Without freedom in ideas and the profit motive, entrepreneurs will be unable and unwilling to spread the benefits of science across the globe, and countless advances will be doomed to obscurity, when they could be used to improve human life.
Historically, reserve currencies have arisen without the help of the IMF, but we’re now witnessing a situation in which the IMF may declare the Chinese yuan a “reserve currency” as part of a larger game by global elites to manipulate global exchange rates.
UPDATE: The fact that marijuana legalization ballot measure (Issue #3) failed in Ohio is not an indication that legalization is not supported by the people. It was because they rejected government monopoly of pot growing as shown in the victory in the passage of Issue #2 which bans such monopolies. Its a great libertarian victory overall.
In a global perspective, there is no clear relationship between obesity and wealth.
Without markets, there is no way to manage scarce resources, and this includes natural resources like forests. Only markets can provide the sort of balanced long-term planning necessary to both utilize and preserve natural resources.
In Toronto this weekend, Mises Canada will be hosting its fourth International Conference of Prices & Markets.
Matt Zwolinski, a philosopher at the University of San Diego, claimed on the Tom Woods show that libertarians should support a basic income guarantee. Woods countered his arguments.
The Fed's Federal Open Market Committee renewed its commitment to easy money this week. The Fed will pretend to be committed to raising rates while doing nothing, and its ongoing war against deflation will continue to make us poorer.
Thanks to enterprising Peruvians who ignore the regulatory state, Peru continues to see growth in the standards of living of its citizens. Unfortunately, the global elites behind the World Bank are determined to regulate and "modernize" Peru until this entrepreneurial spirit is destroyed.
The fundamental divide between Austrian economics and the mainstream is apparent on the first page of many textbooks, in which the authors simply define economics.
