State lawmakers possess an infinite source of good intentions. Wielding the power of this limitless benevolence and munificence, politicians are regulating the lives of citizens while eviscerating their existence in the process.
Some argue that someone’s superior talent or success is itself the result of mere luck. That claim, and its relevance as a justification for redistribution, has generated much controversy.
The repeated failure of prohibition may be just the catalyst that Austrian economics needs to gain traction with the American public.
The demand for goods is not constrained by the amount of money, but by the production of goods and services available to trade for money.
What is a national-security state? It is a totalitarian-like governmental structure that consists of an enormous military-intelligence establishment with extraordinary powers, such as indefinite detention, torture, secret surveillance, and even assassination of both citizens and foreigners.
If the small sample size of monetary history is any guide, the combination of asset market crashes and high goods inflation empowers sound money forces in the political arena. At the moment, neither of those factors are in play.
The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas is a lively history of the astonishing influence prewar Viennese intellectuals had on the greater world, and continue to have in areas far beyond economics.
Economist Robert Murphy lays out the purpose and structure of his upcoming book Understanding Money Mechanics, a guide to the Federal Reserve System that is a must-read for laymen.
The US's enthusiasm for sanctions means Europe is learning the price of doing business with the United States and with the dollar. They're now developing new ways to work around the the US-dominated financial system.
While the legislation introduced in the US Congress remains fiction under a Republican executive and senate, the Brussels initiative will become law unless there is considerable opposition from EU member states.
