Austrian economists do not have crystal balls, but Austrian business cycle theory provides a sure foundation for identifying looming economic crises and exacerbating factors, even if the precise timing of a downturn cannot be known.
Although the money supply has greatly increased, accompanying growth in production has made it possible to keep the current system of immense debt increase going for a long time.
The current bust has been made worse by previous periods of easy money, which destroyed the wealth creation that is critical to sustaining a growing economy.
Politicians and media have combined with an obedient and frightened electorate to abolish civil liberties and destroy the markets that are so key to fighting poverty.
Human beings do not exist to be pawns in a game of lockdowns and collective action.
Proponents of mandatory vaccines and enhanced surveillance are trying to blackmail the American people by arguing that the lockdown cannot end unless we create a healthcare surveillance state and make vaccination mandatory.
If we're serious about increasing the capacity of our medical institutions, free trade and deregulation offer real solutions.
Debt-ridden countries such as Italy will come to rely more and more on Germans and other northern Europeans to finance their debt. This will require a more unified Europe. Or the whole thing may collapse.
Thomas Kuhn influenced Rothbard by demolishing the notion that the history of science is one of continual progress. The truth is that once a paradigm becomes established, its basic tenets are not questioned at all until major problems crop up.
As the federal government embarks on racking up an estimated $3.7 trillion in extra debt this fiscal year alone, it’s critical for the public to understand just how destructive such action will be.
