Do huge wealth redistribution schemes like Biden's new plan actually make people better off? Some people will get a net benefit. How how numerous are they? How many millions will take a net loss? The government has no idea.
Key methodological differences between Austrians were highlighted in Milton Friedman's "The Methodology of Positive Economics." A key piece of conflict: Friedman's focus on prediction rather than explanation.
The ideas of critical race theory and critical white studies shield a ruling elite from vengeance by attempting to make the mass of white people the scapegoat for their own crimes.
Local nullification offers a practical guide to resisting tyranny in a way that reflects the real wishes of local community members against the ivory-tower mentality of their government “representatives.”
If today they come for the smoker, tomorrow they will come for you. Neo-Prohibitionism has been long on the march.
People must still compete for resources in a socialist economy. In fact, the competition is intense. On the other hand, thanks to markets, basic necessities—and even basic luxuries—are now more more accessible than ever.
What matters for real economics is real savings, not increases in consumer spending driven by money printing. The best way to get an increase in savings is to decrease both money pumping and government spending.
The impossibility theorem, developed by Nobel-winning economist Robert Mundell, paints a false tradeoff between the free movement of capital, fixed exchange rates, and effective monetary policy. Under a gold standard, all three are a possibility.
Now that Cuban president Raul Castro has resigned the presidency of Cuba, will the US government lift its six-decade economic embargo against Cuba? Don't bet on it.
The nationalists at the Constitutional Convention had so far carried the substance of their program: the creation of a supreme national government and a Congress empowered to veto state laws whenever Congress thought the states "incompetent."
