Who Sets the Prices for Goods?
The common perception is that businesses set prices at a level that always earns them profits. However, as Carl Menger first pointed out in 1871, the process of determining value…
Boom Versus Growth: Why the ABCT Is Superior to Keynesianism
As the Federal Reserve engineers one financial bubble after another, we are reminded that the Austrian Business Cycle Theory explains what is happening and how there is a better way.…
Was Ricardo’s Comparative Advantage Really Different From What Adam Smith Said About Foreign Trade?
In this episode, Murphy clarifies what is right and wrong on comparative advantage.
Blinken’s Blinkers—Four Years of Biden Foreign Policy Failure
Anthony Blinken‘s term as US Secretary of State will be ending, although not soon enough. He had the misfortune of working for a president who pursues an aggressive and cynical…
Does Mass Immigration Adversely Impact the Natural Environment?
Opponents of President Biden‘s immigration policies have resorted to suing the Environmental Protection Agency to claim mass immigration harms the environment. Some observers have likened this to trying to nail…
Prohibition: The Sword of the State
Prohibition is one way the government swings the fist of violence into our daily lives.
The Political Theology That Maintains State Power
While it is tempting to think of state power as being maintained by sheer force, it still needs a “theological” justification, be it secular or religious. The US state is…
It’s Good to Be Skeptical of Elections
As with any other government-controlled institution, a high level of public skepticism about elections is healthy.
Don’t Knock Nock
Almost 90 years later, Albert Jay Nock’s Our Enemy the State remains a classic and definitive work on examining the state for what it is: a liberty-crushing behemoth. David Gordon…