How Wind Power Froze Texas

How Wind Power Froze Texas

In the wake of February’s tragic power outages in Texas, during which 4.5 million households suffered service interruptions, partisans on both sides have been quick to interpret the events as confirmation of their preferred energy policies. With news images of helicopters deicing frozen turbines, conservatives lambasted Texas’s increasing reliance on wind power as the villain in the story. Trying to temper this knee-jerk reaction, Reason.com columnist Ron Bailey argued that “[m]ost of the shortfall in electric power generation during the current cold snap is the result of natural gas and...

read more
Can Libertarians Oppose Short Selling?

Can Libertarians Oppose Short Selling?

Amid the controversy over GameStop, many cynics argued that something sinister was clearly afoot because the hedge funds had shorted 138 percent of the outstanding shares. In this article I’ll review that particular claim, as well as another seemingly dubious practice, so-called naked short selling. My conclusion is that shorting more than the total outstanding shares isn’t perverse or fraudulent, whereas naked short selling—depending on the context—might be. A Review of Short Selling Before diving into the specific variants, let me first explain the basics of short selling and why it can be...

read more
F.A. Hayek’s Conception of Private, Fiat Money

F.A. Hayek’s Conception of Private, Fiat Money

The most famous Austrian economist is 1974 Nobel laureate Friedrich Hayek. Because of his moderate views excusing state interventions in various circumstances, hardcore Rothbardians tend to regard Hayek as less than pure in many areas. However, one area where Hayek is certainly more radical (though perhaps not correct!) than even Murray Rothbard is monetary institutions, as detailed in his fascinating (1978) pamphlet The Denationalisation of Money. When it comes to the free market's handling of money, the typical Austrian argument is over fractional reserve banking (FRB). Some think FRB is...

read more
A Rebuke of ‘Modern Monetary Theory’

A Rebuke of ‘Modern Monetary Theory’

[Review of Stephanie Kelton, The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy (New York: PublicAffairs, 2020).] I’ve got good news and bad news. The good news is that Stephanie Kelton—economics professor at Stony Brook and advisor to the 2016 Bernie Sanders campaign—has written a book on modern monetary theory (MMT) that is very readable and will strike many readers as persuasive and clever. The bad news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever. To illustrate the flavor of the...

read more
The Fed’s Massive Injection of ‘Liquidity’ Also Benefits Uncle Sam

The Fed’s Massive Injection of ‘Liquidity’ Also Benefits Uncle Sam

There’s a lot to be said regarding the Fed’s surprise announcements—including its Sunday surprise of $700 billion in renewed QE and the complete elimination of all reserve requirements for banks—but here let me just focus on one element: the tendency for Fed officials and all the pundits to treat injections of “liquidity” as if they don’t count as much when distorting the economy. I’ve seen some analysts literally call the Fed’s repo operations “free” as opposed to fiscal policy, which they agree actually costs something. These distinctions are phony. The Fed’s $1.5 trillion was a “handout”...

read more
The Theory and Brief History of Money and Banking

The Theory and Brief History of Money and Banking

The ultimate purpose of this booklet is to give the reader a solid grasp of how money works in today’s world. Yet before diving into the particulars of central banks, repo markets, and LIBOR—all topics that will be covered in future chapters—we should first provide a general framework giving the basic theory or “economic logic” of money and banking. In short: why do we have money in the first place? Where does it come from, and what determines its form (livestock, metal ingots, coins, paper notes, electronic ledger entries, etc.)? What qualities make for a good money? What role do banks...

read more
“Rules of Origin” Show Why Trade Agreements Aren’t Free Trade

“Rules of Origin” Show Why Trade Agreements Aren’t Free Trade

Ludwig von Mises famously argued that people must choose between outright socialism and unfettered capitalism, because there is no coherent “middle ground” between the two. The allegedly reasonable compromise of a highly interventionist state — where the authorities retain nominal private property but issue edicts regulating how legal owners may use their property — is unstable. Mises argued that one round of interventionism invites consequences that are even worse than the original problem, leading to yet more interventionism. During the debates over Obamacare, I pointed out just how...

read more
Understanding Elizabeth Warren’s Radical Wealth Tax

Understanding Elizabeth Warren’s Radical Wealth Tax

Democratic presidential candidate Elizabeth Warren has had a long-standing call for a 2% wealth tax on any individuals with a net worth exceeding $50 million, and a 3% tax on wealth exceeding $1 billion. Yet when pressed on how to pay for her “Medicare for All” plan, Warren upped the ante to a 6% wealth tax for those fortunes exceeding $1 billion. (As I noted at the time of the announcement: If Warren doubles her wealth tax during the campaign, imagine how fast it will rise if she’s actually elected.) Naturally, many conservative and libertarian analysts recoiled from such an economically...

read more


News

UN Will Cut Food Aid for Millions of Yemenis, Again

The United Nations World Food Program (WFP) will drastically scale back its humanitarian aid to Yemen – where it provides emergency food assistance to more than 13 million people – citing funding shortfalls and soaring prices around the globe.

News Roundup 6/29/2022

Ukraine War According to a report from CNN, White House officials are losing confidence that Ukraine will be able to retake all the territory Russia has captured since it invaded on February 24 as Russian forces continue to make gains in the eastern Donbas region. AWC...

Blog

Climate Lockdowns Are Here

  In a development that has been widely broadcast for decades (to those tuned to the correct frequency), Western countries have begun implementing the next step in the government-by-emergency manual. Indeed, once the public allows government to immolate its...

Substantive Due Process

[T]he conservatives reject substantive due process, which they see as a contradiction in terms that authorizes judges to legislate. If the term sounds odd, it would be odder still to dismiss the idea. As Roger Pilon writes, “By ‘law’ [in due process of law] the...

The Antiwar Comic: The War on Bodies

How quick they switch to the current thing. For more comics, visit The Webcomic Factory. Also, check out my latest book, The Pineys: Book 9: The Witch Hunter Piney.

Ending the Yemen War

There's a Resolution in the House, HJ Res 87, a War Powers Resolution demanding an end to all support for Saudi and UAE's war in Yemen. The new Libertarian Party is working with all the great Yemen war activists to do a pressure campaign on Congress to support it....

The Libertarian Party is Beating the Drums for Peace

For the people turning 21 this fall, America has been at war their entire lives. The Global War on Terror has reached its second generation of soldiers. Defense spending and the global presence of the U.S. military and armaments continue to proliferate. The...

The Scott Horton Show

6/27/22 Dave Decamp on Ukraine, NATO and Antiwar.com

 Download Episode. Scott interviews Antiwar.com News Editor Dave Decamp about the recent developments in Eastern Europe. First, they examine Lithuania closing the easement into Russia’s Kaliningrad territory. The move is a dramatic escalation that Scott and Decamp...

6/20/22 Ramzy Baroud on Israel, Palestine and Mali

 Download Episode. Scott is joined by journalist and author Ramzy Baroud to discuss the deterioration of Israeli Politics and the war in Mali. Israel will hold its fifth election in four years after yet another failure to form a government. Baroud gives some...

Conflicts of Interest

COI #294: The NYT Reveals CIA Officers are Operating in Ukraine

On COI #294, Kyle Anzalone discusses the White House ramping up great power conflict with Russia and China.   Odysee Rumble  Donate LBRY Credits bTTEiLoteVdMbLS7YqDVSZyjEY1eMgW7CP Donate Bitcoin 36PP4kT28jjUZcL44dXDonFwrVVDHntsrk Donate Bitcoin Cash...

Don't Tread on Anyone

6 Progressive Myths About History (w/ Lawrence W. Reed)

https://youtu.be/HsXj83JNUb4 In May 1939, Treasury Secretary Henry J. Morgenthau Jr., one of Franklin Roosevelt's best friends, testified before the House Ways and Means Committee: "I say after eight years of this Administration we have just as much unemployment as...

Liberty Weekly Podcast

Proxy Wars…The Punishment Due Ep. 221

  https://youtu.be/51gBx3rE7zw In this week's episode, I take the audience on an even deeper dive into my most recent piece for the Libertarian Institute. Episode 221 of the Liberty Weekly Podcast is Brought to you by: LibertyWeekly.club Join my membership and...

National Review Senior Editor Turns Rothbardian Ep. 220

https://youtu.be/sJXF9jgj1L4 Managing Editor of the Libertarian Institute and longtime friend and guest of the show Keith Knight joins me in this week's episode to review an article by Joseph Sobran. Sobran was the Senior Editor of the National Review, but questioned...

Patrick MacFarlane on the Hrvoje Moric Show Ep. 219

https://youtu.be/yI1ND-TJR8g This week's episode is a mirror of my recent appearance on the Hrvoje Moric Show on Tnt Radio. We discuss the war in Ukraine, China, and the brave new world we are sleepwalking into. Hrvoje is the host of Geopolitics and Empire Podcast....

Empire of Death: America’s Moral Bankruptcy Ep. 218

https://youtu.be/7yZEk73JdVo In this episode, I take a deeper dive on my latest editorial up at the Libertarian Institute, share my experience at Chillderburg, introduce my new newsletter website, and thank several outlets that have started reprinting my Libertarian...

Year Zero

Nihilism w/Buck Johnson

Buck joined me to discuss Nihilism by Fr Seraphim Rose. Nihilism is an interesting critique of liberalism that walks through the stages of societal degradation. Fr Seraphim determines that the replacement of an objective truth with relative truth sends the world into...

A Deep Dive w/Monica Perez

Monica Perez joined me for an in depth conversation on culture, religion, ESG, WEF, the future, and how the 21st Century is different than the 20th Century. Monica Twitter Discord Libertarian Institute 19 Skills Pdf Autonomy Course Critical Thinking Course Donate...

Love and Fear w/Courtenay Turner

Courtenay and I talk ESG, intentional communities, motivations, elites, and the future. Courtenay Twitter Courtenay Turner Podcast Discord Libertarian Institute 19 Skills Pdf Autonomy Course Critical Thinking Course Donate Patreon...

Shadowy Figures Surrounding 9/11 w/Adam Fitzgerald

Adam Fitzgerald joined me to discuss the less talked about aspects of 9/11. We spent most of our time discussing the characters involved and around the event. We could have gone for hours on this subject, but as you will hear, I hit a wall at the 2 hour mark. Adam...

Our Books

6 libookslg
libetarian institute longsleeve shirt

Support via Amazon Smile

Pin It on Pinterest