Keynes Thought Scarcity Would Disappear in the Near Future. Boy, Was He Wrong.

The Price of Peace: Money, Democracy, and the Life of John Maynard Keynesby Zachary D. CarterRandom House, 2021 [2020]xxii + 628 pages For many people, though not, to be sure, readers of The Austrian, John Maynard Keynes ranks as the greatest economist of the twentieth century; but for Zachary D. […]

Should the State Support the Arts?

Ought the state to support the arts? There is certainly much to be said on both sides of this question. It may be said, in favor of the system of voting supplies for this purpose, that the arts enlarge, elevate, and harmonize the soul of a nation; that they divert […]

An Autoethnographic Account of the Free Market: My Father

Instead of approaching the free market abstractly, in this short series, I’ll approach it from the standpoint of my own experience. In short, I’ll treat the free market in an autoethnographic account. Autoethnography is just what the word suggests: it is a genre of ethnographic writing and research that connects […]

Thanks to Covid Stimulus, Employers Can’t Find Workers. Montana’s Governor Is Having None of It

By: Alice Salles Montana governor Greg Gianforte has had enough of President Joe Biden’s covid relief bills. Instead of paying people to stay unemployed, he’s giving them a bonus for finding work. After scrapping what he called the “impractical government mandates” imposed by former governor Steve Bullock in 2020, businesses […]

Rothbard on the Betrayal of the American Right

America’s “Old Right”—rooted in 19th century liberalism but birthed in the 1930s to oppose the New Deal—was strongly laissez-faire and non-interventionist. Murray Rothbard wrote the comprehensive story of that movement, it’s influences and influence, and its destruction at the hands of Buckleyite Cold Warriorism. Modern conservatism sadly bears little resemblance […]

An American Classical Liberalism

Every four years, as the November presidential election draws near, I have the same daydream: that I don’t know or care who the president of the United States is. More importantly, I don’t need to know or care. I don’t have to vote or even pay attention to debates. I […]

Decentralization and Political Satisfaction

By: Kyle Ward As the State grows larger and more centralized, combat in the political arena will grow more desperate and extreme because there is more to be won and lost in each conflict. The States are trapped in an unhealthy relationship that deteriorates more each day. Rioting and looting […]

Social Media’s Algorithms Aren’t Really Controlling You

Senator Josh Hawley’s just-published The Tyranny of Big Tech (Regnery, 2021) raises important issues. Hawley asks, for example, Do Facebook, Twitter, and YouTube censor views that that their managers do not like? It seems clear that the answer is yes. Many people who have tried to post Facebook comments that […]

Due Process on Campus Keeps Justice on the Streets

Politics moves from campus to Main Street. The next political attack is likely to be on due process—the foundation of Western justice itself. Much depends on which side of the current debate on campus sexual misconduct hearings wins. Does a person accused of sexual misconduct deserve due process in the […]

Charlie Munger’s Oddly Desperate Attack on Bitcoin

By: Connor Mortell Recently, Berkshire Hathaway Vice Chairman Charlie Munger spoke vehemently against bitcoin and other cryptocurrency claiming that “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to […]

The State of Modern Economics

Peter G Klein is Carl Menger Research Fellow of the Mises Institute and W.W. Caruth Chair and Professor of Entrepreneurship at Baylor University’s Hankamer School of Business. He is also senior research fellow at Baylor’s Baugh Center for Entrepreneurship and Free Enterprise and adjunct professor of strategy and management at […]

Joe Biden, Stock Market Hero

By: Robert Aro The CNN headline news article says it all: Biden at 100 days: Hottest stock market since JFK Sounds like quite the accomplishment! As reported, the S&P 500 is up a whopping 8.6% since Biden took office, the largest gain since 1961. This was much larger than Biden’s […]

The US Recovery Is Weak, Especially Given the Size of the “Stimulus”

It seems that governments want to convince us that they have saved the world when the reality is that the misguided lockdowns were the cause of the economic debacle and lifting them is the main cause of the recovery.  Original Article: “The US Recovery Is Weak, Especially Given the Size […]

Three Reasons Why the Biden Tax Increase Makes No Sense

Anyone who believes the “rich” and large corporations will pay for $28 trillion in debt or the $2 trillion in new deficit has a real problem with math. Biden’s announcement of a massive tax increase on businesses and wealthier segments of the population simply makes no sense. The tax hikes will have a significant […]

Decentralization, Absolutism, and the Papal States

[The Pope Who Would Be King: The Exile of Pius IX and the Emergence of Modern Europe by David Kertzer Random House, 2018 xxx + 474 pages] Historian David Kertzer made a name for himself with his 1997 book The Kidnapping of Edgardo Mortara. The book covers the until-then-rarely-mentioned case […]

The Sterility of Intellectual Standardization

Capitalism is increasingly under attack these days by people who claim that it promotes a collapse of moral values, subordinating all else to the pursuit of individual wealth and pleasure. Often these critics demand either the strict supervision of the free market by elite government administrators or its outright replacement […]

What Happens When Governments Force Corporate Boards to Appoint More Women

A controversial new law in California requires publicly traded companies headquartered in the state to include at least one woman on their board of directors. Supporters of those types of laws even contend that gender quotas could boost firm profitability. However, the literature indicates that gender quotas are unlikely to enhance firm […]

Will Special Interests Allow America’s ‘Longest War’ to Finally End?

By: Ron Paul Even if “won,” endless wars like our 20 year assault on Afghanistan would not benefit our actual national interest in the slightest. So why do these wars continue endlessly? Because they are so profitable to powerful and well-connected special interests. In fact, the worst news possible for […]

The Ruling Class Only Cares about Democracy When It Helps Them

Turkish president Recep Tayyip Erdogan once remarked that ”[d]emocracy is like a streetcar. When you come to your stop, you get off.” Say what you want about the Turkish president and his extravagant political ambitions, but Erdogan’s statement reveals an uncomfortable truth about the present state of democracy in the […]

Alan Payne on a Fascinating History of Competing Business Models

We can gain useful insights by winding business models back in time to see how they emerged and evolved. In the case of competing business models, we can analyze the different outcomes and perhaps assign some cause and effect analysis to interpret why one model variant performed better than another. […]