The Founding Fathers’ Coup d’État

[Adapted from chapter 5 of Our Enemy, the State.] The revolution of 1776–1781 converted thirteen provinces, practically as they stood, into thirteen autonomous political units, completely independent, and they so continued until 1789, formally held together as a sort of league, by the Articles of Confederation. For our purposes, the […]

Swamponomics: Trump’s Fed Pick, a Kodak Moment, and GDP Misinformation

President Donald Trump and his administration recently announced that Kodak would be transformed into a pharmaceutical producer under the Defense Production Act (DPA). The president confirmed that Kodak would receive a $765 million loan to establish Kodak Pharmaceuticals to manufacture generic pharmaceutical ingredients to decrease America’s reliance on foreign drug […]

Howard Buffett on Conscription and American Militarism

[Editor’s note by Trevor Daher: On June 15, 1948, Howard Buffett rose once again on the floor of the House of Representatives to passionately defend the cause of human liberty. Being debated in Congress this time was the Selective Service Act of 1948, whereby Congress would establish the Selective Service […]

Hayekian Coercion

The political theorist Douglas W. Rae, who has taught at Yale University for decades, likes Hayek’s account of freedom but wants to expand what counts as coercion. By doing so, he hopes to be able to extend the amount of permissible redistribution from what Hayek allows. In a lecture to […]

Joshua Gottlieb on Government Policy and Physician Income

Joshua Gottlieb is an economist who co-authored a recent paper examining the effect of government policy and physician income. The paper was recently presented at a conference co-sponsored by the NBER and NIA and its pre-publication has generated significant controversy among doctors. SHOW NOTES Joshua Gottlieb, PhD: Twitter and Website […]

Por qué a dos senadores ricos podría no gustarles Judy Shelton

By: Robert Aro Sólo dos días después de que el comité del Senado aprobara a la nominada de Trump, Judy Shelton, fue Mitt Romney (R), senador de Utah, quien dijo: No voy a apoyar la nominación de Judy Shelton a la Reserva Federal. No se dio ninguna razón por la […]

Why Two Wealthy Senators Might Not Like Judy Shelton

By: Robert Aro Just two days after Trump’s nominee Judy Shelton was approved by the Senate committee, it was Mitt Romney (R), senator of Utah, who said: I’m not going to be endorsing Judy’s Shelton’s nomination to the Fed. No reason was provided as to why he intends to vote […]

Un político zurdo quiere eliminar la clase de historia. Tiene razón.

By: Ryan McMaken Un político de Illinois quiere que la junta estatal de educación se deshaga de las clases de historia hasta que el plan de estudios sea menos racista. Informa la filial local de la NBC: Líderes en educación, política y otras áreas se reunieron en el suburbio de […]

Adrian Lee Oliver on Police Abuse and the Pros & Cons of BLM

Adrian Lee Oliver wrote a Twitter thread on the BLM protests and how they are contributing to racial polarization. The thread took off, leading to Adrian’s appearance on Benjamin Boyce’s podcast. Bob wanted his own listeners to hear Adrian’s personal story of police brutality along with his critique of today’s […]

The Hiroshima Myth

Every year during the first two weeks of August the mass news media and many politicians at the national level trot out the “patriotic” political myth that the dropping of the two atomic bombs on Japan in August of 1945 caused them to surrender, and thereby saved the lives of […]

Why the US Economy Is Stronger Than the Eurozone’s

The United States is showing resiliency and strength compared with other leading economies worldwide. The impact of the COVID-19 forced shutdown crisis is lower in the United States than in Japan, Germany, France, the average of the European Union 27, and the euro area countries. The recovery is also stronger and more sustainable. This […]

Today’s Anticapitalists Are Closer to Fascism Than They Think

On the back of the economic crisis brought about by the COVID-19 pandemics, we are witnessing—once more—so-called economists, historians, and pundits attempting to proclaim the failure of capitalism. Their criticisms of the capitalistic organization of human cooperation and coexistence are various, but there are three strains of ideological attack against capitalism […]

On the Impossibility of Intellectual Property

Abstract: The concept of intellectual property (IP) has been variously criticized as incompatible with natural rights and detrimental to the dissemination of innovations. In this paper I argue that it can be criticized on an even more fundamental level—namely as a praxeological impossibility. More specifically, it is suggested that since […]

How Murray Rothbard’s Theory of Entrepreneur-Driven Progress Can Be Applied to Modern Businesses

Recently, on the Human Action Podcast, Jeff Deist and I discussed the Rothbardian theory of the entrepreneurial economy in chapter 8 of Man, Economy, and State, titled “Production, Entrepreneurship, and Change.” In this article I will illustrate just how this Austrian theory is applied effectively in the business world. In […]

The Media Said Europe “Beat Back” COVID. But Now Lockdowns Loom Again

In recent days governments in Australia, Europe, and the US have moved toward imposing a new wave of forced lockdowns in the name of fighting the spread of COVID-19. Australia has imposed harsh new lockdown measures, including a curfew from 8 pm to 5 am. CNN reports: Those restrictions include […]

The Origins of Individualist Anarchism in the US

[Libertarian Analysis 1, no. 1. (Winter 1970): 14–28] Libertarians tend to fall into two opposing errors on the American past: the familiar “Golden Age” view of the right-wing that everything was blissful in America until some moment of precipitous decline (often dated 1933); and the deeply pessimistic minority view that […]

Ralph Welborn on the Ecosystem-Based Strategy

Key Takeaways and Actionable Insights Business strategy and business model design has traditionally been firm-centric. Entrepreneurs are called upon to establish firms, to make the firm the locus of value creation through value proposition design, assembly of resources, and production; and to ensure competitive advantage in comparison to rival firms […]

Why Keynes Was Wrong about Consumer Spending

As a result of the coronavirus pandemic, most experts are of the view that it is the role of the government and central bank to minimize the damage inflicted by the virus—and the policy response to it—on the economy. The logic behind this reasoning is that increases in the demand […]

Political Self-Determination and the Nagorno-Karabakh Conflict

“The right of self-determination in regard to the question of membership in a state thus means: whenever the inhabitants of a particular territory, whether it be a single village, a whole district, or a series of adjacent districts, make it known, by a freely conducted plebiscite, that they no longer […]

Trump Can Ensure a V-shaped Economic Recovery by Heeding the Lessons of 1921

A U or V? That is the question—whether the economic recovery from the COVID-19 shutdown will be a long, drawn-out process, a wide, flattish U” or a sharp, upward-bound one, a V. To best wrestle with this question, let us look back a bit at some economic history regarding recessions and depressions, […]