If consumers are free to choose, any entrepreneur focused on serving customers can compete against even huge established corporations. Moreover, the market provides a way to reward the most innovative and customer-centered entrepreneurs.
Ships aren’t cheap to purchase. But when financing is abnormally cheap and expectations of future business are rosy, it stands to reason that shipping companies would put in a raft of orders.
Given the monetary dark arts being practiced around the world, I would much prefer my money in the hands of Gringotts goblin, than at the mercy of our Federal Reserve Chairman Who-Must-Not-Be-Named.
Implicit in Trump's economic statements is Mill's (and the Austrians') central message that there is no need to ever worry about the level of consumption, because it will always naturally adapt itself to the level of production.
Liberalism has no party flower and no party color, no party song and no party idols, no symbols and no slogans. It has the substance and the arguments.
Europe continues to move toward banning physical cash. But, in spite of government claims, it's not about fighting crime. It's about economic control.
If helicopter money is implemented, those who first gain the use of the new money may benefit by increasing consumption before prices rise, while others will see prices rise before they are able or willing to use the money. But the end result will be higher prices but no overall increase in welfare.
Institut Coppet in France has recently made available a French translation of Murray Rothbard's Education: Free and Compulsory.
Analogies involving cars and firepower are not appropriate for monetary policy. They propagate the idea that the Fed can carefully "steer" the economy or that they have some large, heterogeneous set of policy tools, when the Fed can really only do one thing: artificial credit expansion.
