Category Archive: 6b) Austrian Economics

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Human Ignorance Is an Unstable Basis for Liberty and Praxeology

2024-07-01

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2024-07-01

In his review of F.A. Hayek’s Constitution of Liberty, Murray Rothbard takes issue with the Hayekian case for freedom, which rests solely on human ignorance. On this view, reason is dogmatic and tends to lead to totalitarianism, with arrogant despots claiming they have the knowledge to rationally and efficiently plan the social order. As Joe Salerno has shown, Ludwig von Mises took a different approach.In contrast to the Hayekian stress...

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La gran FARSA de la JUSTICIA SOCIAL

2024-06-30

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Lo que nos venden como justicia social es una aberración política que elimina la igualdad ante la ley y favorece a unos pocos, conduciendo al totalitarismo. Te animo a suscribirte a mi canal y te invito a seguirme en mis redes sociales: ☑ Twitter - https://twitter.com/dlacalle ☑ Instagram - https://www.instagram.com/lacalledanie ☑ Facebook - https://www.facebook.com/dlacalle ☑ Página web - https://www.dlacalle.com ☑ Mis libros en Amazon -...

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The Coming US Budget Disaster Will Impoverish Americans

2024-06-29

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2024-06-29

Deficit spending is not a growth tool. It is the recipe for stagnation.The latest Congressional Budget Office (CBO) budget and economic outlook estimates show the extent of the challenges of the United States fiscal nightmare.The CBO expects a budget deficit of $1.9 trillion in 2024, a year of alleged robust economic growth and record tax receipts. They expect revenues to reach $4.9 trillion, or 17.2 percent of GDP, in 2024, which will rise to 18.0...

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¿Son los RICOS CULPABLES de todos nuestros problemas?

2024-06-29

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¿Subir impuestos a los ricos resolvería todos los problemas económicos? Te animo a suscribirte a mi canal y te invito a seguirme en mis redes sociales: ☑ Twitter - https://twitter.com/dlacalle ☑ Instagram - https://www.instagram.com/lacalledanie ☑ Facebook - https://www.facebook.com/dlacalle ☑ Página web - https://www.dlacalle.com ☑ Mis libros en Amazon - https://www.amazon.es/Daniel-Lacalle/e/B00P2I78OG ¡Un saludo! #Economía #Riqueza #Impuestos...

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Rushing for the Financial Exits

2024-06-29

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2024-06-29

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property...

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Reality Is NOT a Social Construct

2024-06-29

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2024-06-29

Human behavior is, to a large extent, socially constructed. People often act based on social norms, expectations, or habits rather than by attempting to ascertain the nature of reality itself. In that context, it is true to say that people’s perceptions of reality are socially constructed, as explained by the Thomas theorem:Another way of looking at this concept is through W.I. Thomas’s notable Thomas theorem which states, “If men define situations...

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The Impact of Interest Rates on Economic Growth: An Austrian Perspective

2024-06-29

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2024-06-29

For many years, the relationship between interest rates and economic growth has been a major focus of economic theory and policy discussions. According to Austrian theory, interest rates are an important signal in a market economy that balances the time preferences of borrowers and savers, not only a tool that central banks can manage in an effort to maintain economic stability. Severe economic distortions and malinvestments may result from...

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Debate Recap: The Funeral of Joe Biden

2024-06-28

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2024-06-28

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property...

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Why Assange Was Released

2024-06-28

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2024-06-28

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property...

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How a Limited State Becomes an Unlimited, Administrative State

2024-06-28

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2024-06-28

[Editor’s Note: This week, a new ruling from the US Supreme court chipped away at the administrative powers of the federal bureaucracy. The case, Loper Bright Ent. vs. Raimondo, largely overturned the 1984 Chevron ruling which had solidified the bureaucracy’s power to interpret laws for itself. That is, rather than require the bureaucracy to seek rulings from federal judges on the interpretation of laws, the US Supreme court in Chevron ruled that...

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Trump DESTROZA a Biden en un DEBATE ESCANDALOSO

2024-06-28

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Debate Biden-Trump: Desastre total para Biden. Los demócratas están en pánico, buscando nueva estrategia. Te animo a suscribirte a mi canal y te invito a seguirme en mis redes sociales: ☑ Twitter - https://twitter.com/dlacalle ☑ Instagram - https://www.instagram.com/lacalledanie ☑ Facebook - https://www.facebook.com/dlacalle ☑ Página web - https://www.dlacalle.com ☑ Mis libros en Amazon - https://www.amazon.es/Daniel-Lacalle/e/B00P2I78OG ¡Un...

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Biden’s Debate Performance Was Revealing

2024-06-28

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2024-06-28

Last night, President Joe Biden and former President Donald Trump faced off in Atlanta in what’s supposed to be the first of two presidential debates. Each man had essentially one job. Trump needed to appear stable enough to counter the characterization his opponents have built up of an unhinged maniac who is dead set on tearing the country down to nurse the hit his ego suffered in 2020. And Trump did a perfectly good job at that. Biden, on the...

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It All Began When the Government Tried to Make Housing More Affordable

2024-06-28

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2024-06-28

I attended a neighborhood association meeting recently on the inner west side of San Antonio. The concerns were probably not unlike those of residents in other United States urban centers: crime, public intoxication, vagrancy, etc.One that drew a notable response from the local councilwoman was the cost of housing. This issue provides a good example of how actions of the federal government trickle down and leave collateral damage in our...

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All Hail the Death of Chevron!

2024-06-28

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2024-06-28

The most pervasive and prevalent aspect of government to the average American is the regulatory bureaucracy. Starting a business requires the acquisition of a license. Bureaucrats were given powers to create new legal requirements, accounting measures, and deviations from profit management. This was enabled by the law, through the delegation of powers by Congress to the bureaucrats, but also by the Supreme Court. But, that is coming to a close in...

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Geopolitical Shocks: How to Profit with Kuppy’s Macro Dreamscape

2024-06-28

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We are entering a golden age of macro investing says Harris Kupperman, or “Kuppy” as he’s colloquially known. Kuppy is the founder and CIO of Praetorian Capital, where he publishes an excellent, free investor letter (link below) that I read regularly. In it, he’s written about the “great macro dreamscape,” where the world unravels largely in response to runaway government debt. While many of Kuppy’s readers took his forecasts in a negative light...

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The “Equality of Opportunity” Fallacy

2024-06-28

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2024-06-28

Many people argue in this way: The 1964 Civil Rights Act was fine. No one should be discriminated against because of his race or sex. Because blacks and women have suffered such discrimination in the past, it may be that programs like affirmative action are justified, at least temporarily. However, the purpose of these programs should be to promote equality of opportunity. Everybody deserves an equal chance to live a good life or, at any rate, a...

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When Balancing the Budget Hurts the Economy

2024-06-28

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2024-06-28

Immediately after taking office, the president of Argentina, Javier Milei, signed a decree and reduced the number of ministries from twenty-two to nine. Although tens of thousands of public employees have been disposed of since then, the celebrated reduction is still symbolic, because it only ordered some ministries to absorb others and did not reduce public employment significantly. Milei has managed to achieve five budget surpluses so far. Public...

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Joe Biden and the Anatomy of a Failing State

2024-06-28

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2024-06-28

Presidential debates are a quirky aspect of modern American politics. In theory, they are the closest thing to political combat, a rare opportunity for political leaders to publicly contrast differences in ideology and vision for the country. In reality, presidential debates have become something more akin to pop culture, with actors repeating lines they don’t believe in, achieving a desired reaction from various popular audiences. A particular...

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Joe Biden’s Reverse Robin Hood Student Debt Cancellation

2024-06-28

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2024-06-28

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property...

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The State’s Best-Kept Secret

2024-06-28

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2024-06-28

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property...

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