A bedrock of Austrian economics and libertarianism has been free trade. Unfortunately, some people who claim to value liberty no longer value unhampered exchange.
The current banking crises have deep roots in US financial history. Monetary authorities have engaged in inflationary behavior for more than a hundred years.
Austrian economics is defined by its adherence to the a priori methodology, not empiricism. That places it at odds with mainstream economics, which stresses the methodology of positivism.
Washington elites and especially their media have denounced what they once praised: leaking of official documents that show the government has been lying.
Some have wrongly blamed the current bank failures on the Federal Reserve’s interest rate increases. The real problem is how the Fed encouraged the entire financial system to get addicted to easy money.
Welcome to Whose Economy Is It, Anyway?, where the rules are made up and the dollars don’t matter. Or at least that seems to be the view of the Yellen regime.
