Category Archive: 6b) Austrian Economics

Private Security Isn’t Enough: Why America Needs Militias

In late May we learned that, after a five-month deployment to one of the most dangerous cities in the world, the American military would finally be going home. Well, not really. They already were home. The dangerous warzone was the American federal capital, Washington, DC. And the “danger” that the military was supposed to be countering was entirely government made.

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Inflation risk takes center stage – Part II of II

A lot of people might be aware of historical cases of hyperinflation, like that of Hungary and the Weimar Republic, or even contemporary ones, like that of Venezuela. And yet, these are taught or reported like extreme cases, very far removed from the daily experience of most modern Western citizens.

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Decentralization: Why the EU May Be Better than the US

Over the years, I’ve been pretty hard on the European Union. Both as an editor and a writer, I’ve published articles criticizing its central bank and its unelected, bureaucratic central government. Especially objectionable is the EU ruling class’s propensity for cynical politics built around threatening and intimidating voters and national governments who don’t conform to Brussels’ wishes.

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Malta under Pressure

Malta is a compact archipelago in the Mediterranean Sea, 80 km from Sicily, 333 km from Libya and 284 km from Tunisia. It had a long list of rulers, including the Phoenicians, the Byzantines, the Arabs and later the French under Napoleon and finally the British. The island gained independence in 1964, and in 2004 it joined the European Union.

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More Evidence the American Economic “Recovery” Will Disappoint

The University of Michigan consumer confidence index fell to 82.8 in May, from 88.3 in April. More importantly, the current conditions index slumped to 90.8, from 97.2 and the expectations index declined to 77.6, from 82.7. Hard data also questions the strength of the recovery.

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Inflation risk takes center stage – Part I of II

Over the past couple of weeks, we’ve been seeing more and more mainstream headlines about inflation fears being on the rise, both in the US and in Europe. Central bankers on both sides of the Atlantic have been doing their best to assuage these concerns, promising that they have everything under control and that the situation will without a doubt normalize soon.

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COVID in India

I have just returned from a visit to my family in India. It was hard to escape. To get to the US from India, I needed a COVID test. The Indian government has seriously restricted who can provide COVID testing, treatment, and vaccination. Private doctors and hospitals that are not approved face brutal legal consequences if they provide COVID treatment.

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The Real Estate Boom in Vegas Is More Frenzied Than Ever

In Las Vegas, asset price inflation is combining with rising prices on building materials to create a real estate bubble of remarkable proportions. 

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U.S. Hypocrisy on Display on Belarus

U.S. officials are shocked and outraged over the forced landing of a passenger airliner in Belarus. The airliner contained a passenger named Roman Protasevich, a 26-year-old man who was traveling from Greece to Lithuania.

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Public Debt Got a Lot Worse from The Great Recession to The Great Lockdown

The 2020 recession, which many countries are still going through, now has an “official” name: the Great Lockdown. In economic terms, the public sector’s response in practically all countries has been very swift and bold (which is not necessarily a good thing).1 This has caused the global public debt to skyrocket as never before.

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How Monetary Expansion Creates Income and Wealth Inequality

“Every change in the money relation alters … the conditions of the individual members of society. Some become richer, some poorer.” – Mises, Human Action, p. 414. New money enters the economy at a particular point. It does not enter in the form of a proportional and simultaneous increase in everybody’s incomes.

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Money-Supply Growth Finally Slows in March, Drops to 10-Month Low

After three months in a row of hitting new all-time highs, money supply growth slowed in March, dropping to a 10-month low. This slowdown, however, does not suggest any significant departure from the past year's high growth in money supply—which came in the wake of unprecedented quantitative easing, central bank asset purchases, and various stimulus packages.

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Yes, Paul Krugman, Booms Are Unsustainable

That Austrians and Keynesians do not share many views on economics (or probably anything else) is obvious, so a difference of opinion between the two hardly should surprise anyone.

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Ban Paternalistic Government

What is it about paternalists that prevents them from minding their own business? They are obsessed with minding everyone else’s business and, even worse, using the power of government to force people to live their lives the way paternalists want them to live them.

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Vaccine Passports and Medical Paternalism

Vaccine passports have been implemented, or are being developed, in a number of countries around the world. In February 2021, Israel introduced its "Green Pass," which becomes "effective the week after receiving the second dose" of the vaccine and expires after six months.

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The US Government Is On Track to Top Last Year’s Record-Breaking Deficits

The Treasury department has issued its spending and revenue report for April 2021, and it’s clear the US government is headed toward another record-breaking year for deficits. According to the report, the US federal government collected $439.2 billion in revenue during April 2021, which was a sizable improvement over April 2020 and over March 2021.

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Excess Mortality in The US Has Plummeted to Pre-Covid Levels

In any given year during the past decade in the United States, more than 2.5 million Americans have died—from all causes. The number has grown in recent years, climbing from 2.59 million in 2013 to 2.85 million in 2019. This has been due partially to the US’s aging population, and also due to rising obesity levels and drug overdoses.

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A Woke CIA … or a Free, Peaceful, and Prosperous Society?

There is a battle currently going on over whether the CIA should be woke or not. The battle was  apparently incited by a recent segment of a social media series issued by the CIA entitled “Humans of CIA.” According to an article in yesterday’s Washington Post, Susan Gordon, deputy director of national intelligence from 2017-2019, says that the aim of the series is to “connect to America, and if they’re lucky, attract new talent.”

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The Corrupt Bargain and the Preservation of Slavery

The most important battle of the August days of the Constitutional Convention was waged, as had been the battle over the three-fifths clause, between the North and South and had at its heart the institution of slavery.

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How Markets Have Delivered More Economic Equality

People must still compete for resources in a socialist economy. In fact, the competition is intense. On the other hand, thanks to markets, basic necessities—and even basic luxuries—are now more more accessible than ever.  Original Article: "How Markets Have Delivered More Economic Equality​" This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

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