Category Archive: 6b) Austrian Economics

The United States regime has picked sides in the Israel-Hamas war and has committed to funding Israel's ongoing bombing of non-combatant men, women, and children in the Gaza strip. Northern Gaza's infrastructure is now all but destroyed, with millions of Gazans displaced and homeless. Nearly ten times more Gazans than Israelis have now died in the conflict. Many Gazans have fled to the southern portion of Gaza, but homelessness and abject poverty...

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The TSA has been promising to end its boneheaded ways for more than 20 years. Flying out of Dallas International Airport last week, I ruefully recognized that all TSA reform promises are malarkey. As I neared the end of a TSA checkpoint line, I saw two women loitering behind a roped off section for CLEAR, a new biometric surveillance program that works with 35 airports and coordinates with TSA. CLEAR involves travelers standing in photo kiosks that...

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We hear plenty about threats to American democracy: Donald Trump’s a threat, the Republican party is a threat, and any number of other people or political parties are threats. Now it’s ExxonMobil’s purchase of Pioneer Natural Resources. Jeff D. Colgan, a professor of political science and the director of the Climate Solutions Lab at Brown University, wrote in an easily missed piece entitled “Exxon Mobil’s Pioneer Acquisition Is a Direct Threat to...

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The recurring cycle of economic booms followed by inevitable busts has remained a puzzle for generations of observers. While mainstream Keynesian and monetarist theories propose monetary interventions to smooth these fluctuations, the Austrian School offers a compelling and alternative perspective. Austrian business cycle theory provides a profound understanding of how artificially inflated booms sow the seeds of their own destruction. Delving into...

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Quit College—or Better Yet, Don’t Even Start When I was in university a decade ago, this was some wacky, contrarian advice. It wasn’t unheard of for intellectual, middle-class youngsters to opt out of college, and it was still the early days of efforts like Praxis, but realistically there didn’t seem to be any alternatives. So, I went to university because that’s where you learn things and become a grown-up . . . or something. These days, half of...

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​Why are we using state money instead of market money? Put another way, why can’t we select the money we want to use? Cryptocurrencies are a market alternative, but they haven’t put state money out of business yet. If they ever threaten to do so, the state can prohibit them. Market money is sound because of two essential features. First, it represents the market’s choice of a universally accepted medium of exchange, and second, it shackles...

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