We are stuck in the middle of the road, far away from full socialism or the unhampered market.On Friday August 2, due to a disappointing jobs report, there was a large sell off on the stock market. After understanding Austrian Business Cycle Theory (ABCT) and the structural fragility the Federal Reserve creates in the production structure, my temptation upon seeing such a large swing in the market is to say, “Finally, I am vindicated! The boom-bust cycle has shown itself once more and we are now entering the bust.” Of course, as Mises has shown, praxeological theories are not proven or disproven by empirical facts. Echoing Hoppe, experience cannot beat logic.Per Investopedia,The Nasdaq Composite and S&P 500 fell 2.4% and 1.8%, respectively, while the Dow Jones Industrial Average slid 1.5%.

It is the right of the consumer, not the regime, to determine what lighting sources work best for them.

Original Article: "Shedding Light on the Law of Unintended Consequences"

The US Department of Energy has recently announced two new rules banning the manufacture of incandescent light bulbs starting in July 2022 and phasing in standards across industries over the following months. The Biden administration claims that this ban is a cost-saving measure that will “save consumers about $3 billion annually when fully implemented.” However, the net impact of this policy is unclear since the substitution of incandescents for LED lights comes with notable negative effects such as impaired sleep and consequently impaired productivity.
As the great economic columnist of the twentieth century Henry Hazlitt wrote, we must not look merely at the direct effects but also the indirect effects of a given policy change or individual choice.
It is worth mentioning that in 2020