Category Archive: 6b) Austrian Economics

Government Land Ownership and Management

Recorded at the Mises Institute in Auburn, Alabama, on July 21, 2021.

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Biden’s Rescue Act Targets Americans’ Freedoms

Since the 1800s, surly Americans have derided politicians for spending tax dollars “like drunken sailors.” Until recently, that was considered a grave character fault. But Joe Biden’s American Rescue Plan Act shows that inebriated spending is now the path to national salvation.

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A Dark Side of Inflation

When the Federal Reserve inflates the money supply, the resulting debasement of people’s money is reflected in the higher prices that people are paying for things they need or want. Already, everyone is seeing, for example, significantly higher prices for gasoline at the pump. The price jump is high enough to cause people to realize that all that “free” stimulus money wasn’t as free as the government said it was. 

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The far-reaching implications of the amateur trading wave

Part II of II by Claudio Grass, Hünenberg See, Switzerland Case in point: Silver “apes”  One of the most astounding elements of this shift in retail investing is the proof it offers for what many of us knew along: When people can freely and directly vote with their wallets and put their money where their mouth is, one gets a much clearer picture of what the public, the market or any other large group really thinks and really wants. In...

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The far-reaching implications of the amateur trading wave

2020 certainly was a year of a lot of “firsts”, most them extremely destructive to the economy, to our societies and to our everyday lives. However, there were a few positive developments too, among them being the fact that it was the year that ordinary people discovered and entered financial markets. 

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Secession and the Production of Defense

[unable to retrieve full-text content][Chapter 11 of The Myth of National Defense: Essays on the Theory and History of Security Production, edited by Hans-Hermann Hoppe (Auburn, Ala.: Mises Institute, 2003), pp. 369–413.] Few people object to the private production of shoes or rock concerts.

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Freedom Is Not Free You Have To Fight For It, The People Will Demand Decentralization

Claudio begins his discussion with him taking a trip from Switzerland to Spain. On his travels he realized that the borders are open for cars and people were not asked for proof of vaccination. The people will begin to come together when they cannot function in everyday life because of inflation. People will look for decentralization because the globalist system does not work for the people.  Freedom is not free you have to fight for it.

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Economy, Society, and History

In June 2004, Professor Hoppe visited the Mises Institute in Auburn to deliver an ambitious series of lectures titled Economy, Society, and History. Over ten lectures, one each morning and afternoon for a week, Dr. Hoppe presented nothing short of a sweeping historical narrative and vision for a society rooted in markets and property.

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European Unification as the New Frontier of Collectivism: The Case for Competitive Federalism and Polycentric Law

Frankfurt, Bremen, Hamburg, Luebeck are large and brilliant, and their impact on the prosperity of Germany is incalculable. Yet, would they remain what they are if they were to lose their independence and be incorporated?”— Johann Wolfgang von Goethe1

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Forced Vaccinations in France Bring Both Repression and Protest

In a speech to the nation just ahead of Bastille Day on July 14 celebrating the French Revolution, President Emmanuel Macron delivered a paradoxical blow to the Republic’s famous slogan: Liberté, égalité, fraternité. He announced a series of measures to speed up the pace of covid-19 vaccinations which undermine individual liberties and threaten a strong political and economic backlash.

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Portrait of an Evil Man: Karl Marx

In the "German Democratic Republic" they tell the story about a weary old man who tries to gain entrance into the Red Paradise. A Communist Archangel holds him up at the gate and severely cross-questions him.

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Fiat Money Economies Are Built on Lies

Now and then, it pays to take a step back to get a broader perspective on things, to look beyond the daily financial news, to see through the short-term ups and downs in the market to find out what is really at the heart of the matter. If we do that, we will not miss the fact that we are living in the age of fiat currencies, a world in which basically everything bears their fingerprints: the economic and financial system, politics—even people’s...

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Paying People Not to Work Won’t Make Us Richer

One of the most important principles of economics is that people respond to incentives. You get more of whatever you incentivize. You get less of whatever you disincentivize. This is irrefutable. The supplemental unemployment payment does both—it incentivizes people not to work, and simultaneously disincentivizes them from working.

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The Critical Race Theory Controversy

Conservatives and progressives are at it again. They are attacking each other big time over whether Critical Race Theory should be taught in secondary schools and colleges and universities. The fundraising appeals are flying, as each side exhorts people to send in their donations to support whichever side is sending out the fundraising appeal.

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What Is the Purpose of the Economy? Carl Menger Explains.

This second part of the series about the Principles of Economics treats Menger’s exposition of the economy. In continuation of the first part, which covered the general concept of goods, the part on the economy treats the role of economic goods in relation to human wants.

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Review: Sohrab Ahmari’s New Attack on Laissez-Faire Liberalism

Sohrab Ahmari’s new book The Unbroken Thread: Discovering the Wisdom of Tradition in An Age of Chaos is so disappointing I don’t know where to begin. This may seem to be a harsh invective, but in reality, it is a confession. My previous attempts to review this book have resulted in little more than hours and hours of frustration and discarded drafts.

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Cryptocurrencies and China Imperil the Reserve Currency Status of the US Dollar

In his book Denationalisation of Money, F.A. Hayek argued that governments have never devoted their power to providing proper money over time. They “have refrained from grossly abusing it only when they were under such a discipline as the gold standard imposed.”

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The Phillips Curve Myth

According to a popular way of thinking, the central bank can influence the rate of economic expansion by means of monetary policy. It is also held that this influence carries a price, which manifests itself in terms of inflation.

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Keynes Said Inflation Fixed the Problems of Sticky Wages. He Was Wrong.

Britain’s economy had been suffering chronic unemployment for a decade prior to 1936. Economic theory as it was then understood clearly showed that the cause of a market surplus was sellers asking a price in excess of what buyers are willing to pay.

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Money Supply Growth Dropped in May to a 15-Month Low

Money supply growth slowed again in May, falling for the third month in a row, and to a 15-month low. That is,  money supply growth in the US has come down from its unprecedented levels, and if the current trend continues will be returning to more "normal" levels.

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