While the usual characters praise central banks for supposedly bringing economic stability, Dr. Shostak explains that their presence makes things unstable because they break the relationship between saving and lending.
In contrast to the Keynesians and Friedmanites, Rothbard showed how Austrian economists can understand the stagflation phenomenon through price theory and capital theory. Interest rates must be raised in order to flush out malinvestments.
F.A. Hayek wrote that the "worst get on top" when it comes to government. Nearly eighty years after he wrote those words, nothing has changed.
The literary accounts and studies of the Soviet Union, the Eastern Bloc, and Nazi Germany necessarily failed to grasp the root of the problem—namely, the psychopathological dimension of the inception and development of pathocracy.
The White House this week admitted sanctions don't work, but Biden thinks it's fine to shrug and say, "Sure, sanctions have failed, and are also causing food shortages, but that's just the price you little people gotta pay!"
There are only two ways human cooperation occurs: through voluntary means or through coercion. The free market stands for voluntary cooperation; coercion and violence are the means of the state.
Beijing only ever really wanted Moscow around as a way to balance against Washington. But with the US being seen to overtly seek to punish Beijing, this will now only move it closer to Moscow.
Today, progressives govern by the law of good intentions, and when government has good intentions, the results, no matter how disastrous, don't matter.
Today's advocates of escalation in Ukraine are embracing an updated version of "Better dead than Red." They think themselves fit to decide for countless millions what's worth dying in a nuclear holocaust for.
All too often, people accept the state-sponsored "solution" to a perceived problem as the logical choice. But this "solution" really is a non sequitur.
