When inflation heats up because central banks hold interest rates to artificially low levels, the standard approach is for central banks to increase interest rates. The better policy is not to artificially manipulate interest rates at all.
President Trump’s current war with Iran not only is creating economic havoc around the world, but it is also bleeding US taxpayers. There are no good outcomes here.
Murray Rothbard based much of his work on property rights, and in this piece, Ludovico Lumicisi applies Rothbardian thinking to the technology of our digital age.
Murray Rothbard’s For a New Liberty is a classic at bringing together the foundations of Austrian Economics and libertarian thinking.
How does one act counterculturally and rebel against the systems of dependency? How do young people learn to act wisely without examples? Knowing how to see through the smoke and mirrors of the inflation culture is a necessary skill for a freer and more peaceful tomorrow.
Mises described the problem, Hayek proposed the direction, Kirzner explains why the market will not stop. And the market, as so many times before, has already found the first step.
Modern moral philosophers often come up with immoral ways to undermine free markets. In this week’s Friday Philosophy, Dr. David Gordon examines the book How Much Is Enough? by Robert and Edward Skidelsky and questions the authors’ conclusions.
In studying history, it is key to avoid definitional anachronism—failing to note how a word has changed over time and assuming the present meaning was the same in the past. This is often the case with the word currency as used in colonial America.
Mainstream economists, not to mention most financial journalists, claim that deflation is as bad or worse than inflation. The Austrians know better. We need deflation and we need it now.
The New York Times claims that the “administrative state”—that is, governance by unelected bureaucrats—protects our country and enhances democracy.
