When socialists held up Venezuela in the 2000s, the message was, ‘See, we told you so; socialism works!’ but when failure happened, the message changed to, “No, wait — that’s not real socialism!’
Central Banks now have an alphabet soup of policy tools. But it's all radlly just more of the same — that is, inflationary easy-money monetary policy.
A new banking crisis is not only in the making, for which the repo problem serves as an early warning, but it could escalate quite rapidly.
A look at the differences between the Austrian School and the "Law & Economics" tradition, with respect to product safety regulation.
The so-called Founding Fathers used small-scale tax rebellions to justify their counter-revolution against the spirit of 1776, thus launching the big-tax, big-government Constitutional Convention of 1787.
The repo crisis — and it is a crisis — is telling us that liquidity providers are aware that the price of money, the assets used as collateral and the borrowers’ ability to repay are all artificially manipulated.
Many conservatives seem to believe that America has been taken over by hard-core libertarians, with the result being a dystopian plutocracy. The answer, they tell us, lies in high taxes and more government power. They're wrong about both the diagnosis and the cure.
Assuming that some groups of foragers indeed practiced "primitive communism," they would have died out because they had lost the fierce competition with the more economically viable "libertarian" tribes. Communism has never appeared spontaneously and "naturally" in the history of mankind.
Supporters of the universal basic income claim it ends dependence on markets, bosses, family, and bureaucrats. But it doesn't eliminate dependence. It only transfers dependence to the central state.
In the midst of moral and intellectual decay, Roepke was an inflexible harbinger of the return to reason, honesty and sound political practice.
