Category Archive: 6b) Austrian Economics

Throughout my life, a specter developed by the state has been used to haunt and cajole the world’s politics to favor centralized technocracy. I remember it first being called “global warming,” complete with apocalyptic prognostications meant to occur by specific years. Sometime after those predictions failed to materialize, it was rebranded as “climate change,” and the technocratic class’s predictions became more ethereal and vague. The craze made...

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Americans live in a complex world. That has made those who argue for ever-growing statism to often claim that “the more complex the society, the more government control we need.” One major reason is that this claim allows them to assert that even if liberty was appropriate in a long-past, simple “horse and buggy” age (as when America began as a country), it cannot possibly be so now. When I hear such an assertion, the first thing I think of is...

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Last week, Senator Joe Manchin (D-WV) announced he would not seek reelection in 2024. In a Wall Street Journal op-ed, Manchin explained his reasons for leaving. He starts with a relatively noncontroversial assessment of the problems facing America—rising costs, dangerous drugs crossing the border, a large national debt, unsafe communities, and foreign wars that threaten to pull the United States in. After some platitudes about these not being...

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The United States regime has picked sides in the Israel-Hamas war and has committed to funding Israel's ongoing bombing of non-combatant men, women, and children in the Gaza strip. Northern Gaza's infrastructure is now all but destroyed, with millions of Gazans displaced and homeless. Nearly ten times more Gazans than Israelis have now died in the conflict. Many Gazans have fled to the southern portion of Gaza, but homelessness and abject poverty...

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The TSA has been promising to end its boneheaded ways for more than 20 years. Flying out of Dallas International Airport last week, I ruefully recognized that all TSA reform promises are malarkey. As I neared the end of a TSA checkpoint line, I saw two women loitering behind a roped off section for CLEAR, a new biometric surveillance program that works with 35 airports and coordinates with TSA. CLEAR involves travelers standing in photo kiosks that...

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We hear plenty about threats to American democracy: Donald Trump’s a threat, the Republican party is a threat, and any number of other people or political parties are threats. Now it’s ExxonMobil’s purchase of Pioneer Natural Resources. Jeff D. Colgan, a professor of political science and the director of the Climate Solutions Lab at Brown University, wrote in an easily missed piece entitled “Exxon Mobil’s Pioneer Acquisition Is a Direct Threat to...

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The recurring cycle of economic booms followed by inevitable busts has remained a puzzle for generations of observers. While mainstream Keynesian and monetarist theories propose monetary interventions to smooth these fluctuations, the Austrian School offers a compelling and alternative perspective. Austrian business cycle theory provides a profound understanding of how artificially inflated booms sow the seeds of their own destruction. Delving into...

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