Category Archive: 6b) Austrian Economics

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Edmund Phelps on Egalitarianism

2023-06-14

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2023-06-14

The classical liberal economist Edmund Phelps wants government to aid poor people, but he clearly is not an egalitarian. His philosophy would be unacceptable to today's "woke" egalitarians. Original Article: "Edmund Phelps on Egalitarianism"

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Wall Street to the Fed: Inflation Is Over. Give Us More Easy Money!

2023-06-14

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2023-06-14

The federal government’s Bureau of Labor Statistics (BLS) released new price inflation data Tuesday, and according to the report, price inflation during May decelerated, coming in at the lowest year-over-year increase in twenty-six months. According to the BLS, Consumer Price Index (CPI) inflation rose 4.0 percent year over year in May before seasonal adjustment. That’s down from April’s year-over-year increase of 4.9 percent, and May is the...

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China Calls Out the USA for Instigating the Infamous Color Revolutions

2023-06-14

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2023-06-14

Despite America’s attention abroad being largely Russia-focused recently, the bigger fish to fry in Washington’s eyes is China. Even as the US pours aid package after aid package into the Ukraine conflict with one hand, it still manages to raise its other hand to wag a finger across the Pacific Ocean at its rival superpower. But like every other country in the world, China has been watching America’s cavalier foreign policy and interventionism in...

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The Republican Debt-Ceiling “Deal” Is Exactly What We Expected

2023-06-14

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2023-06-14

Contrary to the still-enduring myth about Republican budget cutting, there is no correlation whatsoever between Republican control of DC and the trajectory of federal spending. Original Article: "The Republican Debt-Ceiling "Deal" Is Exactly What We Expected"

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Why Barbados Advanced Economically While Jamaica’s Growth Lagged

2023-06-14

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2023-06-14

Onlookers often cannot fathom why Barbados and Jamaica have delivered such divergent outcomes despite their similar history as former colonies of England. Both countries achieved independence in the 1960s and inherited British law and institutions. Yet Barbados eclipsed her peers to become the pride of the developing world, whereas Jamaica recorded years of anemic growth and institutional degradation. However, digging deeper into history reveals...

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Austrian Economics Research Conference 2024

2023-06-13

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2023-06-13

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. 2024 marks the 50th anniversary of the South Royalton Austrian Economics Conference. In honor of this landmark event, there will be sessions and lectures dedicated to evaluating the advances of Austrian economics over the last half...

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Don’t Get on the Nationalist Bus

2023-06-13

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2023-06-13

Like so many others in the "national greatness" movement, Christopher Buskirk understands some of the problems the country faces but fails to grasp the solutions. Original Article: "Don’t Get on the Nationalist Bus"

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Current Socialists Should Support Government Default: Their Forebears Certainly Did

2023-06-13

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2023-06-13

Bernie Sanders, in a recent opinion piece, attacked Republicans for trying to get concessions out of the Biden administration under threat of debt default, stating, “Defaulting on our nation’s debt would be a disaster.” Writers at Jacobin echo Bernie’s sentiment. Unfortunately, it seems like modern socialists are against default; however, historic socialists are not on the same page as our contemporaries. Karl Marx, Vladimir Lenin, and other...

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Taxation as a Weapon against Prosperity

2023-06-13

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2023-06-13

The current regime wants to use taxation not simply as a means to collect revenue for the government, but as a weapon against economic prosperity itself. Original Article: "Taxation as a Weapon against Prosperity"

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The GDPR Paradox: Empowering Government in the Name of Data Protection

2023-06-13

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2023-06-13

The European Union’s General Data Protection Regulation (GDPR), which became effective in 2016, is one of the most detailed legislative schemes in the field of data protection. This article discusses two libertarian-minded objections to its approach. First, I argue that the notion of “right” adopted in the GDPR is flawed. Second, it shows that the GDPR doesn’t protect individuals from data-hungry governments and corporations. In the end, data...

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How “Squatter Democracy” Created America’s First Welfare Program

2023-06-13

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2023-06-13

With the rise of homeless camps and tent cities in many American cities, the issue of squatting has become a cause for alarm among many residents and policymakers. In many cases parks, sidewalks, and other public rights-of-way have been taken over by people living in tents or makeshift shelters, rendering the areas unusable to most area residents. In other cases, some of these homeless people have taken over empty businesses and homes that were...

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The Bankruptcy Caravan Is Now Arriving: Time to Pay for the Easy Money

2023-06-12

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2023-06-12

As the Fed increases interest rates to reverse the inflation it has caused, firms that depended on easy money will face the bankruptcy judge. Stay tuned; there's more to come. Original Article: "The Bankruptcy Caravan Is Now Arriving: Time to Pay for the Easy Money"

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Review: Orwell’s The Road to Wigan Pier

2023-06-12

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2023-06-12

While George Orwell wrote magnificently against totalitarianism, his attempt to defend socialism in The Road to Wigan Pier stumbled badly. Original Article: "Review: Orwell's The Road to Wigan Pier"

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Default by Inflation Is the Real Drama in the Global Debt Market

2023-06-12

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2023-06-12

The real drama of default in global markets has not been the federal debt ceiling negotiations in Washington but the write-off by inflation. The issue of whether it turns out that the US Treasury for a few weeks has been slow in servicing its debts—with all delays subsequently rectified—is a sideshow. We could regard this as camouflage for the ongoing real write-off operation. In this, countries led by the US, where a great inflation emerged during...

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Myth #2: Deficits Do Not Have a Crowding-Out Effect on Private Investment

2023-06-12

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2023-06-12

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard. In recent years there has been an understandable worry over the low rate of saving and investment in the United States. One worry is that the...

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Individualism in the US Has Helped Make It an Economic Success

2023-06-11

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2023-06-11

Individualism, while condemned in some cultures, has helped make this country economically successful. Will the influx of immigrants from cultures that devalue individualism reverse that success? Original Article: "Individualism in the US Has Helped Make It an Economic Success"

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Higher Corporate Profit Margins Aren’t Causing Inflation

2023-06-10

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2023-06-10

The usual suspects such as Robert Reich claim that corporate profits are causing inflation. Actually, increases in corporate profits are tied to increases in inflation. Original Article: "Higher Corporate Profit Margins Aren't Causing Inflation"

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“Trans Rights” Means Trans Entitlements and the End of Civil Society

2023-06-10

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2023-06-10

The trans rights movement has quickly moved into government coercion and outright violence. There is nothing libertarian about what is happening in this movement today. Original Article: "“Trans Rights” Means Trans Entitlements and the End of Civil Society"

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Fossil Fuels Enable Us to Better Fight Fires and Other Environmental Disasters

2023-06-10

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2023-06-10

This week we’ve seen a relatively unprecedented environmental phenomenon in New York City. Canadian wildfires have led to the worst air quality New York has ever had—and the worst air quality anywhere in the world right now. The air has taken on a sepia tint, and the city looks like the setting of a postapocalyptic movie. Many individuals are blaming the situation on climate change and calling for mass government intervention. Alexandria...

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David French Gets to Sit with the Cool Kids at the NYT Lunch Table

2023-06-10

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2023-06-10

Most of us would like to forget many of the unpleasant aspects of our adolescence, and especially our days in middle and high school. No matter what the school setting, private or public, every place had its “cool kids” who ruled over the rest of us, especially in the school cafeteria. Journalism has its own version of the “cool kids,” those being reporters and writers from larger media outlets such as the New York Times (NYT) or from network news....

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