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When politicians say "you never had it so good" they're taking credit for something they didn't do. In truth, what economic prosperity we have is due to private savers and entrepreneurs making economic progress possible.
Austrian Economics OverviewInterventionism
Money and BanksMoney and Banking
The tactics used by central banks don't just create bubbles or drive up prices. They actively destroy value and act as a tax on real producers in the economy.
The EntrepreneurFree MarketsOther Schools of Thought
Population growth and specialization are not enough to make economies grow. The key ingredient is entrepreneurship.
Other Schools of ThoughtPhilosophy and MethodologyPrices
Dressing up the history of the world, and its economic development, in terms of transaction costs is mostly not very helpful.