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Booms and BustsThe FedInflationU.S. Economy
Forget Vegas sports betting for reckless speculation. When the Fed officials make projections, the markets assume they are accurate. However, as Jerome Powell himself admits, forecasts are speculative at best.
Economic PolicyProtectionism and Free TradeU.S. EconomyWar and Foreign Policy
On yet another crusade, US authorities have sanctioned Chinese cotton imports. The sanctions won't change Chinese policies but they will create hardships for many.
Cronyism and CorporatismLibertarianismProgressivismProtectionism and Free TradeStrategy
From the various compromises pushed by "Beltway Libertarians" to the anti-free market rhetoric of conservative Sohrab Ahmari, government intervention has a lot of new friends. This will not end well.
The FedMonetary TheoryMoney Supply
The common belief is that inflation is the general rise in consumer prices. However, rising prices are a symptom of inflation, which really is expansion of the money supply.
EntrepreneurshipFiscal TheoryProduction Theory
One of the canards of mainstream economics is that only government can provide the "optimum" number of nonrivalrous, or public, goods. Austrian economists have never accepted that theory.
Economic PolicyGlobal EconomyInflationMonetary PolicySocialism
Javier Milei has promised to make the US dollar Argentina's currency if he is elected. Whether it will help the Argentine economy is another matter.
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LanguageMoney and BankingOther Schools of Thought
While supporters of fractional reserve banking claim banks inform depositors that they are really lenders (and banks are borrowers), a survey of the fine print yields says otherwise.