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All goods and services are scarce, and government intervention has never changed this reality. The scarcity of water is nothing new, nor is it an impossible conundrum for markets.
Contra Mr. Biden, this is entirely about freedom and personal choice.
The West's rush to embrace the Chinese regime's bizarre lockdown method of disease control exposed just how little Western regimes actually care about human rights or the rule of law.
Economic fundamentals are weaker today than when the Great Recession began. And the Fed has less room to maneuver. This suggests the next crisis will be even bigger than the last one.
Calculating "multiplier effects" is perhaps the most common method of cheating with benefit-cost analysis.
Booms and Busts
Paul Krugman recently used his column to attack Austrian economics—yet again—but his attacks rely mostly on myths, poor reasoning, and misinformation.
The Fed is backed into a corner. If price inflation continues, the public could demand action and the Fed could be forced to cut back the flow of easy money, which may lead to a depression.
In 2004, Hans Hoppe delivered a series of lectures at the Mises Institute about his theory of social evolution, and we are fortunate to have this volume, based on a transcript of those lectures, now available.