Para Bernie Sanders, los jefes sindicales son más importantes que los niños pobres

By: Daniel J. Mitchell Bernie Sanders es un estatista duro y delirante, pero eso es parte de lo que lo hace atractivo para algunos votantes. En pocas palabras, piensan que es más auténtico que un político con el dedo en el viento. Pero no estoy seguro de que eso sea […]

The Unseen Costs of “Medicare for All”

Most of the attention on Bernie Sanders’ proposed “Medicare for All” plan has focused on the financial costs of its implementation. This is understandable, given that some estimates project costs to exceed $32 trillion over its first ten years, and that Medicare is already suffering massive losses – more than […]

Tucker Carlson and AOC Are Wrong About Christianity and Usury

Recently the nominally conservative, but increasingly populist firebrand Tucker Carlson joined self-proclaimed socialists Representative Alexandria Ocasio-Cortez and Senator Bernie Sanders in calling for a federally-imposed 15 percent cap on interest rates. In a livestream video introducing their new bill, the Loan Shark Prevention Act , the two legislators lashed out […]

MMT “Qualifies as the Financial Equivalent to Weapons of Mass Destruction”

By: Antony P. Mueller The biggest threat to our prosperity, to your pension and to the prospects of your children and grandchildren is in all likelihood something that you’ve never heard of. Yet Modern Monetary Theory (MMT), which ironically is neither modern nor a monetary theory, has been setting alight […]

The Anti-Capitalistic Mentality

The Human Action Podcast reviews another overlooked classic by Mises: The Anti-Capitalistic Mentality. This book takes no prisoners, showing how envy motivates progressive and conservative intellectuals who fear dynamic capitalism. The real reactionaries, according to Mises? Socialists who want to keep everyone stuck at one station in life. Our friend […]

New Deal and Cold War: The Link of State Domination

[This article is excerpted from chapter 9 of The Betrayal of the American Right.] One of the most brilliant and forceful attacks on Cold War foreign policy in this era came from the pen of the veteran conservative and free-market publicist Garet Garrett. In his pamphlet “The Rise of Empire,” […]

The Balance-of-Payments Myth

In March, the US trade account balance stood at a deficit of $ 50 billion against a deficit of $49.28 billion in February and a deficit of $47.4 billion in March last year. Most commentators consider the trade account balance as the single most important piece of information regarding the […]

Tariffs Are Attacks on Property Rights and Freedom

Rothbard wrote in the Libertarian Forum (v. 1, p. 184) that “… libertarians, if they have any personal philosophy beyond freedom from coercion, are supposed to be at the very least individualists.” Indeed, libertarianism holds high the rights and responsibilities of the sovereign individual: the right to self and to […]

3 Modern Arguments for Tariffs, Debunked

[Adapted from “Some Subtler Arguments for Tariffs,” published December 2003.] Many proponents of tariffs recognize the absurdity of tariffs as a general rule. However, they feel that there are certain, special cases in which tariffs are justified, and indeed vital to a nation’s survival. In  this article, I will analyze […]

Why the Elites Look Down on Manual Labor

Since the $15 minimum wage has become a major policy proposal in America, many politicians feel that certain forms of work are undignified. This became a controversial talking point when Congresswoman Alexandria Ocasio-Cortez declared that New Yorkers deserve “dignified jobs” after a deal to build a second Amazon headquarters in […]

How Central-Bank Interest-Rate Policy Is Destabilizing Banks

Broadly speaking, banks operate under the concept of maturity transformation. Banks take short-term – less than one year – financing vehicles, such as customer deposits, and use that to finance long-term – more than one year – returns. These returns range from the most commonly understood loans, such as auto […]

The Meaning of Competition

Competition is a process of the formation of opinion: by spreading information, it creates that unity and coherence of the economic system which we presuppose when we think of it as one market. Excerpted from Individualism and Economic Order (1948), this essay reproduces the substance of the Stafford Little Lecture […]

Regulatory-Industrial Complex

Socialists want socialism for everyone else, but capitalism for themselves, while capitalists want capitalism for everyone else, but socialism for themselves. Neither Ted Kennedy nor Jane Fonda practices a vow of poverty, nor are they taking any homeless into their mansions, while too many big companies try to short-circuit the […]

“Free” College Won’t Improve Education

By: Paul Boyce You’re a twenty-something student and have recently graduated. You’re excited to go and take on the world. However, you owe over $50,000. All you wanted to do is gain an education. This massive debt now looms over you. How can the world be so unfair? Why shouldn’t […]

The Broken Window

The broken-window fallacy, under a hundred disguises, is the most persistent in the history of economics. Excerpted from Economics in One Lesson, pp. 3-7. Powered by WPeMatico

Do We Really Have a Decade Left to Solve Climate Change?

Wise alecks on social media noted with amusement how Beto O’Rourke recently claimed humans had only ten years to act on climate change, thus one-upping Alexandria Ocasio-Cortez who had previously gone out on a limb by putting the deadline at twelve years. Snark aside, it’s important to point out that the “consensus science” as codified, for example, […]

The Gateway Drug Myth

Since Joe Biden’s recent announcement that he’s throwing his hat in the 2020 presidential ring, his abysmal stance on the War on Drugs has been the source of a great deal of criticism, even from those inclined to support him. Four years ago, he claimed that he opposed the legalization […]

The Individual in Society

Those who are asking for more government interference are asking ultimately for more compulsion and less freedom. Excerpted from Economic Freedom and Interventionism. Powered by WPeMatico

The Elite Under Capitalism

In a free society there is no other means to avoid the evils resulting from one’s fellows’ bad judgment than to induce them to alter their ways of life voluntarily. Where there is freedom, this is the task incumbent upon the elite. Originally published in The Freeman, January 1962. Powered by […]

Schumpeter vs. Kirzner on Entrepreneurs

[This is a selection from “Driving the Market Process: ‘Alertness’ Versus Innovation and ‘Creative Destruction’” in the Quarterly Journal of Austrian Economics. The full article is here.] Joseph Schumpeter’s theory of entrepreneurship significantly differs from that of Israel Kirzner. This is particularly apparent in Schumpeter’s argument that entrepreneurial activity is […]