American history is a story of non-stop efforts by governments to intervene in the marketplace through regulations, monopolies, and subsidies. Most surprisingly, these market interventions appear to place a central role in causing economic crises over the years.
The 20th century was the progressive century, marked by the rise of war and socialism as entrenched features of American life. But perhaps the most lasting effects will be felt in the entitlement mindset woven into the American psyche via decades of successful incrementalism.
For the IRS and the federal government in general, the Drug War is just the gift that keeps on giving since the high tax rates can be traced back to a 1980s-era anti-drug law.
Whether we're talking about central banks or the US Supreme Court, governments everywhere continue to centralize power in the hands of the very few. The problem with this, though, is that successful central planning is impossible and leads to economic chaos.
It would be a mistake to label Trump as an "anti-war" candidate, but for a voter who's gung ho on military action, Trump leaves much to be desired.
The latest issue of the Cato Journal contains articles written in honor of Richard K. Vedder, who is strongly sympathetic to the Austrian school of economics.
Bribes can work both ways. Sometimes it pays to bribe politicians for what you want. But voters will often happily exchange votes for free stuff. In fact, the latter strategy has been proven to work wonders if one wants a bigger government.
On this week’s episode, we feature a talk by Dr. Ron Paul at the Mises Circle in Houston.
