Planned Chaos

The characteristic mark of this age of dictators, wars, and revolutions is its anti-capitalistic bias. Most governments and political parties are eager to restrict the sphere of private initiative and free enterprise. It is an almost unchallenged dogma that capitalism is done for and that the coming of all-around regimentation […]

Poland’s Beef with the EU Shows the Dangers of Political Centralization

Across the pond, Poland and the European Union find themselves deadlocked over a question about judicial primacy. In early October, Poland’s Constitutional Tribunal sparked controversy when it ruled that EU law does not supersede national legislation. At stake in the EU-Poland legal dispute, was Poland’s decision in 2018 to rein in […]

When Fiat Currency Stops Being Money

Most emerging and developed market currencies have devalued significantly relative to the United States dollar in 2021 despite the Federal Reserve’s aggressive monetary policy. Furthermore, emerging economies that have benefitted from rising commodity prices have also seen their currencies weaken despite strong exports. As such, inflation in developing economies is much higher than […]

Goodbye Transitory Inflation, Hello Omicron!

By: Robert Aro All great narratives must come to an end. No one can predict whether the transitory inflation narrative will ever return. But for now, the Federal Reserve and Treasury have officially retired its banner slogan. Yesterday The New York Times reported Treasury Secretary Janet Yellen saying: I am ready […]

Reflections on the Pure Theory of Money of Mr. J.M. Keynes

Introduction by Joseph T. Salerno Friedrich A. Hayek was only thirty-two years old when he published this two-part article in Economica, at the time, the world’s leading English-language economics journal. The article is a review essay of John Maynard Keynes’s two-volume book, A Treatise on Money, published the previous year. […]

Equality and Envy

Critics of egalitarianism, meaning by that equality, or close to it, of income and wealth among the members of a society, often claim that it rests on envy. In response, defenders say that there are respectable reasons to favor equality. (I’m assuming that envy doesn’t count as a respectable reason.) […]

Jim Bovard on HL Mencken

HL Mencken is the writer you need to read immediately. He was savagely brilliant, caustic, and witty, but also prolific across genres in ways almost unthinkable of journalists today. His skill with the English language was virtually unmatched in the 20th century, as was his deep and abiding contempt for […]

The DC Sniper Rampage: The Biggest Police Debacle of the Century?

Those who forget police debacles could be the victims of the next law enforcement fiasco. Former Montgomery County, Maryland, police chief Charles Moose passed away on Thanksgiving Day. He became famous as the most prominent law enforcement official during a three-week sniper rampage in the Washington area in 2002. The […]

The Befuddling World of the Antieconomist

Time for Socialism: Dispatches from a World on Fire, 2016–2020By Thomas PikettyYale University Press, 2021352 pages Thomas Piketty has written a useful book. Readers need no longer plough their way through his vast Capital in the Twenty-First Century, not to mention his even vaster Capital and Ideology, to understand his […]

How Governments Seized Control of Money

In discussions surrounding of the world’s monetary systems today there is usually one thing almost everyone can agree on: that money should be controlled by the organizations we call “states” or “sovereign states.” Nowadays when we say “the US dollar” we mean the currency issued by the US government. When we […]

Africa’s Long History of Trade and Markets

Market reforms in Africa can be thwarted because of propaganda asserting that markets are a Western import. Notwithstanding the currency of this belief, it is patently absurd. Markets flourished in Africa prior to colonialism, and wherever they are repressed, the result is social immiseration, as economist William Hutt points out […]

Elizabeth Warren Is So Very Wrong about Inflation

Almost anyone who follows social media is familiar with the latest tweets by Senator Elizabeth Warren, who has pronounced her verdict on higher food and gasoline prices: they are nothing less than the result of corporate greed. In fact, according to Warren, there is no inflation, only corporations arbitrarily raising prices […]

Patrick Newman on Cronyism in Early US History

Patrick Newman is a fellow at the Mises Institute who have just published his new book. He talks about Rothbard’s approach to history, whether the US revolution was libertarian, and the proper way to interpret Andrew Jackson. Mentioned in the Episode and Other Links of Interest: Patrick Newman’s new book […]

All the Trouble in the World: The Ron Paul Doctrine

Daniel McAdams is executive director of the Ron Paul Institute for Peace and Prosperity and coproducer/cohost of the Ron Paul Liberty Report. Daniel served as the foreign affairs, civil liberties, and defense/intel policy advisor to US congressman Ron Paul from 2001 until Dr. Paul’s retirement at the end of 2012. […]

Understanding Why Government Policies Fail

Pathways to Policy Failureby Gary GallesAmerican Institute for Economic Research, 2020, 490 pp. Gary Galles, an economics professor at Pepperdine University, has in this outstanding book shown how to apply basic economic principles to evaluate concrete policy proposals. In doing so, he offers a comprehensive defense of the free market […]

That Bangladesh Mask Study!

Our guest is Ben Recht, Associate Professor of Electrical Engineering and Computer Science at UC Berkeley, who recently got hold of and analyzed the raw data from the Bangladesh cluster randomized control trial of masking which made headlines in September. SHOW NOTES? Ben Recht: Twitter and webpage Ben Recht’s recent […]

A Chance to Double Your Gift

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match donations received through December 11. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on. With a donation of $25 or more, you’ll receive a copy of Hans-Hermann Hoppe’s What Must Be Done. […]

How Lincoln Dealt with “Draft Dodgers” and other Dissenters

By: Ryan McMaken reader Brad Cole writes: A great-great-grandfather Montgomery Cole, got imprisoned during the Civil War because of speaking out against the draft policies. His arrest, along with others, resulted from President Lincoln’s invoking his Proclamation 94 in September of 1862.  As for a bit of background, Montgomery […]

Jenin Younes on Legal Challenges to Vaccine Mandates

Our guest is Jenin Younes, a Litigation Counsel for the New Civil Liberties Alliance. She joins us to discuss her involvement in advocacy and in legal challenges against vaccine mandates. She holds a B.A. degree from Cornell University and a J.D. from New York University School of Law. She has […]

The Rise of the Sovereign State

The first myth one has to debunk in order to assess the relationship between the provision of law and order and the rise of the (modern) State is that this political institution is merely a natural and organic outgrowth of political power, as old as the history of mankind or […]