MisesThe Birth of “Irrational Exuberance”
Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France’s minister of finance more than three centuries ago. Like Greenspan’s infamous bubbles, Law’s money-printing scheme made people rich—for a very short time.
Ctrl+Alt+Regulate: The DMA’s Misguided Reboot of Competition
Regulators with the European Union want people to believe that the “dead hand” of government regulation actually enhances competition. The only thing their actions enhance is more government power.
Hayek on the Welfare State
While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was compatible with the rule of law. Ludwig von Mises, however, knew that the welfare state is the ubiquitous slippery slope.
Gresham’s Law: Why Bitcoin Will Save the World
Does bad money drive out good money? Mark Thornton discusses one of the most impactful principles of modern society.
If Republicans Are Against Lawfare, They Shouldn’t Have Unleashed It
Republicans today are decrying the “lawfare” that Democrats are using against them, and rightly so. However, had Republicans not vastly expanded federal criminal law during the infamous Wall Street prosecutions 40 years ago, lawfare would not have become such a potent political weapon.
Ten Lessons on US Foreign Policy from Enough Already
In this review of Scott Horton’s new book, Enough Already, we see that the wars the US has raged for the past quarter century in the Middle East have been a disaster. Millions of deaths and a massive refugee crisis later, the unmistakable verdict is in.
No Central Bank Wants to Stop Price Inflation
No interventionist government or central bank wants lower prices because inflation allows the government to increase its power while slowly breaching its monetary commitments.
Who Starts Business Cycles? Banks or the Fed?
Are Austrian economists clinging to an old-fashioned view of banking? In short, no, and here is why.
The Present Monetary System Is Heading for a Breakdown
As monetary authorities continue to inflate the money supply, they inflict more and more damage upon the currency. Unfortunately, as the economy falters under the inflationary regime, the “solution” always is to ramp up inflation.
Without the State, Who Would Confiscate the Generators?
So here we are again. I remember watching, nineteen years ago, as Hurricane Katrina devastated New Orleans and surrounding areas. I remember donating bags full of supplies to an organization…
