Critics of free markets claim that the 1980s and 90s were near-pure laissez-faire when, in reality, the regulatory state only got stronger. Original article: “NAFTA Fever” and the Myth of Government-Created Free Markets
Economist Bryan Caplan has held up the United Arab Emirates as an example of how open borders can be successful. Caplan clearly does not understand how immigration works in the UAE. Original article: Caplan’s Errors on the UAE and Open Borders
Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism. Original article: The Relevance of the Natural Sciences Methods in Economics
As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction. Original article: Destroying Creative Destruction: The DMA against Innovation
With the demise of the Biden administration, it is time to take a hard look at the DEI programs it imposed. While divisive, simple removal will not solve underlying problems. Original article: Post-Election Prospects for Ending DEI
Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation. Original article: Wealth and Income Inequality Are Essential for Social Cooperation
Totalitarianism is not compatible with a functioning economic system based upon free exchange and private property. Such regimes depend upon historicism and logical relativism. Original article: Totalitarianism Begins with a Denial of Economics
Austrian economics today needs critics. It doesn‘t need the critics (like Paul Krugman) who cannot give valid and accurate criticisms, but rather people who actually understand the concepts upon which Austrian thinking is built provide a real challenge. Original article: Wanted: Critics of Austrian Economics
While it is often framed in the media as a battle between principled conservatives and an angry, non-ideological movement focused solely on personal loyalty to Trump, the current civil war on the American right is only the latest chapter in a much older story. Original article: The Context Behind Donald Trump’s “Takeover” of the American Right
The original Mont Pelerin Society meeting in 1947 featured Ludwig von Mises, whose warnings about the dangers of socialism and totalitarianism had gone unheeded. In the wreckage of World War II, the truth of his message should have been obvious. It wasn't. Original article: The Battle on Lake Geneva—Mises vs. the Statists at Mont Pelerin
Even though DEI (diversity, equity, and inclusion) has taken a beating in some state legislatures, it still has a corrupting influence, especially in higher education. As Murray Rothbard pointed out, egalitarians are “at war with nature.” Original article: The Corrupt Nature of DEI
Modern American culture is statist to the core. The typical school curriculum tells students that capitalism is evil and socialism is good. This only gets worse in college. Original article: Your Kids Are Already Communist, and College Will Make It Worse
Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action. Original article: Assumptions in Economics and in the Real World
While most of us know George Orwell as an authoritative critic of totalitarianism, few people know he was a committed socialist and a lifelong defender of communist Leon Trotsky. While he understood totalitarianism, he never understood socialism. Original article: The Complex Legacy of George Orwell
Not all news from the gold and monetary fronts is bad. In fact, gold made a number of advancements in seven states, including exemptions from taxes and attempts by states to restrict Federal Reserve behavior. Gold is alive and well. Original article: Sound Money Movement Chalks Up Seven State Legislative Victories in 2024
Employing the Labor Theory of Value, Marx claimed that entrepreneurial profits arise from exploitation of workers. In reality, entrepreneurs earn profits when they correctly gauge markets. Exploitation has nothing to do with it. Original article: Entrepreneurial Profit Follows Good Decisions, Not Exploitation
Progressives blame the free market for insulin prices and want to impose price controls. But, government regulation is to blame. Original article: How the Government Created Exorbitant Insulin Prices
The watchword among progressives this election season is: “Nothing less than our democracy is at stake.” In truth, democracy itself is not in danger, but one can accurately say that “democracy,” as practiced in the US, endangers our lives. Original article: The Limits to Public Opinion and the Failure of Democracy
Birkin bags are pricey and the producer restricts its potential buyers. Unfortunately, disgruntled customers who don’t want to follow the company’s rules are now appealing to US antitrust law. Original article: Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”
Wage differences between men and women often are automatically attributed to sex discrimination against women. However, as research has shown time and again, other factors are at work. Original article: Discrimination and Opportunities for Women
Buchanan and Tullock‘s The Calculus of Consent influentially applies economic ideas to politics, focusing on methodological individual. However, there are a few pitfalls about which readers should be aware. Original article: What Is Consent?
Historical revisionism is nothing new, and recent attempts to label an “antiracist” approach to history have wrongly been called “revisionist.” To better understand revisionism, one must first be grounded in reality, then apply reality-based thought to studying the past. Original article: Historical Revisionism: What It Is and What It Is Not
Modern progressives are obsessed with collective guilt, demanding that Americans pay reparations for slavery even though it ended in the US 160 years ago. However, by employing collective guilt and collective punishment, those seeking reparations violate natural law. Original article: Slavery and Collective Guilt
The darling of America‘s political elites, Ukrainian President Volodymyr Zelensky, now touts a “Five-Point Plan” that surely will extend the war and ultimately make his country even worse off. It is time to end this farce. Original article: “Victory Plan” or Deadly Delusion? Zelensky’s Perilous Five-Point Plan
The political theorist Anthony de Jasay takes on the left‘s ideas of equality, and David Gordon is there to agree—and disagree. Jasay likens the left‘s view of equality to the Indian Rope Trick. Original article: The Indian Rope Trick
While people who “prep” for disaster (called preppers) are ridiculed by political elites and their media, their actions are perfectly rational. In this article, economist Mark Thornton explains why prepping for natural disasters makes economic sense. Original article: The Economics of Prepping
Using state power to enforce social orthodoxy is always a recipe for disaster. Radical Republican governments in the post-war South attempted to do just that, sowing seeds of hatred and discord in the process. Original article: Lessons from Reconstruction
The Fed lowers interest rates ostensibly to “stimulate” the economy. But while the Fed claims it is strengthening the economy, it actually weakens it through its easy-money policies. Original article: Does the Fed’s Lowering the Interest Rates Strengthen Economic Growth?
Tariffs don‘t just raise consumer prices. They also affect capital flows and, on numerous occasions, have triggered stock market crises. What tariffs don‘t bring is prosperity. Original article: A Brief History of Tariffs and Stock Market Crises
For nearly 30 years, the Fed has pursued an easy-money policy that has made the economy increasingly dependent upon the next round of “stimulus.” Reversing that policy will mean, at least in the short run, a stiff recession before the economy rebounds, which is a non-starter today. Original article: Markets Made of Glass—How the Fed Destroyed Economic Resilience
