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Category Archive: 6b) Austrian Economics

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Ethnic Prejudice and Wealth Gaps: Does the First Lead to the Second?

2023-09-14

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2023-09-14

California's decision to grant reparations to black Americans has galvanized activists across the globe. Activists think that doing so will remedy the black-white wealth gap. Ensuring that blacks are on par with whites, however, is a strange goal, since East Asians outperform whites on several metrics, including education.  Rather than contrasting blacks with whites, political activists should investigate why blacks have lagged behind relative to...

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9/11 and the Triumph of the Uniparty

2023-09-14

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2023-09-14

On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop look at the domestic costs of 9/11 and its continuing impact on Americans. The two discuss articles they wrote this week about how the events sowed the seeds of the current regime, how it reversed the trajectory of rising government skepticism in the 90s, and the need for accountability still to this day. Recommended Reading "Three Reasons Why Military Recruitment Is in...

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The White House, the Fed, and the Economy: Mises Circle in Fort Myers, FL

2023-09-14

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2023-09-14

Every day, Americans feel the political capture of the economy. Inflation, taxes, and regulatory costs hit our paychecks and savings. The regulatory capture of medical industries; food and energy production; and the various instruments of Big Tech empowers the regime with new tools to promote their latest ideological cause. The ever-growing burden of government debt has become a crisis without any political will to address it. This November, the...

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Saving Marxism from the Labor Theory of Value: It Is Still Bad Theory

2023-09-14

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2023-09-14

While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself. Original Article: "Saving Marxism from the Labor Theory of Value: It Is Still Bad Theory"

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He ido a CHINA y me he quedado SIN palabras…

2023-09-14

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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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Hollywood Meets the Austrian Business Cycle

2023-09-14

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2023-09-14

Hollywood has captivated our collective imagination for over a century. We tend to view it as something other than an industry subject to the same immutable laws of economics like cars, coffee, lumber and everything else. The current strike by Hollywood writers and actors in the face of multiple movies losing almost unheard-of amounts of money, cash bleeding streaming services and declining stock prices has been a wake-up call to an industry that...

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The Coming Collapse of the Global Ponzi Scheme

2023-09-13

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2023-09-13

In the global Ponzi scheme, thin air and deceit substitute for sound money. As hedge-fund manager Mitch Feierstein wrote in Planet Ponzi, “You don’t solve a Ponzi scheme; you end it.” Original Article: "The Coming Collapse of the Global Ponzi Scheme"

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Why the Fed’s Tight Rate Stance Damages the Economy

2023-09-13

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2023-09-13

On August 16, 2023, the Federal Reserve expressed concern about the pace of inflation, saying future rate hikes could be necessary if conditions do not change. Currently, the federal funds target rate is between 5.25 and 5.50 percent, the highest level in more than twenty-two years. Mainstream economists and journalists think about inflation in terms of consumer prices. To counter a general increase in prices, they believe, the central bank should...

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America Since 9/11: 22 Years of Lies and Despotism

2023-09-13

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2023-09-13

In a more reasonable world, people like Cheney, Rice, Bolton, et al., would all be forgotten, shamed, and disgraced for overseeing multiple disastrous wars abroad and the creation of a police state at home. Unfortunately, we don't live in a more reasonable world.  Original Article: "America Since 9/11: 22 Years of Lies and Despotism"

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No, Governor, Rights Are NOT Government-Issued Privileges That You Can Suspend

2023-09-13

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2023-09-13

On Friday, September 8, Michelle Lujan Grisham, the governor of New Mexico, announced a new public health order suspending the right to carry firearms in Albuquerque and Bernalillo County for at least thirty days. The New Mexico governor announced the thirty-day suspension at a press conference. Citing the shooting deaths of three children in Albuquerque this summer, Grisham declared “a public health emergency,” which she says gives her the...

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Three Reasons Why Military Recruitment Is in Crisis

2023-09-13

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2023-09-13

By the middle of 2022, it was already become apparent that the US military was having problems meeting recruitment goals. In August last year, The AP reported that the Army would have to cut force size, and an army spokesman admitted the Army was facing "'unprecedented challenges' in bringing in recruits." This came even with new larger enlistment bonuses. The problem, however, wasn't as acute for the Air Force, Navy, or Marine Corps. ...

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Lots of Red Ink at the Fed

2023-09-12

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2023-09-12

The Federal Reserve has officially reported a loss of $57 billion for the first six months of 2023. Quite a number! So the “Federal Reserve Banks Combined Quarterly Financial Report as of June 30, 2023” (CQFR)—a little-known document—is especially notable for its red ink. We can anticipate an annual loss of over $100 billion for 2023 and for the losses to continue into 2024. 1 How does a central bank, especially the world’s greatest and most...

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No, Small Countries Are Not at an Economic Disadvantage

2023-09-12

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2023-09-12

Being large doesn't make a country wealthy, nor does being small shrink a country's economy. Original Article: "No, Small Countries Are Not at an Economic Disadvantage"

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¿Puede Milei Dolarizar La Economía Argentina?

2023-09-12

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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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Welcome to the Twenty-First Century American Bankruptcy Show

2023-09-12

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2023-09-12

Many historians labeled the twentieth century as the American century, with many metrics used. The end of the Cold War in 1989 and the fall of the Union of Soviet Socialist Republics in December 1991 changed world affairs: several new countries formed, the Warsaw Pact dissolved, the economy of China rose, and many US military bases shut down. The twentieth century wound down with the US as the world superpower, and yet the vision of the 1990s was...

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What Mises Really Thought about Fascism

2023-09-12

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2023-09-12

When Mises wrote that the fascists had "saved European civilization," he could have been describing Francisco Franco of Spain, who kept Spain from becoming a communist dictatorship. Original Article: "What Mises Really Thought about Fascism"

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Inflation: Government’s Insidious Form of Theft

2023-09-12

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2023-09-12

No one today talks about the death penalty for debasing gold or silver coins as established by section 19 of the Coinage Act of 1792, nor do they usually bring up Article 1, Section 10 of the Constitution, which authorizes only “gold and silver Coin a Tender in Payment of Debts.” Instead, we’ve come so far as to establish a “gold standard” for the monetary policy of inflating currency at roughly two percent per annum to be carried out solely by the...

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America Since 9/11: 22 Years of Lies and Despotism

2023-09-12

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2023-09-12

One sees many flags at half-mast across the country today. And rightly so. Thanks in part to the negligence and incompetence of the CIA and FBI, the Federal government  failed disastrously at what it tells us is the regime's number-one priority: public safety.   [Read More: "9/11 Was a Day of Unforgivable Government Failure" by Ryan McMaken] More than 2,900 human beings died that day, the overwhelming majority of which were civilians...

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Is the Monopoly Board Game Like Real Markets?

2023-09-11

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2023-09-11

Many people believe that the board game Monopoly, developed during the Great Depression, mimics a real-world capitalist economy. Monopoly is a game, not real life. Original Article: "Is the Monopoly Board Game Like Real Markets?"

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Would You Hire an AI-powered McRobot or a Human Employee?

2023-09-11

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2023-09-11

Young people often get their first jobs in fast food or in some sort of retail customer service. Young and not so young adults are aware that fast food jobs will equip them with the skills needed to acquire future employment. Some choose to make a career in fast food, while for others it is a means of developing skills and earning money to satisfy their needs and wants. In the past, people could easily find employment making burgers and French...

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