When people speak of “old school economics,” they generally mean the application of economic thinking that involves what we might call “common sense.” That would include permitting a price system to work, protecting private property, and so on. But there is more.
While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was compatible with the rule of law. Ludwig von Mises, however, knew that the welfare state is the ubiquitous slippery slope.
The Ukraine war rages on and while the media and political classes repeat the “Putin started it” mantra, the evidence points elsewhere. The US government and its European allies have provoked Russia for years, hoping it would lead to an outbreak of war.
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Aaron Sobczak of the Quincy Institute for Responsible Statecraft.
What does ChatGPT know about money? More than one might think. George Ford Smith asks the AI program some questions about money and gets some surprising answers.
Governing elites believe that the fiat money system is the height of “sophisticated” finance. In reality, fiat money sucks the life out of the economy like a vampire.
The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China's debt — over $50 trillion — has grown to the point it can't afford it.
The US Government is no stranger to scamming citizens but the latest financial hustle being proposed, a sovereign wealth fund, is a flim-flam on steroids. It needs to be put out of its misery before it makes the rest of us miserable.
Many “mainstream” economists are bothered by the popularity of economically-flawed policy proposals like tariffs and price controls. It’s their own fault.
Lowering rates is a tool to rescue the government. If you make it easy for governments to borrow, they will gladly do it and continue printing currency.
