May 8 marked the 124th anniversary of the birth of F. A. Hayek, the 1974 Nobel-winning economist of the Austrian school. (He died in 1992.) That makes it a good time to acknowledge one of his many contributions, his epistemic case for the free and competitive market...
Economics
TGIF: Abolish Billionaires?
by Sheldon Richman | May 5, 2023 | Economics, Featured Articles, Justice, Sheldon Richman, TGIF
Sen. Bernie Sanders wants to abolish billionaires. You read that right. He says he'd confiscate 100 percent of people's money above the $999 million mark -- as if that would cover a significant portion of the nearly $7 trillion the feds will spend in the next fiscal...
Blackrock’s Balance Sheet May Be Sicker Than You Think
by Tom Luongo | May 3, 2023 | Economics, Featured Articles
The big news this week was Tucker Carlson’s unceremonious firing by Fox News. The reasons for Tucker’s firing are still unclear. And even Tucker’s emergence from his man cave on Tuesday for two minutes did nothing to quell the speculation. What it did do was...
Debt Ceiling Drama Ignores Our Real Fiscal Crisis
by Ron Paul | May 2, 2023 | Economics, Featured Articles
Last week the House passed legislation increasing the debt ceiling. The bill was supported by all but four Republicans. For some Republicans, this was the first time they had ever voted for a debt ceiling increase. Perhaps the reason they did so this time was because...
TGIF: Free Markets and the Pursuit of Happiness
by Sheldon Richman | Apr 28, 2023 | Economics, Featured Articles, Justice, Libertarianism, Politics, Sheldon Richman, TGIF
For some time now I've thought that many people's antagonism to the market is motivated not by moral or economic objections but by aesthetic criteria. (I discuss this in What Social Animals Owe to Each Other and here.) By that I mean they simply find market relations...
If America Loses Its Reserve Currency Status, You’ll Still Be Okay
by Ryan McMaken | Apr 27, 2023 | Economics, Featured Articles
Earlier this month, Larry Kudlow insisted that it is "it's incumbent on the U.S. government, no matter who's in power, to maintain the reserve currency status of the dollar." Kudlow laments that a toppling of the dollar from that perch "seems to be the direction we're...
TGIF: Politics Corrupts Money
by Sheldon Richman | Apr 21, 2023 | Economics, Featured Articles, Justice, Libertarianism, Politics, Sheldon Richman, TGIF
Money does not corrupt politics. Politics corrupts money. Politics as we know it is inherently corrupt; it's the way to select government officials, who then use the legalized threat of physical force, and force itself, to make peaceful people do or not do things...
When the Petrodollar Dies, the Empire Dies
by Ron Paul | Apr 18, 2023 | Economics, Featured Articles, Foreign Policy
Future historians may say that the most significant event of 2023 had nothing to do with Donald Trump, other 2024 presidential candidates, or even the war in Ukraine. Instead, the event with the most long-term significance may be one that received little attention in...