Category Archive: 6b) Austrian Economics

"Economics must not be relegated to classrooms and statistical offices and must not be left to esoteric circles. It is the philosophy of human life and action and concerns everybody and everything. It is the pith of civilization and of a man's human existence." —Ludwig von Mises The strength of the Austrian school has always been grounded in its ability to speak clearly about the issues vital to preserving human civilization. While there...

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In 2023, Canada’s parliament passed two significant pieces of legislation, Bills C-11 and C-18, both of which have stirred debates and concerns regarding their potential impact on online freedom and political censorship. Bill C-18, commonly known as the Online News Act, was introduced in the forty-fourth Canadian Parliament and received royal assent on June 22, 2023. This legislation introduces a framework mandating digital news intermediaries,...

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It’s been more than three decades since the Berlin Wall fell and the disintegration of the Soviet Union. At the time, when everyone knew that the time for the “mothership” of socialism had come, China didn’t want to take the Soviet Union’s position but opted for an ambiguous role. In the three decades after the downfall of the Soviet Union, it was clear which country was at the top of the world. Those were the times to which the Beltway wanted to...

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According to the U.S. Treasury, year-end data from September 2023 show that the deficit for the full year 2023 was $1.7 trillion, $320 billion higher than the prior year’s deficit. As a percentage of GDP, the deficit was 6.3%, an increase from 5.4% in FY 2022. This means that the United States will likely post the worst GDP growth excluding debt increases since 1929, or, in other words, that the country is in a recession disguised by bloated...

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The threat of hyperinflation has haunted fiat money economies throughout history. Although past empires crumbled under the weight of unrestrained money printing, modern bankers at the Federal Reserve assure us that today’s financial system is immune to such a fate. Austrian business cycle theory, however, reveals that current economic stimulation may be propelling us toward a crisis of catastrophic proportions: a crack-up boom that marks the...

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Ibram X. Kendi, the controversial author of How to Be an Antiracist, has been revealed as not only a hustler of horrid ideas but also a poor businessman. Kendi was appointed the head and founder of Boston University’s Center for Antiracist Research in 2020 following the aptly named “summer of love,” which saw riots in most major cities over calls for “racial justice.” Now, Boston University is committing mass layoffs of employees, as the Center has...

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As news of the Hamas attack on southern Israel began to trickle in on October 7, many who follow the ongoing Israel-Palestine conflict knew the bad news was just beginning. It was immediately obvious that the ferocity of the Hamas attack, and the high proportion of women and children among the victims, would provide the Israeli state with political justification to launch devastating and revanchist attacks against civilians within the Gaza strip in...

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“The market economy involves peaceful cooperation. It bursts asunder when the citizens turn into warriors and, instead of exchanging commodities and services, fight one another.” So Ludwig von Mises begins a short chapter in Human Action called “The Economics of War.” While brief, the eleven pages (pages 817–28 in the scholar’s edition) are densely packed with Mises’s take on the history of warfare, what leads to total war, how wars are won, the...

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