Category Archive: 6b) Austrian Economics

The first piece of legislation passed by the new Congress of the United States of America after the ratification of the Constitution included a tariff on the import of foreign sugar. Although this tariff was passed as a means to raise the funds needed to pay the debts accrued during the Revolutionary War, coincidentally it also provided elaborate protections to the nation’s wealthiest farmers of sugarcane and sugar beets. The indirect subsidies...

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During the height of the covid-19 pandemic, some politicians and voters advocated for covid vaccine mandates for air travel. And while this proposal has some intuitive pull, there are likely tradeoffs here that could result in more deaths overall as a by-product of increasing the cost and trouble of air travel, incentivizing travelers to choose another form of travel: driving. And since driving is more dangerous, flight vaccine mandates would...

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In the aftermath of Students for Fair Admissions v. Harvard and its companion case, race-based affirmative action is, for the most part, dead. While there are legitimate criticisms of this decision from the Right, the Left has taken the near opposite approach. Rather than simply lamenting, the Left is using this as an opportunity for taking further action against what they perceive to be racial discrimination. Alexandria Ocasio-Cortez (AOC) states...

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Philip Goff’s new book Why? The Purpose of the Universe is an outstanding investigation of cosmic purpose written from the author’s panpsychist point of view. It’s an impressive contribution to metaphysics, but, you may ask, why I am talking about it in this week’s column? The answer is that the author includes an appendix, “P.S. Is Taxation Theft?,” in which he raises some very relevant points about libertarianism. You may now wonder why a book on...

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Cryptocurrency is failing. Or so it seems. Last week, the arrest of Su Zhu, cofounder of failed crypto hedge fund Three Arrows Capital, brought to light the integrity issues which have plagued the crypto landscape. Along with cofounder Kyle Davies, the fund faced $3.5 billion of creditor’s claim, making its collapse one of the largest hedge-fund collapses of all time. Zhu’s arrest came from a long line of incidents. The JPEX scandal, the 2022...

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Many economists, including Milton Friedman, have claimed that reality is elusive and that one cannot know its true nature. Most mainstream economists also believe that data gives us the state of the economy. By inspecting numbers such as gross domestic product (GDP) or the consumer price index, only then can an economist accurately assess the state of economic conditions. Ludwig von Mises and the Austrian School of Economics have had a different...

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Throughout my life, a specter developed by the state has been used to haunt and cajole the world’s politics to favor centralized technocracy. I remember it first being called “global warming,” complete with apocalyptic prognostications meant to occur by specific years. Sometime after those predictions failed to materialize, it was rebranded as “climate change,” and the technocratic class’s predictions became more ethereal and vague. The craze made...

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