In a recession or a crisis, the right approach for individuals is to save. So too for the national economy. Saving does not cause the economy to fall into recession any more than more spending can save it from recession.
Bastiat emphasized that much of what goes on in the economy involves things we don’t see directly. Intermediaries often fall into Bastiat’s category of things “not seen.”
Some modern historians claim they are “doing science.” However, Ludwig von Mises in Theory and History decried what he saw as “scientism” instead of real scientific inquiry.
From the perspective of the state, the ideal society is one composed of single parents raising a small number of children in irreligious households.
It is an article of faith in mainstream economics that an economy cannot grow without a growing money supply. Yet, that is a false narrative, as increasing the supply of money over time ultimately sparks inflation and triggers business cycles.
While the NBER collects economic data ostensibly to aid policymakers, the data it acquires is useless without proper economic theory to correctly interpret the numbers.
Remembering Justin Raimondo, who used his antiwar website to rally concerned people against the unjust and destructive wars brought on by the US government.
Equilibrium is an imaginary construct that should be used only for analytical purposes. Unfortunately, mainstream economists have claimed it should represent a desired state of economic affairs. Austrian Economists know better.
Prominent central bankers have given conflicting statements concerning gold. What soaring gold prices might indicate is that the world is now turning to gold.
Thinking clearly about the state requires us to think differently than what is typically believed. The state is not a “necessary evil,” but rather it is just evil.
