Category Archive: 6b) Austrian Economics

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Ranking the GOP Debaters on Foreign Policy

2023-08-30

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2023-08-30

Ryan and Zachary rank the GOP candidates at the debate. They range from "least terrible" (Ramaswamy) to "utterly awful" (Haley and Pence).  Be sure to follow War, Economy, and State at Mises.org/WES.

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What Is the Right Inflation Target for Central Banks?

2023-08-30

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2023-08-30

The "2 percent" inflation target is purely arbitrary, and mainstream economists can't agree on the "right" level. It's all folly, and Austrian economics explains why.  Original Article: "What Is the Right Inflation Target for Central Banks?"

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Mises University 2024

2023-08-30

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2023-08-30

Mises University is open only to scholarship students and invited donors. If you have any questions, please contact Felicia Jones ([email protected]).  Austrian Economics Rooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian school offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice. More than a...

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“Debanking”: The Latest Assault on Freedom of Speech

2023-08-30

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2023-08-30

Threats to freedom of speech and efforts to suppress dissenting views and voices have been on the rise over the past decades. They were exponentially intensified since the ascent of social media, and as the political polarization in the West truly took hold of our societies, the powers that be have been using any and all tools at their disposal to “defend” the interests of the establishment against those who might try to publicly question its...

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Flying into Foolishness: The DOJ “Saves” Consumers from Low-Cost Airlines

2023-08-30

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2023-08-30

The DOJ claims that it has "protected" consumers by standing in the way of a partnership between JetBlue and American Airlines. The only thing the DOJ protected was higher-cost flying. Original Article: "Flying into Foolishness: The DOJ "Saves" Consumers from Low-Cost Airlines"

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The Big Shift: The decline of Western politics

2023-08-30

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2023-08-30

Part I of II Those of us who have read and studied political history, who have closely observed its evolution and especially those who have taken note of all the tactics and ploys used over the last couple of decades, will surely not be surprised by any of the findings and ideas I’ll outline in the following analysis. I would still encourage the reader to read on, though. Because for the majority of citizens, taxpayers, savers and investors,...

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The Unwelcome Return of Covid Restrictions and Lockdowns

2023-08-30

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2023-08-30

Covid restrictions are back. Almost a year after President Joe Biden said “the pandemic is over,” several hospitals, businesses, and universities have reinstated mask mandates and social distancing requirements. Meanwhile, nearly sixty universities have announced that students must take a covid vaccine to attend for the fall 2023 semester. Although these restrictions are still limited to only a handful of organizations, their implementation...

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Real Progress versus the Progressives

2023-08-29

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2023-08-29

Progressives have distinguished themselves in the past half century by being against progress. That trend is unlikely to change. Original Article: "Real Progress versus the Progressives"

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The New Socialism Is a Public-Private Partnership

2023-08-29

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2023-08-29

In 1990, socialism seemed to be done once and for all, but the times have changed. In the last twenty years, socialism has again become fashionable beyond the academic fringes. The covid-19 crisis demonstrated how quickly and thoroughly the traditionally free societies of the West may be transformed by small groups of determined and well-coordinated decisionmakers. Top-down central planning of all aspects of human life is today not merely a...

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Rothbard on the Ukraine War

2023-08-29

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2023-08-29

My title seems odd. How could Murray Rothbard comment on the Ukraine War, when he died in 1995? Of course, he can’t comment on current events. But the principles this great thinker wrote about tell us what he would say about today’s American foreign policy. He would tell us to stop sending money and arms to the Ukraine and to end all sanctions against Russia. What goes on in that region is none of our business. Getting involved risks a nuclear war...

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Is China Colonizing Jamaica?

2023-08-29

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2023-08-29

The Chinese have been in Jamaica since the nineteenth century. After emancipation, planters felt that newly freed blacks would be unwilling to toil on plantations, and the exodus of ex-slaves from plantations confirmed their suspicions. So to fill labor gaps, planters resorted to importing workers. Therefore, a formal indentureship scheme was introduced to lure workers from Asia and Africa. The Chinese entered Jamaican society in 1854 as lowly...

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Do Monopolies Cause Inflation?

2023-08-29

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2023-08-29

Too many economic commentators claim that monopolies are the cause of inflation. Austrian economic analysis shows that this is impossible. Original Article: "Do Monopolies Cause Inflation?"

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The Chinese Economy: Market Socialism with Chinese Characteristics

2023-08-29

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2023-08-29

In recent decades, the Chinese Communist Party (CCP) has boasted about having lifted hundreds of millions of people out of poverty; however, they were only able to do this because hundreds of millions of people had been living in poverty under its rule. From the founding of the People’s Republic of China (PRC) in 1949 until the economic reforms of the late 1970s, the country’s economy was almost entirely centrally planned. The government controlled...

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Why Governments Love Political “Crimes” Like Treason and Sedition

2023-08-28

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2023-08-28

In a free society, political crimes like treason and "seditious libel" are few and far between. Under despotic regimes, on the other hand, political crimes multiply.  Original Article: "Why Governments Love Political "Crimes" Like Treason and Sedition"

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The State as Modern-Day Superstition: Unraveling the Illusions of Authority

2023-08-28

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2023-08-28

Without the erroneous public perception and judgment of the state as just and necessary and without the public’s voluntary cooperation, even the seemingly most powerful government would implode and its powers evaporate. Thus liberated, we would regain our right to self-defense and be able to turn to freed and unregulated insurance agencies for efficient professional assistance in all matters of protection and conflict resolution. —Hans-Hermann...

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How the Soviets Used Common Criminals to Destroy the Regime’s Enemies

2023-08-28

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2023-08-28

In the Gulag, political prisoners were systematically terrorized by ordinary criminals with the encouragement of the authorities. It was hoped this would help the regime liquidate the state's ideological enemies.  Original Article: "How the Soviets Used Common Criminals to Destroy the Regime's Enemies"

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America’s Big Three Entitlement Bankruptcies Are Inevitable

2023-08-28

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2023-08-28

America’s federally sanctioned entitlement programs, Medicare, Medicaid, and Social Security, each face bankruptcy in the next few years. Medicare and Medicaid were created in 1965 as part of President Lyndon Johnson’s Great Society legislation. Social Security was created in 1935 to provide retirement income for Americans who reached the age of sixty-five. These three entitlement programs consume about fifty cents of every federal budget dollar,...

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Not Even a Pencil Could Exist without Fossil Fuels

2023-08-27

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2023-08-27

Leonard Read's famous "I, Pencil" explained the workings of the market in terms of the creation of a simple pencil. However, we should not forget that the reviled fossil fuels are involved at every turn. Original Article: "Not Even a Pencil Could Exist without Fossil Fuels"

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Yellow Trucking Goes Bankrupt, Thanks in Part to Onerous Labor Laws

2023-08-26

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2023-08-26

Yellow Trucking Company has filed for bankruptcy and ceases to exist as a viable firm. Much of the blame is due to the Teamsters Union which has a long a violent history. Original Article: "Yellow Trucking Goes Bankrupt, Thanks in Part to Onerous Labor Laws"

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The British NHS More Resembles a Statist Cult Than Advanced Healthcare

2023-08-26

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2023-08-26

The seventy-fifth-anniversary celebration of the British National Health Service masked the real failures of this system, one that only can become worse over time. Original Article: "The British NHS More Resembles a Statist Cult Than Advanced Healthcare"

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