JOIN OR RENEW TODAY
InflationOther Schools of ThoughtPrices
Bad theories have a long life in the social sciences, and the crude quantity theory of money is one that refuses to go away.
China’s “new infrastructure” will likely be but one more example of the false promise of technology as an antidote to the irrationality of state-controlled economies.
Philosophy and Methodology
"The natural condition of man is extreme poverty and insecurity. It is romantic nonsense to lament the passing of the happy days of primitive barbarism."
Monetary PolicyMoney SupplyProduction Theory
The heart of economic growth is the expansion of real savings. Monetary pumping only destroys wealth and savings.
Booms and BustsU.S. HistoryInterventionism
Murray Rothbard’s number one rule in an economic crisis is for the government not to interfere with the market’s adjustment process. Doing so will only perpetuate the crisis.
It's possible that there may yet be a V-shaped recovery as employment really takes off in the next few months. But, so far, there's little reason to assume this will be the case.
Legal SystemPhilosophy and Methodology
A moral injustice is a legal injustice, period.
Free MarketsInterventionismMonopoly and Competition
Economists have long tried to use the idea of "public goods" as justification for a wide variety of government interventions. But there is no objective measure for what's a public good and what's not.