Paying People Not to Work Won’t Make Us Richer
When the government pays people not to work, that means fewer people producing fewer goods. And that means a poorer society. More government spending won't change this fact.
When the government pays people not to work, that means fewer people producing fewer goods. And that means a poorer society. More government spending won't change this fact.
The risk of government expropriation of private property remained low, and Botswana rejected antiwhite reformist politics which destroyed capital in many other countries in the region. Economic success has been a result.
The ECB wants more price inflation, so it has unveiled a new plan to use new, radical monetary tools. It's all very similar to the "old" plan. Except the new plan is even worse.
In 1819 America, nobody blamed the effects for the Panic of 1819, they rightly blamed the cause. They blamed the "friendly central bank."
The goal of the human economy is to gain greater control over the means of satisfying human needs. We start with the most immediate needs, but thanks to saving and investment, we can move onward and upward from there.
With such a messed-up economy, why is it still hard to spot a bust on the horizon?
Menger's contribution is famous beyond Austrian economics, because it was one of the fundamental works of the subjective value theory and of marginal analysis.
We may be told price controls are a temporary necessity, as in 1971 under Nixon. But one thing is certain: price controls will do nothing to resolve the issues underlying the inflation.
The Canadian government promises to make healthcare available to all. Yet Canadians are forced to endure long and deadly wait times for treatment. And it's getting worse.
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