In wartime, politicians frequently attempt to claim that all the citizens of foreign states are guilty of all the crimes their regimes commit. This is a modern invention, and a barbaric one.
The money supply is on a long and fast downward trajectory. This points toward recession and is just one more indicator of economic weakness in addition to negative GDP and an inverted yield curve.
Standard neoclassical definitions of money call it a means of exchange and a store of value. But is this correct?
The current bout of inflation is the latest disaster in a string of disasters caused by government debasement of once sound money.
Fortunately, the world is composed of many separate states, which enables "disobedient" residents in one state to escape to others, and fleeing conscription is merely an act of self-defense.
Recovery is genuine only when it reaches the masses of individuals. And recovery comes only from the actions of individuals acting in a free market.
President Biden's recent student loan forgiveness initiative only exacerbates the real problem: the cost of a college education, thanks to government intervention, is outrageously high.
Barack Obama promised to "end child hunger" by 2015. Michelle Obama promised to end childhood obesity. Unfortunately, both increased in large part because of the Obama programs. Today, President Biden will declare war on "hunger in America." Stay tuned.
Economics is based on human action as purposeful behavior. This means when people act, they try to achieve something. It does not mean that they are always accurate or do the “right thing."
Standard economic theory states that as an economy grows, the money supply should grow with it. Appealing to the Austrian tradition, Frank Shostak shows that belief is mistaken.
