Now, more than ever, we're in uncharted waters when it comes to central banks and monetary policy. Economist Brendan Brown takes a look at where we are and what the future might hold for central banks' race to the bottom.
Buyers and sellers in the free market do indeed act from self-interest, but Adam Smith never argued that this excludes friendly feelings for those they do business with.
Austrian economists do not have crystal balls, but Austrian business cycle theory provides a sure foundation for identifying looming economic crises and exacerbating factors, even if the precise timing of a downturn cannot be known.
With oil prices in likely long-term tailspin, corrupt governments can't count on oil sales to bail them out anymore. But Mexico's government didn't get the memo and still clings to the state oil monopoly.
The people who really run the country are unelected "experts" and bureaucrats at the central banks, at public health agencies, spy agencies, and an expanding network of boards and commissions.
The lockdowns of the past month have not been conducive to the common good. While they have saved the lives of many people, they have also endangered—and are still endangering—the lives and livelihoods of many others. They have created a new and dangerous political precedent.
When it comes to diseases, Anthony Fauci has a well established pattern of skipping the science phase, and going directly to press conferences and political posturing.
Experts such as Anthony Fauci are experts only in the narrow field of their expertise. They have almost no knowledge or expertise in other fields, including—apparently—the basics of how human societies function.
