Category Archive: 6b) Austrian Economics

Why do individuals pay higher prices for some goods than others? The common reply references laws of supply and demand, but what are these laws? The answer is found in the law of diminishing marginal utility. Most economists explain this law by describing the satisfaction one derives from consuming a good such as an ice cream cone. The satisfaction derived from consuming a second cone might be less than the satisfaction derived from the first cone,...

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These are trying times. The war party seems stronger than ever while the peace movement feels even more scattered.  Make no mistake: D.C. is hungry for war. The neocon plan has always been to defeat Russia using Ukraine as a proxy. It started with Victoria Nuland's Ukrainian coup in 2014. Now that the proxy war has apparently failed, the neocons are in desperation mode—and they do not have a reverse gear. If this seems like a bad dream, you are not...

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Attention Upper Division Undergrads and Grad Students! We realize many of you are just getting the hang of summer and as it warms up, the last thing on your mind is exercising it. But, you will not want to miss we this great opportunity at the end of summer: The Ron Paul Scholars Seminar. The seminar will take place on Friday, September 1 at the Hilton Washington Dulles Airport in Herndon, VA. What is it? The Ron Paul Scholars Seminar is a one-day,...

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As Ukrainian forces continue their much-hyped counteroffensive to take back contested territories in the country’s eastern and southern regions, we’re faced with conflicting coverage of the campaign. Many reports say Ukraine’s forces are struggling to break through the minefields fortifying Russia’s lines. And many admit that even the sudden and dramatic Wagner Group mutiny did not appear to hand Ukraine much of an advantage on the front. Days ago,...

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Keynesian policies are damaging what they were intended to support. No example is more evident than the United States. A few years ago, in 2021, I had a conversation with Judy Shelton where she said that the recovery would be much stronger without the stimulus package, and she was right. Massive government spending and currency printing have left a much weaker labor market and poorer citizens. In June, nonfarm payrolls increased by 209,000, the...

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In his recent address, President Joe Biden claimed that “wind and solar are already significantly cheaper than coal and oil.” This is flat-out wrong. There are many arguments that can be made for Biden’s claim. However, not only can they all be refuted, but they have all already been refuted. Alex Epstein, in his book Fossil Future: Why Global Human Flourishing Requires More Oil, Coal, and Natural Gas—Not Less, explains that two facts are ignored...

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The United States government, which prides itself in being the leading force in defending freedom throughout the world, has a history of putting a muzzle on news organizations and individuals throughout its history. From the early colonial period to the beginnings of the internet, the state has consistently silenced its critics, which seems to be its true nature. The Sedition Act of 1798 Signed into law by the Federalist Party president John Adams...

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On Friday, July 7, 2023, news broke in the financial market media that the “BRICS” (that is, Brazil, Russia, India, China, and South Africa) will implement their plan to create a new international currency for trading and financial transactions, and that this new currency will be “gold-backed”. Most recently, on June 2, 2023, the foreign ministers of the BRICS – as well as representatives from more than 12 countries – met in Cape Town, South...

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It is no surprise to libertarians that what is in the interest of the government might not be in the interest of people in general. More often than not, the government’s interest is directly at odds with the interests of people in general. The countless wars waged by governments throughout history, for which common people paid ultimately with their lies, bear witness to this fact. Wars are also waged on the domestic populations that the government...

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