The saddest aspect of this economic ignorance is that these evangelicals have completely ignored the real reductions in poverty rates in the past forty years, reductions that are due to liberalizing economies that once were in socialist straitjackets.
Marx believed truth could only be fully understood by a certain socioeconomic class. Ludwig von Mises disagreed.
In the midst of a stock market bubble like this one, everyone from Warren Buffet down to the shoeshine boy has some great tips for you.
It is possible to conceive of a world where fractional reserve banking is understood by both banker and depositor and involves no deception or fraud. But in that world, deposits cease to be money and become complex credit securities.
Rothbard has explained how it is wrong to equate what would be reasonable for a private protection agency with what is permissible for the state.
A second round of lockdowns will assault an America already suffering from widespread unemployment and a fragile economy. Even worse, round two is likely to last longer than round one, bringing an even larger economic and social toll.
Contrary to what many modern economists say, increased saving is not a problem for the economy. The real problem stems from declines in production and saving, and these often result from central banks' monetary policy.
After the Great War, Austrian cities and towns began issuing their own money. The Germans tried something similar, but without the voluntary and decentralized aspects of the Austrian model. German disaster ensued.
Faced with declining city budgets, harsh future COVID lockdowns, and more riots, many residents and business owners in America's core cities will likely decide the cities aren't worth the trouble anymore.
The history of bailouts in the United States is a record of broken promises and growing moral hazard.
