Category Archive: 6b) Austrian Economics

Filter archive by: Show All Show only Articles Show only Videos

Fed Forecasts: Financial Sport or Costly Distraction?

2023-10-22

by

2023-10-22

Forget Vegas sports betting for reckless speculation. When the Fed officials make projections, the markets assume they are accurate. However, as Jerome Powell himself admits, forecasts are speculative at best. Original Article: Fed Forecasts: Financial Sport or Costly Distraction?

Read More »

What Is Seen—And What is NOT Seen: Bastiat’s Often-Ignored Wisdom

2023-10-21

by

2023-10-21

Bastiat reminded his readers that economic analysis involves not just what we see on the surface, but also the costs that are hidden from view. Original Article: What Is Seen—And What is NOT Seen: Bastiat's Often-Ignored Wisdom

Read More »

Economics and the Real World

2023-10-21

by

2023-10-21

Much of modern neoclassical economic theory depends upon assumptions that do not reflect real world conditions. Austrian economists, however, know that realistic assumptions matter. Original Article: Economics and the Real World

Read More »

Where Did the Dollar Come From?

2023-10-21

by

2023-10-21

On this week's episode, Mark takes a look back to where our dollar came from. Our nation started with silver as money: the Silver Dollar, and before that the Spanish Peso in colonial times. That type of large silver coin goes back to the early 1500s and the Early Modern Era when such coins expanded trade, improved the food supply, led to commercially produced clothing, and gradually changed housing from mud-and-grass construction to...

Read More »

Destroying Liberty Through State Protection: The First Amendment

2023-10-21

by

2023-10-21

For a state to continue existing in any meaningful way, it must constantly seek to centralize power. Regardless of the original intentions of a state’s founders or the heritage that a state claims, if those running the state simply maintain their existing powers rather than growing them, they will find themselves circumvented. Subdivisions and organic local communities nominally under the state will develop independently from the state’s center of...

Read More »

Rothbard, Milei and the New Right in Argentina

2023-10-21

by

2023-10-21

Since I recognized almost twenty years ago that no person or institution has the right to initiate aggression, now is the first time I can tell a normie what my political stance is without them having no clue what I am talking about. Now I can say that I am an anarchocapitalist without causing much surprise, as a large part of the public now has some idea of what this term means. This is thanks to the fascinating electoral success of Javier Milei,...

Read More »

Tyranny, Inc.: How “Beltway Libertarians” Failed to Convince Conservatives

2023-10-20

by

2023-10-20

From the various compromises pushed by "Beltway Libertarians" to the anti-free market rhetoric of conservative Sohrab Ahmari, government intervention has a lot of new friends. This will not end well. Original Article: Tyranny, Inc.: How “Beltway Libertarians” Failed to Convince Conservatives

Read More »

When It Comes to Economic Analysis, Your “Opinion” Is Irrelevant

2023-10-20

by

2023-10-20

I was recently in a room presenting to a group of about thirty. At one point, one of my fellow presenters said, “In my opinion, that is why this area of the country has lost so many jobs.” I held my tongue but couldn’t help but think, “Nobody cares about your so-called economic opinion.” Economics is based on the science of human action. We can, with certainty, deduce certain causes and effects. Your opinion on something is akin to saying, “In my...

Read More »

The Male/Female Wage Gap and This Year’s Nobel Laureate

2023-10-20

by

2023-10-20

Brian Albrecht joins Bob to discuss the work of this year's Nobel (Memorial) Prize Winner Claudia Goldin, with an emphasis on the male-female wage gap. The Male/Female Wage Gap and This Year's Nobel Laureate Video of The Male/Female Wage Gap and This Year's Nobel Laureate Claudia Golden and Tyler Cowan Discuss The Gender Earnings Gap: Mises.org/HAP418a Claudia Golden's Paper on The...

Read More »

Is a Welfare State Consistent with Libertarianism?

2023-10-20

by

2023-10-20

Governing Least: A New England Libertarianismby Dan MollerOxford University Press, 2021; xii + 326 pp. Dan Moller’s thoughtful book is packed with arguments, and in what follows I’ll be able to discuss only a few points of interest. The central thread of the book concerns the welfare state in contemporary capitalist societies. Moller is not a strict natural rights libertarian in the style of Murray Rothbard, who would rule out the welfare state in...

Read More »

On Centralization, Decentralization, and Self-Defense

2023-10-20

by

2023-10-20

[See this lecture as a video.] States, regardless of their constitution, are not economic enterprises. In contrast to the latter, states do not finance themselves by selling products and services to customers who voluntarily pay, but by compulsory levies: taxes collected through the threat and use of violence (and through the paper money they literally create out of thin air). Significantly, economists have therefore referred to governments—i.e.,...

Read More »

The American Front of the Hamas-Israeli War

2023-10-20

by

2023-10-20

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the consequences of the Hamas-Israeli War may have on Americans. Looking at lessons from the War on Terror and other military conflicts, Ryan and Tho consider the economic costs, threats to personal liberty, and dangers of escalation that could lead to direct US involvement. "Falling Military Recruitment Is Another Sign of Waning Faith in the Regime" by Ryan...

Read More »

Cotton Pickin’ Sanctions

2023-10-20

by

2023-10-20

On yet another crusade, US authorities have sanctioned Chinese cotton imports. The sanctions won't change Chinese policies but they will create hardships for many. Original Article: Cotton Pickin' Sanctions

Read More »

How Can Electricity Providers Promise 100 Percent Green Energy? Probably Not

2023-10-20

by

2023-10-20

We expect the lights to come on when we flip a switch, unconcerned with how the electricity is produced or how it reaches our homes. We are aware of telephone poles, wires overhead, and transmission towers, solar panels, and windmills across the countryside. But as long as we pay our electric bills, we trust electric utilities to provide our power somehow. Who produces the electricity we use? Where does it come from? How does it reach us when we...

Read More »

All Hail the Uniparty’s Demise and the Rise of RFK

2023-10-19

by

2023-10-19

Recorded at the Mises Institute Supporters Summit in Auburn, Alabama, 12-14 October 2023. Includes an introduction by Dr. Sandra Klein. Sponsored by William Haynes. All Hail the Uniparty’s Demise and the Rise of RFK | David Stockman Video of All Hail the Uniparty’s Demise and the Rise of RFK | David Stockman

Read More »

Living Libertarian: Brief Biographies

2023-10-19

by

2023-10-19

Why do people become libertarians? What attracts them to Austrian economics? Original Article: Living Libertarian: Brief Biographies

Read More »

Correlations and the Definition of the Money Supply

2023-10-19

by

2023-10-19

According to popular thinking, the definition of money is flexible. Sometimes the money supply could be M1 (currency and demand deposits); at other times it could be M2 (all of M1, plus savings deposits, time deposits, and money market funds) or some other M. According to popular thinking, what determines whether M1, M2, or some other M is considered the money supply is whether it is well correlated with key economic data such as the gross domestic...

Read More »

Managing the Influx

2023-10-19

by

2023-10-19

Recorded at the Mises Institute Supporters Summit in Auburn, Alabama, 12-14 October 2023. Sponsored by Bob Tancula. Includes awarding of the George F. Kother Free-Market Writing Award by Ben Koether.  Managing the Influx | Shawn Ritenour Video of Managing the Influx | Shawn Ritenour

Read More »

How the End of US Dollar Hegemony Affects the Business Landscape

2023-10-19

by

2023-10-19

Recorded at the Mises Institute Supporters Summit in Auburn, Alabama, 12-14 October 2023. Sponsored by Michael and Lisa Keller. Download the slides from this lecture at Mises.org/SS23_PPT_7 How the End of US Dollar Hegemony Affects the Business Landscape | Peter Klein Video of How the End of US Dollar Hegemony Affects the Business Landscape | Peter Klein

Read More »

The Dollar Descent

2023-10-19

by

2023-10-19

Recorded at the Mises Institute Supporters Summit in Auburn, Alabama, 12-14 October 2023. Sponsored by Gregory and Jane Gandee. Download the slides from this lecture at Mises.org/SS23_PPT_6 The Dollar Descent | Mark Thornton Video of The Dollar Descent | Mark Thornton

Read More »