If you were to browse the economics sections of bookstores here in my home city, Dublin, you would find a wide variety of books by anticapitalist celebrity economists. Books by free market economists? Not so much.
“Poverty in society is overcome by productivity, and in no other way. There is no political alchemy which can transmute diminished production into increased consumption.”
In this chapter, we’ll assess several popular explanations for why the Fed’s monetary inflation since 2008 hasn’t generated a comparable increase in price inflation.
At a time when universities have become the most intolerant institutions against intellectual freedom, environments like the Austrian Economics Research Conference have never been more important.
The risk of a financial crisis does not come from rising bond yields. The risk of a financial crisis was created by lowering bond yields to unrealistic and unjustifiable levels in the first place.
When Georgia and Florida scaled back covid restrictions, the experts predicted far more death in the "open states" than in the locked down states like New York and California. The numbers tell a different story.
Few political follies are more hazardous than presuming that one’s liberties are forever safe. If liberty is God’s gift to humanity, then why were most people who ever lived on Earth denied this divine bequest?
The more the government spends, the worse it is for the health of the economy and thus for economic growth. Experts who advocate for very strong government stimulus never bother to ask how those measures are going to be supported by the larger economy.
Wage hike advocates effectively seek to force entrepreneurs to raise the costs of production after many of them have barely survived what became a catastrophic 2020 due to the coronavirus pandemic.
The second edition of The Great Fiction will be welcomed by all readers interested in the theoretical foundations of a free society.
