Trouble emerges once banks start to engage in lending unbacked by real savings, this gives rise to the expansion of credit out of “thin air.” This in turn sets in motion the menace of the boom-bust cycle.
In Las Vegas, airline passengers plummeted 64 percent during 2020, and the convention business has collapsed. For Vegas, there are troubling signs that the world is not in a hurry to spend freely on extravagant face-to-face meetings.
Lockdowns advocates claim fear of the virus is really what kept people home—and has thus led to the economic destruction of the past year. But they also claim that without forced lockdowns, people will quickly go back to normal. Both can't be true.
Forty years ago, the US had almost no legal concealed carry. Then over just a few decades, eighteen states adopted full-blown "constitutional carry" provisions, with many other states adopting concealed carry provisions as well.
The fact that colonial empires often differ significantly in their outcomes can serve to provide us with insights into what sorts of government policies are the most and least harmful.
Since the USSR unexpectedly collapsed, NATO has been going around poking hornets' nests and finding new enemies hoping to justify its existence. It's time to shut the whole thing down.
Ludwig von Mises understood that locally based governance "follows necessarily from the principle of the rights of man.” And it's why Rothbard supported secession and local governance right down to the most local level possible.
