On this day 106 years ago, the warring parties of World War I agreed to an armistice, ending more than four years of slaughter in the trenches. As Ludwig von Mises recalled, governments also slaughtered their own currencies to pay for the bloodshed.
Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.
Most economists are political apologists masquerading as economists. They are Rothbard’s “court historians” with degrees in economics instead of history.
Historical revisionism is nothing new, and recent attempts to label an “antiracist” approach to history have wrongly been called “revisionist.” To better understand revisionism, one must first be grounded in reality, then apply reality-based thought to studying the past.
While most of us know George Orwell as an authoritative critic of totalitarianism, few people know he was a committed socialist and a lifelong defender of communist Leon Trotsky. While he understood totalitarianism, he never understood socialism.
The Fed wants independence so it can serve the interests of the banker class. There is no higher principle here. There is only power.
Congress ought to at least teach Powell, the Fed, and its banker friends a few much-needed lessons.
Bob explains how future inflow of extraterrestrial riches could boost the standard of living on Earth in the near term.
Wage differences between men and women often are automatically attributed to sex discrimination against women. However, as research has shown time and again, other factors are at work.
Buchanan and Tullock‘s The Calculus of Consent influentially applies economic ideas to politics, focusing on methodological individual. However, there are a few pitfalls about which readers should be aware.
