Category Archive: 6b) Austrian Economics

Contemporary businesses use artificial intelligence (AI) tools to assist with operations and compete in the marketplace. AI enables firms and entrepreneurs to make data-driven decisions and to quicken the data-gathering process. When creating strategy, buying, selling, and increasing marketplace discovery, firms need to ask: What is better, artificial or human intelligence?

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No good deed goes unpunished claims the old proverb, and twenty-four-year-old YouTuber Jimmy Donaldson’s recent charity act of helping one thousand blind people see again has the world divided on the moral circumstances surrounding his private charity. Some would go so far as calling his benevolence a “stunt.” They are utterly wrong, and understanding his reasoning and motives behind the charity acts should negate any critique. A Successful, Yet...

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With all due respect to Niall Ferguson, whom I've heard of, and Huw van Steenis, whom I've not, this tweet is quite preposterous.  I've personally met more than five people who understand money just in my own circles. What they mean is “monetary policy,” which is in fact very difficult to understand—given it effectively operates as a political program within the muddled field of macroeconomics. Monetary policy, unlike money per se, is ad hoc,...

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The Global Currency Plot: How the Deep State Will Betray Your Freedom, and How to Prevent Itby Thorsten PolleitLudwig von Mises Institute, 2023; 190 pp. Thorsten Polleit’s outstanding new book is packed with insights about both the philosophy of economics and economic policy, and as he shows, his philosophical standpoint enables him to grasp the essence of the financial world, of which he is a master. Polleit is a follower of Ludwig von Mises,...

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In her article “Multinationals Make Obscene Profits Out of Global Crises—Tax Them to Defend Human Rights,” Magdalena Sepúlveda called for more taxation of multinational corporations and the rich as a means to finance policies that are aimed at protecting the most vulnerable from what she calls “the cost of living crisis.” In this piece, I would like to respond to Sepúlveda by saying that taxation is theft and any attempt at justifying taxation,...

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As former Federal Trade Commission (FTC) chairman Timothy J. Muris has recently noted, “President Biden rejects the economics-driven antitrust policies of the past 40 years.” In contrast, President Joe Biden “promised to return to earlier antitrust traditions.” Unfortunately, “those traditions were abandoned for good reason: they harmed consumers.”

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Since 2014, the tiny country of Yemen has been devastated by the ongoing civil war following the Houthi takeover of the government. It only worsened in March 2015, when President Barack Obama began to aid the Saudi Arabians in the war effort. As of February 2022, over 370,000 people have lost their lives due to the lack of food, the lack of medical necessities, and the bombings from the war. Despite the severity of the war, the press has covered...

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