understanding and observing reality is not really “doing economics.” Instead, they believe that all we need are abstract theories that predict events well. But over time, financial markets must bend to the real world.

Mark Thornton argues modern politics is a power struggle run by elites—and that Austrian economics explains both the rigged system and the way out.