Remembering Murray Rothbard on our imperialistic wars: "The true principle of isolationism is that the government should be isolated and people who trade, interchange, and engage in voluntary travel, migration, and so forth should be allowed to peacefully do so."
Record-low consumer confidence and record-strong corporate earnings aren’t a paradox: they’re the Cantillon effect in real time. Mark Thornton explains who inflation rewards, who it crushes, and what comes next.
Ryan McMaken takes a look at Rothbard's seminal 1963 essay "War, Peace, and the State."
The Shiller CAPE ratio has only been higher once in 150 years. The Buffett indicator is 2.5 standard deviations above trend. 40% of the S&P 500 is in just ten stocks. Wall Street sees nothing wrong.
Bob argues that many Austro-libertarians (himself included) have been too quick to dismiss the Trump administration's foreign and economic policy as mere incompetence or corruption, without grasping the strategic logic behind it.
In this article from 1950, Murray Rothbard suggests some of the less bad ways of financing military operations. Hint: monetary inflation and taxing savings and investment are among the worst.
Even if peace breaks out tomorrow, the economic damage is done.
Of course the president, like everyone, frequently protests his desire for peace. Everyone does this. And I think we may assume he is quite sincere about it.
Francis Fukuyama wrote The End of History more than 30 years ago, believing that the fall of the communist bloc would lead to a more peaceful world. We are still waiting for that moment of peace.
Francis Fukuyama wrote The End of History more than 30 years ago, believing that the fall of the communist bloc would lead to a more peaceful world. We are still waiting for that moment of peace.
