Human Action Part Four with Dr. Jeffrey Herbener

We dive into Part Four of Human Action with Professor Jeffrey Herbener, Chair of the Economics Department at Grove City College. This is a fantastic discussion of money and market exchange, with Mises proving timely as ever given the current financial meltdown and crazed response from Washington. Dr. Herbener and Jeff […]

Eminent Domain: Are Holdouts Really a Problem?

Eminent domain gives the government the power to take over private property for public use. A popular argument that this interference with private property is needed goes like this: We can’t measure subjective utility, but we can take increases in wealth as a rough proxy for increases in utility. (This […]

Governments Can’t Fix This Economic Crisis They Caused

Before analyzing the emergency plans that the global economy needs, we must remember that, as in the past, the prudence and responsibility of the civil society and businesses will help us to get out of this crisis . In the face of an unprecedented crisis, we have to be realistic, […]

The Benefits of a Free Society during Pandemics

In this time of crisis, many exclaim how impressed they are by the “swift and decisive” actions by the Chinese regime. Instead of recognizing the abhorrent disrespect for human life, the Chinese response is put forth as an exemplar for combatting a pandemic. These hailers conveniently forget the many weeks […]

Diversification versus Risk

It is widely held that financial asset prices fully reflect all available and relevant information, and that adjustments to new information is virtually instantaneous. This way of thinking which is known as the Efficient Market Hypothesis (EMH) is closely linked with the modern portfolio theory (MPT), which postulates that market […]

The Noncrime Known as “Price Gouging”

Thank goodness for the First Amendment and social media! The former has allowed amateur comedians to flourish and share their wares via the latter, mostly in the form of humorous memes. It’s come in handy by providing comic relief as concern about the coronavirus outbreak has swept the land. I […]

Daniel Jafari : Life at the Center of the COVID Storm

Anish discusses the COVID19 pandemic with Dr. Daniel Jafari, an emergency physician and surgical critical care specialist working at the North Shore University Hospital in New York. Dr. Jafari speaks to us about watching the pandemic unfold, the problems being wrestled with, the remarkable response, and what’s needed in the […]

COVID-19 and the Planners’ Need to Plan

A few days ago, I received an email addressing the ongoing COVID-19 situation from the Wyoming State Bar, of which I am a member. Attached to the email was a thirty-page PDF entitled Wyoming Judicial Branch: Respiratory Disease Pandemic Plan. The stated purpose is as follows: A pandemic event is […]

Why Taiwan Hasn’t Shut Down Its Economy

As the Austrian school of economics demonstrates in the calculation theory of socialism, no central planning body has the capacity to organize society based on coercive mandates. The main reason is that the central planner is unable to obtain all the necessary information to organize society in this way, as […]

Politicians Have Used This Crisis to Remind Us They’re Mostly Wannabe Dictators

The virus has unleashed petite tyrants to haunt their tiny jurisdictions, using the cover of crisis to arrogate powers belonging to the people. Witness Robert J. Taylor, mayor of Ostrander, Ohio (population: 643 in the 2010 census), who just declared his village to be in a “state of emergency.” Along with […]

The Government’s Pandemic Strategy Is a Reckless One

The current coronavirus strategy of most governments is a recipe for a worldwide economic disaster. In many countries, the strategy of confinement and forcing shops to close is a surefire path to large-scale business failures. The cascade of economic and financial repercussions to come is likely to lead to another […]

More than Half of All US COVID-19 Deaths Occur in Only Four States

As of March 24, nearly 30 percent of all the COVID-19 deaths in the United States have occurred in New York state. Of the 910 deaths reported so far in the US, 271 happened in New York. Washington State was in second place, with 13 percent of the nation’s COVID-19 […]

The State Has Seized Many New Powers. It Won’t Let Go of Them Easily.

“Restaurants sit empty in Chinatowns. Parents keep children home from school in Toronto. Asian hotels and airlines reel at dramatic drops in bookings. Just as the media recently gave us a new and particularly intimate experience of war, we’re now getting a new and particularly fearsome experience of a public […]

Fear Makes It Easy for Governments to Expand Power

The coronavirus epidemic has for the past couple of weeks compelled panicked households to flood grocery stores in search of basic goods. Until this past weekend, however, US governments had refrained from using special powers to order forced business closures and curfews. Autocratic responses to the health crisis, it seemed, were being […]

The Use of Knowledge in Entrepreneurship

In a recent episode of the Economics for Entrepreneurs podcast, I interviewed Steve Mariotti, who has spent a lifetime teaching entrepreneurship to kids from difficult and troubled backgrounds in the US, as well as the sons and daughters of parents who lived through the USSR and Vietnamese communist regimes. He portrayed […]

The “Experts” Have No Crystal Ball

On the night of Tuesday, November 8, 2016, and in the wee hours of Wednesday, November 9, 2016, Donald Trump became US president-elect. I am not aware of a single media source that predicted that. Many predicted Hillary Clinton would win. Some stayed out of the fortune-telling game. The most […]

The End of Civilization?

Governments all over the world are using the alleged threat of a COVID-19 pandemic to shut down the world’s economy. Daniel Lacalle, an authority on energy economics, writes: “The decision to shut down air travel and close all nonessential businesses is now a reality in major global economies. The United […]

Diseases Are Bad. Government-Forced Shutdowns Are Often Worse.

However high the death rate of the COVID-19 coronavirus becomes, the governmental response to the threat will be even more dangerous. If the current blockade of economic life continues, more people will die from the countermeasures than from the virus itself. In a short time, the basic supply of everyday goods will […]

Central Bankers Are Running Out of Options

Corona fears have shifted the world’s central banks into hyperdrive. Talk more, do more, lend more—and buy everything that moves. One after the other, the major central banks took to the barricades, manned the canons, fired their bazookas, and every other military metaphor you can think of. Nobody stopped to think […]

The Costs Are Mounting in this Government-Imposed Economic Collapse

Many of us have experienced the empty grocery shelves, the mad run on toilet paper (Calling Mr. Bidet?), and the ubiquitous face of Anthony Fauci of the National Institutes for Health on television broadcasts. Federal and local authorities are stretching their constitutional limits well beyond anything our ancestors would have […]