Noah Smith's Bloomberg column praises Milton Friedman's "plucking model" of recessions, where the severity of a bust is connected to the strength of the following recovery. Does this refute Mises' BOOM-BUST theory?
Middle-income households and workers haven't been disappearing. They've been moving into higher income levels, while the lowest-income groups have been getting smaller. But another recession could erase many of the gains made over 20 years.
Many entrepreneurs go into the marketplace with romantic and abstract notions of how markets work. But there's nothing romantic or abstract about the losses incurred by failed entrepreneurs.
Abenomics, Japanese Keynesianism on steroids, has made the rich richer, and all others poorer.
A lobbying group in Canada is demanding home-sharing services like Airbnb face stiffer government regulation. Activists claims its all for "the community." But huge corporate hotel firms are the only ones likely to really benefit.
The whole point of zoning is to limit freedom in the development of new housing options. As a result, housing is more expensive, and the consumers are more poorly served.
School boards are political institutions often more interested in social policy than in education.
Socialism was sold to Africans as the antidote to the legacy of colonial occupiers. But it was the African countries that most resisted socialism that experienced the greatest gains in standards of living.
The standard Austrian approach to air pollution and regulation rejects the bean-counting of winners and losers, and instead embraces a property rights approach.
Given the ongoing growth of government taxation, spending, and regulation, it should be abundantly clear that we are hardly living in an age of "market fundamentalism" as so many leftists and conservatives claim.
