Mises Wire

The US’s bombing of Caracas reiterates three key foundations of American foreign policy: the Constitution is dead, democracy is irrelevant, and the “rule of law” doesn’t matter.

Sensing the dangers of tyranny by the majority, John C. Calhoun developed the doctrine of the concurrent majority which served to limit the powers of government.

While most economists believe that central banks set interest rates, in reality, they are set by time preferences of individual actors in the economy. Central bank influences on interest rates ultimately result in setting off boom-and-bust cycles.

From war to tariffs to inflation, it is clear Donald Trump is a devoted disciple of the ideology of statism and interventionism. The fact he’s better than the atrocious Kamala Harris doesn’t change this.

Even Milton Friedman—who never supported gold as money—admitted that a monetary system based on gold  would “take care of itself.” Instead, our money is created and manipulated by the politicized hand of government and is based on theft.

President Trump’s latest national security initiative is unlikely to make the US secure from outside danger. For that matter, Trump’s own internal policies are making this country less secure.

Depending upon the narrative, American Indians were either noble creatures who were victims of a genocide by rapacious European settlers or were bloodthirsty savages. The truth is more nuanced.

In this week’s Friday Philosophy, Dr. David Gordon assesses the “libertarian” foreign policy prescriptions of Murray Rothbard and David Freidman. Naturally, Rothbard’s view—built upon principles of natural law—stands above Freidman’s less-principled “pragmatism.”

From an Austrian perspective, the Panic of 1893 provides key lessons, but this consequential panic has not received as much direct attention as it deserves.

Ever since independence more than 40 years ago, Zimbabwe has been wracked with socialism, inflation, and corrupt political leadership. Yet, there is a way forward for the nation, if Austrian Economics can be in its future.