Most economists subscribe to a belief in “positive economics,” which means that economic theory flows from economic data. Thus, all theory can be tested for falsification at any time. Austrian economics, however, begins with economic theory, which is used to interpret the real world.
Each economic crisis brought on by loose money brings on a “solution” of...looser money. This pattern is not just a threat to the economy but to our very freedom itself.
The US is not the only country with a broken air traffic control system due to state control. India's system also is in a statist mess. The solution is to get government out of the business of ATC.
As an official Public Policy Hooligan, James Bovard is well-known for some of his zingers. Here are some he wrote in 2025.
The standard explanation for the Constitutional Convention was that the Articles of Confederation were a failure. However, the Articles actually worked the way they were supposed to work. Unfortunately, the advocates of a strong central government ultimately got their way.
The Fed is cutting its discount rate again, but Americans will be disappointed with the results, as the Fed’s latest action only contributes to the boom-and-bust cycle.
In this week’s Friday Philosophy, Dr. David Gordon reviews Crispin Sartwell’s Against the State: An Introduction to Anarchist Political Theory and finds much to like.
Anti-impact environmentalists want you dead; they will settle, in the short term, for you to feel guilty for existing, producing and consuming, and willing to comply with any degree of central planning and freedom curtailment to “save the planet” from you.
"Since we were not able to have a new economic era in reality, we insisted on having it in appearance. So we raised nominal wages and incomes; but we paid them in a fictitious money..."
With American intervention in Venezuela, some are claiming that the Trump administration is simply invoking the Monroe Doctrine, or its corollary, the “Donroe” Doctrine. In reality, neither doctrine is an appropriate reason for US military intervention in Latin America.
