Category Archive: 6b) Austrian Economics

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Socialism Cannot Work, Not Even in an AI-Driven Economy

2023-08-23

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2023-08-23

Some are claiming that AI can make socialism workable, but even AI cannot take the place of entrepreneurial economic calculation. Original Article: "Socialism Cannot Work, Not Even in an AI-Driven Economy"

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The Killing and Destruction Must Stop: It Is Time to End the Ukraine War

2023-08-23

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2023-08-23

Earlier this month, CNN published the results of a poll that found that most Americans oppose sending more money and military aid to the Ukrainian government. A closer look reveals that Republican voters are behind the results. Around seven in ten Republicans oppose sending more support to Ukraine. The poll results have prompted an effort among establishment Republicans and neoconservatives to bring the party’s voters back in line. Days after CNN...

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The Fed Is Losing Tens of Billions: How Are Individual Federal Reserve Banks Doing?

2023-08-22

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2023-08-22

The Federal Reserve System as of the end of July 2023 has accumulated operating losses of $83 billion and, with proper, generally accepted accounting principles applied, its consolidated retained earnings are negative $76 billion, and its total capital negative $40 billion. But the System is made up of 12 individual Federal Reserve Banks (FRBs).1 Each is a separate corporation with its own shareholders, board of directors, management and financial...

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The Government Wants to Turn Blockchain Firms into Servants of the State

2023-08-22

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2023-08-22

Federal prosecutors and other law enforcement agents are turning blockchain firms into government subsidiaries. The real goal is to criminalize what really are lawful, private exchanges. Original Article: "The Government Wants to Turn Blockchain Firms into Servants of the State"

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The Fed: Harming the Economy for over a Century

2023-08-22

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2023-08-22

Since its founding in 1913, the unelected central planning bureaucrats at the Federal Reserve have been given the incredible privilege of legally creating money out of thin air, which mere mortals like us are not allowed to do. They have also been given the tremendous responsibility of maintaining (1) maximum employment, (2) a stable price level, and (3) low interest rates. How have they done so far? Since 1913, the bureaucrats at the Fed have...

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Help Us Get What Has Government Done to Our Money? into the Hands of Students!

2023-08-22

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2023-08-22

The weaponization of money is the issue of our time. The politicization of the dollar doesn’t only make us poorer; it empowers the evilest actors in society and undermines the most important foundations of civilization. As Dr. Ron Paul has noted, “It is no coincidence that the century of total war coincided with the century of central banking.” This year marks the sixtieth anniversary of Murray Rothbard’s classic work What Has Government Done to...

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Why Government Pollution Control Fails

2023-08-22

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2023-08-22

Mainstream economists are quick to claim that environmental problems are caused by "market failure" that can be "fixed" by government intervention. However, the intervention itself is the problem. Original Article: "Why Government Pollution Control Fails"

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America’s Big Three Entitlement Bankruptcies Are Inevitable

2023-08-22

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2023-08-22

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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Has World War III Already Begun?

2023-08-21

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2023-08-21

The recent actions of the Federal Reserve are reminiscent of central bank activities in wartime. Original Article: "Has World War III Already Begun?"

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EL PACTO DEL EXPOLIO NACIONAL: PUIGDEMONT Y SANCHEZ ¿PACTARON YA?

2023-08-21

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#sanchez #sanchismo #economia #crisis #coalición #frankenstein #puigdemont #erc #sumar 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!

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Rothbard: Gun Regulation Explained

2023-08-21

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2023-08-21

[A selection from For a New Liberty.] If, as libertarians believe, every individual has the right to own his person and property, it then follows that he has the right to employ violence to defend himself against the violence of criminal aggressors. But for some odd reason, liberals have systematically tried to deprive innocent persons of the means for defending themselves against aggression. Despite the fact that the Second Amendment to the...

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The Great Phony Disinflation Enters Its Finale

2023-08-21

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2023-08-21

“La commedia è finita!” summarizes where the United States and Europe now stand in the Great Phony Postpandemic Disinflation. Why phony? Reported consumer price index (CPI) inflation has been falling in the US and Europe; but this has little to do with the advertised monetary tightening by the Federal Reserve, European Central Bank (ECB), and Bank of England. Rather, the decline in reported CPI inflation is consistent with a natural downward rhythm...

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What Marxists Say about “Market Socialism”

2023-08-21

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2023-08-21

Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented. Original Article: "What Marxists Say about "Market Socialism""

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The Coming Collapse of the Global Ponzi Scheme

2023-08-21

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2023-08-21

It won’t be long before governments around the world, including the one in Washington, self-destruct. Strong words, but anything less would be naïve. As economist Herbert Stein once said, “If something cannot go on forever, it has a tendency to stop.” Case in point: fiat money political regimes. Interventionist economies of the West are in a fatal downward spiral, comparable to that of the Roman Empire in the second century, burdened with...

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Progressives Have Corrupted Not Only Money, but Its History as Well

2023-08-20

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2023-08-20

Social democrats are so desperate to cast off limits on government that they'll embrace anything that justifies their ambitions. So they invent theories of money that are very, very wrong.   Original Article: "Progressives Have Corrupted Not Only Money, but Its History as Well"

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Even in Slave Economies, the Division of Labor Was Inescapable

2023-08-19

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2023-08-19

Even under chattel slavery, inequality was still pervasive. Carpenters, sugar boilers, blacksmiths, cabinetmakers, and rum distillers constituted an elite core of slaves. Original Article: "Even in Slave Economies, the Division of Labor Was Inescapable"

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Hail the Speculators! They Take the Necessary Economic Risks in Our Economy

2023-08-19

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2023-08-19

Speculators are reviled in the media and by politicians and academics. Yet the speculators are the ones taking risks to ensure the rest of us can have more economic certainty. Original Article: "Hail the Speculators! They Take the Necessary Economic Risks in Our Economy"

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Crash Landing

2023-08-19

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2023-08-19

Will we get a soft landing or a hard landing in the economy? Or, should we hope for a crash landing? Mark Thornton explains. See also "Soft Landing? Not Likely" featuring Bob Murphy and Jonathan Newman on the Human Action Podcast: Mises.org/HAP407 Be sure to follow Minor Issues at Mises.org/MinorIssues.

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Dollar Hegemony Is Ending Due to Geopolitical Changes

2023-08-19

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2023-08-19

Since the Bretton Woods Agreement in 1944, the dollar has been the world’s preferred reserve currency—the major trading nations of the world were willing to hold dollars in vast amounts to satisfy their need for a readily accepted worldwide payment medium. Even when, in 1971, the United States violated its solemn promise to redeem its dollars for gold at thirty-five dollars per ounce, nations were still willing to hold dollars. Germany Shies Away...

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No, Small Countries Are Not at an Economic Disadvantage

2023-08-19

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2023-08-19

Some analysts contend that size can be a deterrent to economic prosperity, so as a result, small states are particularly vulnerable to economic and environmental shocks. Usually, small states are discussed in light of their limitations and challenges. Even leaders of small countries earnestly paint size as an obstacle to future progress. The idea that smallness is an impediment to be overcome has become gospel in some quarters. Caribbean leaders...

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