A truly effective criminal justice system would be built on restitution, not imprisonment and punishment. Moreover, government-funded prisons have no incentive to rehabilitate prisons since they receive funding regardless of outcomes.
Francsico García Paramés notes that economists who focus on near-term forecasting are generally useless to investors. But principles of Austrian economists — and a long-term view in general — can provide insights outside the mainstream.
"The biggest problem, not only economically but also politically, is the debt problem. It is unimaginable, how this madness of creating more and more debt and just pushing the economy by inflating the money supply will end."