Both Monetarists and Keynesians believe that a growing economy requires a growing money supply, thus, the Federal Reserve‘s “target” inflation rate of two percent. Austrian economists, however, understand that inflation at any level creates economic damage.
Functionally, there is no difference between the US's Medal of Freedom and the Order of Lenin awards handed out by the old Soviet Union.
The Federal Reserve has welcomed the New Year by more of the same. As government spending continues to explode, the Fed enables it with its usual financial tricks.
Bob looks at the misconceptions and misuses of GDP accounting, explaining why this widely accepted metric often paints a misleading picture of economic health.
Politicians’ lack of concern stems from the fact that taxpayers, families, and businesses will bear the brunt of the next crisis.
Since the end of the 19th Century, much of US history has been marred by meddling in the affairs of other nations. From William McKinley's Spanish-American War to George W. Bush's invasion of Iraq, US meddling has created tragedy and chaos abroad and at home.
Passed in the immediate aftermath of the American Civil War, the Fourteenth Amendment was intended to further centralize governance away from the old decentralized political model. It still is accomplishing that purpose.
Antitrust law is being touted as an answer to our inflationary economy. Unfortunately, as Austrians have noted, antitrust law does nothing to bolster competition and actually makes the economy less competitive.
Rose Wilder Lane, known for her many writings, also has been a favorite of libertarians. In this week‘s Friday Philosophy, David Gordon reviews a book based on her columns in the Pittsburgh Courier from 1942-45 on race and race relations.
The debate over use of nuclear weapon is built upon the assumption that they‘ve only been used twice, both against Japan. However, if we expand the definition of use to how we apply it to other kinds of weapons, then nuclear weapons have been used too many times.
