Hayek

Stimulus Is Not the Answer to Your Economic Woes

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Congress is hard at work on a stimulus bill. Doubtless their efforts will pay off. Does anyone stop to ask what it is about stimulus that stimulates? And what, exactly, does it stimulate? Start by spending a lot of money that the government does not have, borrow the difference, and the central bank prints the difference and buys up the debt. But does that increase the production of useful things? To answer this, we look at an unlikely friend, Keynes and his General Theory. The British Austrian school economist William Harold Hutt penned a devastating critique of the new economics, The...

The Cult of Keynes and Its Origins

The British Austrian economist W.H. Hutt was a great critic of Keynes’s economic theories. However, his speculations on why the New Economics revolution happened are even more fascinating. Hutt shows it to be a fundamentally dishonest undertaking. Keynes held a long-standing belief in inflation and public spending. His General Theory was the culmination of his search for an intellectual foundation on which to support his belief. Yet it was an unstable foundation. Had he stated his thesis in clear terms, it would have been seen as noncontroversial in some parts and in the rest untrue. The...

For a New Recovery: A Synopsis on the Reality of Drug Legalization and Recovery Through the Eyes of a Libertarian

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Introduction Marijuana. Xanax. LSD. 2CE/2CI. Methamphetamine. A literal galaxy of wines, liquors, and beers. MDMA. OxyContin. Cocaine. Psilocybin mushrooms. Adderall. Heroin. Crack. Klonopin. Trazodone. etc, etc, ad infinitum... To most everyone, that list represents a smorgasbord of substances that elicit a change in mood or behavior. Maybe they’re looked upon with a revered hesitancy, not quite full blown skepticism...but not really held to any serious consideration. Perhaps a twinge of uneasiness  washes over you based upon a past experience, either personally or vicariously through a...

The Border Crisis Comes Home

Immigration is claimed to be the root of a myriad of problems in the United States. It is declared to be the reason our culture will become unrecognizable. The reason our welfare system will be overloaded. The reason Democrats will take over the whole of government. The list goes on and on but these are ones most often repeated. What is immigration, though? Immigration is the act of moving one’s physical location, usually from one sovereignty to another. The other concerns are possible outcomes that may or may not result after immigration occurs. This should establish that immigration is...

Understanding the Bend of History (Or Lack Thereof)

The notion that Americans will always be free is part of the catechism that is force-fed to public school students. For hundreds of years, philosophers, politicians, and reformers have touted a law of history that assures the ultimate triumph of freedom. “Oppressed people cannot remain oppressed forever. The urge for freedom will eventually come,” Martin Luther King Jr. wrote in his famous “Letter from Birmingham Jail.” But few political follies are more hazardous than presuming that one’s liberties are forever safe. None of the arguments on why liberty is inevitable can explain why it...

A Reader’s Guide to Liberalism

After Liberalism

Has the definition of “liberal” changed over time? One of the more compelling debates in American intellectual circles concerns classical liberalism vs modern liberalism. In American parlance, the word liberal is used reflexively, often without much deep thought about its origin. It usually refers to individuals associated with the contemporary left and loosely connected to the Democratic Party. However, liberal did not always have that connotation in American politics. To understand these changes, let’s take a stroll down memory lane to learn how its meaning has evolved over time....

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

Friedrich Hayek Portrait

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...

Making Politics More Like a Free Market

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Free-market capitalism is the most successful economic system in history, as it has brought unprecedented prosperity and powered vast improvements in all aspects of human well-being. However, in spite of capitalism’s success, the application of economic ideas to politics is limited—which is very unfortunate, for many of the challenges characterizing contemporary politics could be solved if we apply the principles underlying free markets, such as free competition and dispersal of power. Making politics more like free markets would improve the quality of governance by making people’s lives...

How New York Turned Nursing Homes Into ‘Slaughter Houses’

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At an April 23 press conference, Gov. Andrew Cuomo sounded indignant when a reporter asked if anyone had objected to New York’s policy of forcing nursing homes to admit recently discharged COVID-19 patients. “They don’t have the right to object,” Cuomo answered before the reporter finished his question. “That is the rule, and that is the regulation, and they have to comply with it.” New York isn’t the only state to adopt a policy ordering long-term care facilities to admit COVID-19-infected patients discharged from hospitals. New Jersey, Massachusetts, and California—three states also hit...

We Don’t Need a Cure to Reopen

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Back on March 19th, 2020, I pointed to this piece by Pierre-Olivier Gourinchas at my blog – Coordination Problem — where he states very clearly the reality constraint in public policy deliberations in the current coronavirus crisis. Without committing one way or another on the debate over the epidemiology models being used, I thought, and still think, this way of putting it could serve as a very useful point of departure for serious conversations about trade-offs, short-run/long-run, and public policy in a liberal society. By now you have seen these graphs numerous times, but they are...

News

News Roundup 6/27/2022

US News An Afghan prisoner who was held in US custody for nearly 15 years without charge was released from the Guantanamo Bay detention center and returned to Afghanistan. [Link] Ukraine War  President Joe Biden said Sunday that the Group of Seven will ban Russian...

This Week At The Libertarian Institute

The Empire never sleeps – but neither do we. Missed a story? We got you covered. This week in review at the Libertarian Institute: News   June 24, 2022 – Senate Dems Press Biden to Investigate Killing of Palestinian-American Journalist Ahead of Israel Trip Senate...

Blog

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...

Privacy and the Constitution

"[B]oth the [']liberals['] and the conservatives misunderstand privacy. The conservatives engage in a narrow and unnatural reading of the Constitution in order to avoid seeing what they do not wish to see, while the [']liberals['] find in the Constitution not...

Week of Action on Yemen

Scott Horton and the Libertarian Party, among others, are whipping up support for a week of action to end US involvement in the Yemen War. And you can help. H.J. Res. 87 was introduced on May 31. The bill would "direct the removal of United States Armed Forces from...

The Scott Horton Show

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...

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