Democracy is only allowed when the voters vote "correctly" according to the ruling classes. "Wrong" decisions will trigger court rulings voiding the vote. Or we'll just keep voting until people get it "right."
Business owners have always made errors, and external factors can lead to economic crises of various sorts. But the cyclical pattern of booms and busts we now see are a result of government interventions not seen in a free marketplace.
Rothbard’s work on welfare economics probably ranks among his least-known achievements, but it is truly a tour de force and another tribute to his great originality and talent as an economist.
Kamala Harris has promised to rule by decree if elected president. For her, Congress is little more than an advisory committee. The average voter, of course, ranks even lower than that.
Kai-Fu Lee’s new book AI Superpowers offers many insights into the development of of AI, but too much of the book is spent chasing economic phantoms.
The movement for alternative money is the result of the history of government monetary mismanagement.
I offer my own definition of government: Government is that great fiction, through which everybody endeavors to live at the expense of everybody else.
Robots are not fundamentally different from other labor-saving innovations, and there's no reason to believe increased innovation will lead to mass unemployment or mass poverty.
Not only does fractional-reserve banking gives rise to monetary inflation it is also responsible for monetary deflation. Money created out of "thin air" can disappear as rapidly as it was created.
In Canada, it is estimated that between 25,456 and 63,090 Canadian women may have died as a result of increased wait times between 1993 and 2009.
