Socialism has failed repeatedly. Wherever you look—Cuba, Venezuela, India, France—the system has caused economic turmoil, stagnation, and even violence and oppression. But fear not, we are told—that was socialism simply “not done properly.” True socialism, however,...
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...
The Federal Reserve has doubled down on its policy of devaluing your money. During a speech in Jackson Hole last week, Federal Reserve Chairman Jerome Powell announced a shift in the central bank’s inflation policy. In the past, the central bank has targeted a 2...
As the political and central banking establishment in Washington continues to bail out the economy and markets by creating trillions of unbacked pieces of paper and electronic digits, a handful of congressmen hope to shine a new spotlight on the devastating effects of...
If you want to end unconstitutional, overreaching federal power—end the Fed. It’s the engine that drives the most powerful government in the history of the world. But Congress will never abolish the central bank. It can’t even come up with the will to audit the Fed....
In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a...
The United States and much of the world may have initiated a business shutdown—resulting in tens of millions of unemployed domestically, along with all of unemployment's other negative side effects—for no statistically measurable benefit in tamping down COVID-19. (See...
On February 10 the stock markets were at all-time highs, with the Dow 30 at almost 30,000. The unemployment rate was at an all-time low and interest rates around most of the world were at all-time lows. With interest rates near zero for an entire decade, the value of...
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