Why “Majority Rule” Doesn’t Work
Even if whole regions of the country vote overwhelmingly against a president, they are still forced to submit to four years of that president’s rule-by-decree.
Even if whole regions of the country vote overwhelmingly against a president, they are still forced to submit to four years of that president’s rule-by-decree.
The original Mont Pelerin Society meeting in 1947 featured Ludwig von Mises, whose warnings about the dangers of socialism and totalitarianism had gone unheeded. In the wreckage of World War II, the truth of his message should have been obvious. It wasn't.
Even though DEI (Diversity, Equity, and Inclusion) has been taking a beating with some state legislatures, it still has a corrupting influence, especially in higher education. As Murray Rothbard pointed out, egalitarians are “at war with nature.”
Modern American culture is statist to the core. The typical school curriculum tells students that capitalism is evil and socialism is good. This only gets worse in college.
On this day 106 years ago, the warring parties of World War I agreed to an armistice, ending more than four years of slaughter in the trenches. As Ludwig von Mises recalled, governments also slaughtered their own currencies to pay for the bloodshed.
Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.
Most economists are political apologists masquerading as economists. They are Rothbard’s “court historians” with degrees in economics instead of history.
Historical revisionism is nothing new, and recent attempts to label an “antiracist” approach to history have wrongly been called “revisionist.” To better understand revisionism, one must first be grounded in reality, then apply reality-based thought to studying the past.
While most of us know George Orwell as an authoritative critic of totalitarianism, few people know he was a committed socialist and a lifelong defender of communist Leon Trotsky. While he understood totalitarianism, he never understood socialism.
The Fed wants independence so it can serve the interests of the banker class. There is no higher principle here. There is only power.