In recent years, American politics has been mired in a narrative of fear and suspicion surrounding China—a narrative perpetuated by successive administrations, defined by nothing so much as speculation and hysteria, and which has fueled the production of a plethora of counterproductive protectionist policies. The latest move by the Joe Biden administration to impose steep tariffs on Chinese imports, including electric vehicle (EV) batteries, computer chips, and medical products, is just another chapter in this saga. The damaging consequences of such policies touch not only tensions with...
Conflicts of Interest, Fearmongering, and Data Control Under the Guise of National Security
In a recent article in The Washington Post, their spotlight falls on a group of tech billionaires, former government officials, and industry advisers who have orchestrated a campaign against TikTok, culminating in calls for its ban or forced sale. This concerted effort, under the guise of national security and American nationalism, raises serious concerns about conflicts of interest, fear-mongering tactics, and the true motivations behind their actions. First and foremost, the article sheds light on the alarming, if predictable, prevalence of conflicts of interest within this group. Led by...
We’ve Always Known Standing Armies Are a Threat to Liberty
Thomas Gordon's A Discourse of Standing Armies; shewing the Folly, Uselessness, and Danger of Standing Armies in Great Britain, published in 1722, is a significant piece of literature in the canon of classical liberalism, critiquing the presence and role of standing armies in the governance of states. Gordon's discourse delves into the historical context of standing armies, drawing lessons from the English Civil War and the subsequent Glorious Revolution. Here, Gordon's chief points and argument are summarized, and the significance of his discourse in the context of the British and later...
Recalling Rothbard’s Epic Destruction of Nozick
In the annals of libertarian political philosophy, Murray N. Rothbard stands as a towering figure, known for his uncompromising advocacy of anarchism and his sharp critiques of statist ideologies. One of his most notable engagements was with the work of Robert Nozick, particularly his seminal book, Anarchy, State, and Utopia. While Nozick's work aimed to provide a justification for the minimal state, Rothbard dissected and ultimately dismantled Nozick's arguments with precision and rigor. At the heart of Nozick's thesis lies the concept of the minimal state, a government that exists solely...
Embracing Deflation
In recent years, the specter of inflation has loomed large over the global economy, fueled by unprecedented monetary stimulus measures and supply chain disruptions. As prices have surged, concerns about the erosion of purchasing power and the threat of runaway inflation have dominated headlines. However, amidst this backdrop, an alternative perspective emerges—one that challenges orthodox opinion and suggests that deflation may, in fact, offer a path to economic stability and prosperity. Over the past four years, the United States has witnessed a staggering 20% increase in the general price...
Embracing Hayek’s Wisdom: The Paramountcy of Choice in Currency
In an era marked by economic uncertainty and inflation, the insights of Friedrich Hayek, the renowned Austrian economist, resonate more strongly than ever. Hayek's essay, "Choice in Currency: A Way to Stop Inflation," offers a compelling argument for the denationalization of money, advocating a system that allows individuals the freedom to choose their own currencies. This concept, rooted in Hayek's broader philosophy of spontaneous order, holds significant relevance in addressing contemporary inflationary challenges. Hayek's advocacy for choice in currency stemmed from his recognition of...
The Fed and the Fight for 2%
Last week, Jerome Powell & Co. met to issue an immediate decision regarding the status of the federal funds rate for March, and to provide some insight into the trajectory of monetary policy for the rest of 2024 and into 2025. As with the past few inflation readings, with January, February, and March showing inflation ticking up and underlying inflationary pressures remaining strong, talk continues to surround the Fed’s “level of confidence” whether the time is right to start cutting rates. That the Fed will cut rates is still taken to be a given, but Powell held off again last week,...
Biden’s Myth of ‘Price Gouging’
In recent times, accusations of "price gouging" have become prevalent, often targeting producers utilizing strategies like dynamic pricing and “shrinkflation.” Such accusations, echoed by political figures including President Joe Biden, overlook the intricate dynamics of supply and demand in a market economy. Dynamic pricing, a hallmark of modern market economies, reflects the dynamic interplay of supply and demand in real-time, ensuring the most efficient allocation of resources. For, unlike static pricing, which remains fixed regardless of changing market conditions, dynamic pricing...
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