While giddy socialists are proclaiming that Zohran Mamdani’s electoral victory is the beginning of a socialist takeover of the US, the Democratic Socialists of America have a long way before they can complete their stated mission.
If the voting taxpayers (those who actually pay the bills) are outnumbered or outcompeted by the tax receivers, then national bankruptcy is the most likely outcome.
Much of mainstream economics holds to the Efficient Market Hypothesis (EMH), which is built on highly unrealistic foundations. The Austrian causal-realist approach has more explanatory power.
The justices that Trump appointed to the Supreme Court have shown a recent intolerance for the kinds of semantic leaps his administration is relying on to justify its tariffs. Will they remain consistent or fall in line behind the president?
Although minarchists claim to support a “limited” state, the question is, “How limited?” As we already know, even so-called limited states always grow beyond their original boundaries. And then they keep on growing.
In the wake of the bloody French Revolution and the Napoleonic Wars, Germaine de Staël kept the ideas of freedom alive at her family chateau on Lake Geneva, meeting with luminaries such as Jean Baptiste Say and other great thinkers of that era.
The “greedflation” commentators are at it again, claiming that corporate profits are driving inflation. That is a logical impossibility.
For the past 30 years, the US economy has bounced from one asset bubble to another. The recent Tricolor Holdings and First Brands bankruptcies are just another example of an economy being pumped up by the Federal Reserve.
Once we look past the Fed’s excuses, it’s likely we're witnessing the Fed give up on its two-percent target in real time.
Professor Jesús Huerta de Soto gives his acceptance speech of Argentina’s Order of May for Merit Award this year in Buenos Aires, Argentina.
