U.S. History

We're building a bridge from Austrian theory to its application in business. This can help us gain a greater understanding of the merits of Austrian economics. 

In a slave economy, slave owners seek technological innovations that make slave labor more productive. But they also place inefficient and artificial limits on innovations that might change the established social order.

What we are now witnessing in the larger society is the result of decades of work within academia and government to destroy the private-property system of the West and replace it with a new socialist order.

In a slave economy, slave owners seek technological innovations that make slave labor more productive. But they also place inefficient and artificial limits on innovations that might change the established social order.

The Jacksonians saw central banking for what it was: a way of making the rich even richer, while ripping off ordinary people.

The US Constitution says nothing about central banking, so it does not authorize the existence of a central bank. Yet, "the Constitution has been tortured and twisted even as we speak to allow big government to control our lives."

Jeff Deist discusses Hazlitt's radical and controversial ― and virtually unknown ― 1942 book A New Constitution Now, a how-to guide for remaking the US constitutional system.

By flooding the market with cheap credit, Alan Greenspan pushed interest rates (including mortgage rates) down to artificially low levels. This caused the bubble in house prices and misallocated too many real resources to the housing sector.

Jimmy Carter doesn't get credit for his deregulation efforts, but his initiatives probably were as significant a boost to the economy as any president has accomplished since 1980.