By abolishing the weekend, the Soviets were in one move able to strike a blow against both families and religious institutions. All that was left was the state — and state-mandated labor.
As long as there is still room for pushing the market interest rate down even further, the chances are reasonably good that the boom continues, and that the bust will be postponed into the future.
If this data is correct, then the anecdotal evidence just doesn't add up, and it's simply not the case that people don't have time to do anything other than work, eat some fast food, and then do it all over again.
Advocates for "blue laws" want to impose more laws on shopkeepers. These moral crusaders should instead start by setting a good example, and stop watching football games, ordering pizzas, or filling up on gas on Sunday.
British politics could potentially be very different next year, but a recent shortlist of candidates to replace Mark Carney doesn't provide much hope for Austrians.
An essential aspect of the Mengerian-Misesian tradition — the emphasis that it puts on the entrepreneurial character of all human action, that is, its inherent entanglement with the problems of scarcity and uncertainty.
