The Keynesian Multiplier Fairy Tale
One of the myths of Keynesian theory is that through monetary injections and government purchases, an economy can spend itself into prosperity. While such a scenario is economically impossible, most…
Economic Calculation and the Entrepreneur: Austrian Economics Is the Best Source for Understanding the Market Economy
The concept of economic calculation is vitally important to understanding our modern economy, yet few people— and especially economists—fail to comprehend that it even exists. Yet, without economic calculation we…
The Gradual Leftward Shift in US Politics and Economy
This year’s presidential election is presented in stark terms of right and left, Trump on the right and Harris on the left. However, it is more realistic to say that…
The Fed Hits the Panic Button and Slashes the Fed Funds Rate
The Fed is desperate for you to think that “this time is different.” Unfortunately, Powell can’t seem to come up with explanation of why that is the case.
The Second Trump Shooter Believed Exactly What the Establishment Media Wanted Him to Believe
After Trump narrowly escaped another assassination attempt, the establishment seems uninterested in the motives of the would-be shooter. Perhaps that’s because he’s echoing the same simplistic narratives about the Ukraine…
Yes, We Should Defend the Term “Capitalism”
Many proponents of free markets have tried to cast aside the name “capitalism” as a descriptor of the market system. They should take caution before doing so.
Understanding the Basics of Modern Banking
Banking systems around the world have huge effects on our lives, yet few people understand how banks work. Worse yet, even fewer understand the malign powers of central banks and…
Tariffs, Protectionism, and Why Borders Matter
The political zeitgeist is to embrace protectionism, leading some who support free trade to embrace open borders. However, as Murray Rothbard explained, people and societies are complex entities and what…
The Denarius and the Dollar: Price Controls Then and Now
The more things change, the more they remain the same. In our present age of inflation, we are reminded of how Diocletian and other Roman authorities ordered price controls and…