Category Archive: 6b) Austrian Economics

When assailing global governance, pundits rarely comment on its impact on small countries. Yet the degree to which small countries are ignored by global institutions—like the G7, the International Monetary Fund, and the World Bank—helps to illustrate how institutions of global governance tend to primarily reflect the values of managerial elites from large and wealthy states.

Read More »

Some commentators attribute the latest sharp increase in the Consumer Price Index to businesses pushing prices of goods higher in order to secure higher profits. (See the New York Times article “Democrats Blast Corporate Profits as Inflation Surges,” January 3, 2022). Note that the yearly growth rate of the Consumer Price Index jumped to 6.8 percent in November 2021 from 1.2 percent the year before.

Read More »

During a confirmation hearing with the US Senate this week, Fed chairman Jerome Powell was asked about whether or not a digital currency issued by a central bank could exist side by side with private cryptocurrencies. Powell responded that there is nothing that would prevent private cryptos from “coexisting” with a “digital dollar.”

Read More »

During the 1920s, the emerging individualists and libertarians — the Menckens, the Nocks, the Villards, and their followers — were generally considered Men of the Left; like the Left generally, they bitterly opposed the emergence of Big Government in twentieth-century America, a government allied with Big Business in a network of special privilege, a government dictating the personal drinking habits of the citizenry and repressing civil liberties,...

Read More »

In the incessant media discussion about whether inflation is transitory there is a big elephant in the room about which all are silent. Perhaps strangely some do not see it. Others for whatever reason pretend it is not there. The elephant is the fantastic surge in US corporate profits that monetary inflation has fueled during the second year of the pandemic.

Read More »