Category Archive: 6b) Austrian Economics

On July 30, Yellow, one of the oldest and largest trucking businesses in the United States, ceased operations and moved to declare bankruptcy. According to reports, the final nail in the coffin of the ninety-nine-year-old business was a labor dispute with the Teamsters Union. Yellow’s executives also deserve some blame, however. The trucking networks acquired in the 2000s and 2010s were poorly managed, delaying their integration. That said, when...

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Economic exchange stands as the defining essence of any economy, epitomizing the intricate web of interconnected transactions that shape its very existence. In essence, an economy derives its essence from the culmination of individual exchanges. However, the profound impact of the crucial distinction between voluntary choice and coercion often goes unnoticed by many outside the realm of economic study. In this article, we delve deeper into the...

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The state is, first and foremost, an institution whose overarching goal is the forcible subjugation of all the people who inhabit a given territory. However, what makes the state different from other coercive entities, such as organized crime groups, is that it enjoys some form of popular legitimacy. In other words, in addition to enslaving its inhabitants physically, it needs to secure their mental servitude as well. Many forms of such servitude...

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Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.1– NASSIM TALEB The crypto-unit bitcoin2 holds out the prospect of something revolutionary: money created in the free market, money the production and use of which the state has no access to. The transactions carried out with it are anonymous; outsiders do not know who paid and who received the payment. It would be money that cannot be...

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The acronym 2SLGBTQ+IA stands for two-spirit, lesbian, gay, bisexual, transgender, queer, questioning, intersex, androgynous, and asexual. The 2SLGBTQ+IA community is often described as seeking “rights and equality” for its members. What fair-minded person could object? Increasingly, however, the community appears to want privileges and equity as well. These goals are diametrically opposed. Rights, such as freedom of speech, are universal and...

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Many of us seek products and services from sellers with goods of the best quality and relatively lower prices. Sellers seek the highest prices for selling the least amount of goods. Sellers compete for customers but would much rather be the only seller in the marketplace or market space. Furthermore, consumers want more for themselves and less for other consumers. This depiction of market behavior is normal and may seem chaotic to some who view the...

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In recent years, blockchain surveillance (BS) companies have become increasingly important players in the cryptocurrency industry. Their business model consists in developing proprietary software that collects and interprets public data available on public blockchains and in selling their services to governments, banks, exchanges, and others that need access to this data. Usually, governments are interested in collecting information about financial...

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