Keynesians claim that through the “multiplier,” a country can spend itself into prosperity. All that is needed is for government to tax, borrow, print money and spend, and prosperity will follow. Austrian Economists, however, are not fooled by such myths.
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The ruling classes and their media blamed the 2008 financial crisis on free markets and too little government regulation. However, because the Federal Reserve promised to help cover losses in financial markets, it practically invited reckless behavior.
What is a proper libertarian foreign policy? Murray Rothbard wrote that first and foremost, a peaceful and realistic policy means not invading other countries and working to end wars as quickly as possible.
Ralph Raico’s scholarship on the origins of classical liberalism serves as an essential counterweight to Hayek‘s Anglocentrism.
“It is ideas that group men into fighting factions, that press the weapons into their hands, and that determine against whom and for whom the weapons shall be used.”
The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture.
For now, the number one thing we can do to make the federal debt less costly and more manageable is to just stop making it bigger.
In Nicholas Wolterstorff‘s Understanding Liberal Democracy, he assails a vastly influential school of thought in a way that libertarians will find useful.
Western Europe has been at peace for the past 80 years. Unfortunately, EU leaders have not appreciated the benefits of peace and look to promoting war. The memories of World War II have faded, but the EU seems determined to create new bad memories.
