Category Archive: 6b) Austrian Economics

Most cartels and trusts would never have been set up had not the governments created the necessary conditions by protectionist measures. Manufacturing and commercial monopolies owe their origin not to a tendency immanent in capitalist economy but to governmental interventionist policy directed against free trade and laisser-faire. —Ludwig von Mises, Socialism The concept of natural monopolies has often intrigued economists and policymakers, serving...

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July 4 is approaching, and many Americans are excited to celebrate their so-called independence. Why? How will this July 4 be any different from that of 2020? Haven’t the past three years revealed that Americans not only take liberty for granted but readily reject it? Is it not the least bit curious that some, if not most, of those who’ll be setting off fireworks also begged to be locked down and masked? Yes, the frauds that are “public health” and...

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Allow me to explain why we have not seen a recession yet despite the collapse in base money supply. We are witnessing the stealth nationalization of the economy. What does this mean? The entire burden of the monetary collapse and rate hikes is falling on the shoulders of families and small businesses, while large corporations and governments are virtually unaffected. Thus, when an agent like the state, which weighs 40 to 60 percent of GDP in most...

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The Ukraine war raises issues of the legitimacy and usefulness of the “rules-based” international order (RBO) that supposedly governs international relations. The United States and the North Atlantic Treaty Organization (NATO) have strongly condemned Russia’s invasion of Ukraine and its violation of international law and rules, and the US is also concerned about the economic and military rise of China and its alleged intentions to reshape the RBO....

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The Political Economy of Distributism: Property, Liberty, and the Common Goodby Alexander William SalterCatholic University of America Press, 2023; xiii + 238 pp. Distributism attracted considerable attention during the 1920s and ’30s among people who wished to apply Catholic social teaching to the modern capitalist economy, and it has recently had a revival. The appearance of The Political Economy of Distributism is particularly welcome for those...

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Jamaica is at a critical juncture in its history, and the world is watching. Long seen as a powerhouse in the developing world, Jamaica is on track to become a republic. Like in the 1950s and ’60s, decolonization is brewing, so Britain’s ex-colonies want to sever ties with their former overlord. Jamaica has therefore established a constitutional reform committee to fast-track the process of becoming a republic. As a political process,...

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Every day, Americans feels the costs of the political capture of the economy. Inflation, taxes, and regulatory costs hit our paychecks and savings. The regulatory capture of medical industries, food and energy production, and the various instruments of Big Tech empower the regime with new tools to promote their latest ideological cause. The ever-growing burden of government debt has become a crisis without any political will to address it. This...

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It is as if the average human assumes that a coercive governance must be established or assigned despite the fact that such a government is often not very efficient or even involved in the outcomes we ultimately want, peace and prosperity. —Walter Block and Stefan Sløk-Madsen, “Who Should Own the North Pole?“ In many oil-producing countries, governments own the resource (namely, oil) that they’re extracting. Whether this is a favorable state of...

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