Today, the Fed takes a short break from robbing us via inflation and, instead, delivers huge amounts of cash to banks to service Black Friday purchases. The large cash infusions often make banks vulnerable to robberies.
What lies behind the attempt to bypass fear of failure is the perceived lack of any substantial cost to failure. The illusion lasts only for so long before economic reality prevails.
Econometric models are constructed with the idea that they can be substituted for authentic human action. Not surprisingly, they fail badly.
Not only is Washington in political turmoil, but the policies emanating from the Beltway are more incoherent than ever.
A bedrock of Austrian economic thinking is the notion of causality. A libertarian worldview also requires the understanding of causality.
Free-market intellectuals, activists, and columnists must never tire of endlessly recapitulating the truth about freedom, free markets, and peace. So long as a sizable portion of the Argentine public thinks the Peronists "get it right," no free-market reformer can succeed.
Instead of the usual statist candidates, Argentine voters have elected a self-proclaimed Rothbardian who is calling for radical free-market changes in the nation's economy.
Since the original sugar tariff of 1789, US government policy has been to subsidize sugar, a policy that has led to serious consequences, including a health crisis of obesity.
As President Biden mulls mandating commercial passengers to have Covid vaccinations, perhaps he should remember that his move would increase the death rate from traffic accidents as more people eschew flying and take to the open road.
Critics of college legacy admissions claim that the practice is racist and admits undeserving students. The longer-term results of such admissions show why colleges continue to employ them.
