Category Archive: 6b) Austrian Economics

Staat und Krieg

Aus ökonomischer Sicht lässt sich argumentieren: Der Staat (wie wir ihn heute kennen) ist aggressiv. Kriegerische Auseinandersetzungen zwischen Staaten sind daher auch kein tragischer Zufallsfehler, sie sind vielmehr ein logisches Ergebnis.

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The Biggest Threat to Our Freedom and Well-Being

There are some important things to note about the Constitution and the Bill of Rights. Our rights do not come from the Constitution or the Bill of Rights. As the Declaration of Independence states, our rights come from nature and God, not from the federal government, not from the Constitution, and not from the Bill of Rights.

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Real Wages Fall Again as Inflation Surges and the Fed Plays the Blame Game

According to a new report released Wednesday by the US Bureau of Labor Statistics, the Consumer Price Index increased in March by 8.6 percent, measured year over year (YOY). This is the largest increase in more than forty years. To find a higher rate of CPI inflation, we have to go back to December 1981, when the year-over-year increase was 9.6 percent.

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We Still Haven’t Reached the Inflation Finale

Inflations have an inbuilt mechanism which works to burn them out. Government (including the central bank) can thwart the mechanism if they resort to further monetary injections of sufficient power. Hence inflations can run for a long time and in virulent form. This occurs where the money issuers see net benefit from making new monetary injections even though likely to be less than for the initial one which took so many people by surprise.

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Russia’s “gold peg”: Lessons for Western investors

It is undeniable that the ongoing crisis in Ukraine has polarized Western societies to an extent unseen in decades in any other foreign conflict. For over a month, we have been bombarded unceasingly by all mainstream media sources with reports and stories about Russia’s invasion and this conflict has already created deep social rifts in many other nations, and EU members in particular.

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The Ukraine War Shows Nukes Mean Safety from US-Led Regime Change

Some journalists like Steve Portnoy of CBS seem unable to grasp that escalations that might lead to nuclear war are a bad thing. The journalist seemed incredulous last week when asking White House spokeswoman Jen Psaki why the United States has not started a full-on war with Moscow. Psaki’s position—with which any reasonable person could agree—was that it is not in the interest of Americans “to be in a war with Russia.”

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Heavy Sanctions against Russia Could Usher in a Wider Economic War

Vladimir Putin’s invasion of Ukraine was met with unprecedented economic sanctions by the United States and its allies in order to cripple Russia’s capacity to wage war. Never before in post–World War II history has an economy of Russia’s size been reprimanded with such force. Moreover, the sanctions could remain in place after the war ends and reach other major economies too, in particular China. In this case, current sanctions could be the...

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NATO: Our International Welfare Queens

The states of Europe have more than enough wealth and military potential to deal with a second-rate power like Russia. The American taxpayers, on the other hand, deserve a break from Europe's grifting. Original Article: "NATO: Our International Welfare Queens" This Audio Mises Wire is generously sponsored by Christopher Condon.

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It Was the Lockdowns, Not the Pandemic That Created the Havoc

It may be years before we fully realize the ramifications of the lockdown policies governments around the world have imposed on their citizens in response to covid-19, but evidence of the costs is starting to trickle in. A recent study conducted by the Centers for Disease Control and Prevention (CDC) surveyed thousands of high school students on the effects of the pandemic.

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Do “Inflationary Expectations” Cause Inflation? Contra Krugman, the Answer Is No

In the New York Times article “How High Inflation Will Come Down,” Paul Krugman suggests that the key for future inflation is inflation expectations. Krugman does not think that currently inflation expectations are comparable to the 1980s.

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Hazlitt, Hayek and How the Fed Made Itself into the World’s Biggest Savings & Loan

The Henry Hazlitt Memorial Lecture, March 18, 20221. Many thanks to the Mises Institute and to sponsor Yousif Almoayyed for this opportunity to be with you all today as we consider one of the truly remarkable developments in the history of American central banking, money printing, and credit inflation.

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And Now for a Really Bad Response to Political Calamity: Autarky

The invasion of Ukraine, the spike in inflation and the risks of supply shortages have made some politicians dust off some of the worst economic ideas in history: autarky and protectionism. Some believe that if our nation produced everything we needed we would all be better off because we would not depend on others. The idea comes from a deep lack of understanding of economics.

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Money Supply Growth Heads Back Up: February Growth Up to 7 Percent

Money supply growth rose for the third month in a row in February, continuing ongoing growth from October's twenty-one-month low. Even with February's rise, though, money supply growth remains far below the unprecedented highs experienced during much of the past two years.

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Cantillon effect: Who’s paying the highest price?

Every time we hear government officials announce their big spending plans, their new welfare programs and their ambitious “job creating” schemes, they always present them as being in defense of the poorest and the most marginalized members of our societies. In coordination with their central bankers, they print and spend new money at will, claiming that it is all for the benefit of the weakest among us and that all the freshly created funds will...

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Putin’s Inflation? Homegrown Modern Monetary Theory Is to Blame

Prices of goods and services in the economy seem to be going through the roof, and both consumers and producers suffer from the falling value of their money. Unfortunately, the public turns to politicians in Washington and economists around the world for answers.

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Pointing the Accusatory Finger at Russia

I’m fascinated by the mainstream media’s overwhelming focus on Russia’s war crimes in Ukraine while, at the same time, remaining steadfastly silent about the horrific and disgraceful mistreatment and imminent extradition of Julian Assange to the United States. After all, one of the big reasons that U.S. officials have targeted Assange is his disclosure of war crimes by the U.S. military in Iraq.

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Keith Weiner on the Gold Market and How to Replace Government Paper Money

Keith Weiner is founder and CEO of Monetary Metals, an investment firm that pays interest on gold, and the founder of the Gold Standard Institute USA. Weiner’s mission is to provide entrepreneurial services and education to help restore gold as the world’s money par excellence.

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If Ukraine Joins the EU, It Will Be the Poorest Member by Far

Within days of the beginning of the Russian invasion of Ukraine, the Ukrainian regime applied for membership in the European Union. This is understandable from the perspective of Kyiv. If Ukraine is going to be denied membership in NATO—as increasingly looks to be the case—The Ukraine regime could nonetheless increase its geopolitical connections to the West by joining in the EU.

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European Environmentalists Have Made Energy Independence Impossible

Europe is not going to achieve a competitive energy transition with the current interventionist policies. Europe does not depend on Russian gas due to a coincidence, but because of a chain of mistaken policies: banning nuclear in Germany, prohibiting the development of domestic natural gas resources throughout the European Union, added to a massive and expensive renewable rollout without building a reliable backup.

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No Friendship or Neutrality with Russia

If there is one thing the whole world knows, U.S. officials will not permit anyone to maintain a friendly or even a neutral relationship with respect to Russia and Russian president Vladimir Putin. If some foreign regime doesn’t stand squarely with the United States with respect to the Ukrainian conflict, it is considered an enemy and will likely be hit with a strong case of economic sanctions. Just ask China.

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