We're being told to blame the current market volatility and emerging crisis on oil prices, China, and a "strong dollar." To find the real causes, though, we must look at central banks and at past mistakes and malinvestments.
In our efforts to soak the present rich we have been soaking the future poor.
Fear is in the air. Central bankers are warning of crisis, and while mainstream economists fear the falling prices that are on the horizon in our post-boom world, Austrians know that deflation and recessions are both inevitable and necessary.
Ludwig von Mises reminds us that thanks to the rise of markets and capitalism, human beings gained more access to more abundance than ever before. And it is the consumers, not the producers, who have power over the market process.
Although many analysts are and have been calling for a bottom in oil prices, there are three key reasons why oil can continue to fall substantially further from current levels near $30 per barrel.
On the eve of the World Economic Forum in Switzerland, William White, chairman of the Economic Development and Review Committee of the OECD and former chief economist of the Bank for International Settlements, delivered a dire warning concerning an impending meltdown of the global financial system.
The new trend among famous economists is pointing out the times they changed their views in light of new empirical findings. Far from defending economics as a science and a profession, this trend actually reveals the unscientific and ideological nature of mainstream economics.
Writing for Entrepreneur, Dr. Per Bylund outlines "3 Ways the Sharing Economy Changes Entrepreneurial Opportunity."
