Unlike the Versailles peace, which failed horribly, the successful episodes of peacemaking — Westphalia, Vienna, and even the process that ended World War II — had in common extended multi-lateral negotiations and compromise.
There is a field where Austrians are being heard and where Austrian theory is tremendously influential, and that field is dynamic entrepreneurial capitalism.
Given that Fed policymakers are of the view that a decline in the annual growth of prices is bad for the economy they are most likely to embark on very easy monetary policy in near future.
If one is concerned about Briarwood’s new private police force, one also ought to be hysterical over pretty much any police force in the United States. But the state seems to get a pass in areas where non-state entities are treated with suspicion.
The Federal government is not going to stop state and local police from stealing the property of innocent people.
Libra's value is based on a basket of goods tied to government fiat currencies. Needless to say, Zuckerberg is no Hayek. And the Libra is no Bitcoin.
The Versailles treaty was in many ways an extension of the imperialistic impulses that caused the Great War in the first place. Even worse, it paved the way for World War II.
A business owner who cannot understand why a customer is not happy — or even very disappointed — with getting a full refund for a faulty product has failed to grasp some very fundamental economic concepts.
Being held accountabile in the real world usually means making reparations for incompetence or malice. But this sort of accountability almost never applies to governments.
There is reason to believe low-interest rate policy has lowered productivity, lessened economic growth, and favored large firms at the expense of small firms and innovation. Greater inequality and stagnating wealth has resulted.
