Austrian Economic Blogs
Adam Smith Institute
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Lenin died 95 years ago
On January 20th, 1924, Vladimir Ilyich Lenin died. After the February Revolution had overthrown the Tsar in 1917, Germany allowed Lenin and supporters to cross their country in a sealed train. Back in Russia, Lenin with his Bolsheviks overthrew the Provisional Government of Kerensky, and quickly established a Communist dictatorship. He instituted the Red Terror, in which tens of thousands of people were killed or interned in concentration...
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Venezuela Campaign: Chavez’ Cuban healthcare fiasco
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Brexit shows the perils of a planned economy
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It’s true, new technology creates mineral reserves
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Montesquieu was born 330 years ago
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The cost to society of a £5 dress is nothing
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More spin, Less in the way of truth from Public Health England
LewRockwell
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The Vice President’s Men
When George H.W. Bush arrived in Washington as vice president in January 1981 he seemed little more than a sideshow to Ronald Reagan, the one-time leading man who had been overwhelmingly elected to the greatest stage in the world. Biography after inconclusive biography would be written about Reagan’s two terms, as their authors tried to square the many gaps in his knowledge with his seemingly acute political instincts and the ease with which...
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‘Someone Will Make Money by Stoking Fears’
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Go Study the Maginot Line
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Why the Left Can’t Lead the Yellow Vests
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Silk Road: A Cautionary Tale about Online Anonymity
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Battle Royale
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Credit Card Companies Have No Business
Cato Liberty
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The New Missile-Defense Policy Won’t Make Us Safer
The following is an excerpt from an op-ed I wrote assessing the Trump administration’s 2019 Missile Defense Review (MDR) and the impact that the document’s recommendations may have on nuclear stability: The MDR is a very ambitious document. It starts with calls for more midcourse interceptors and other existing defensive systems, then urges the development of new capabilities to defeat more kinds of adversary missiles across more stages of...
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Another Hostage from the Federal Shutdown: Small Business
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Most Economists Know There’s No Free Lunch on High Marginal Tax Rates
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The FDA Bends Over Backwards To Get Drug Makers To Ask Them To Make Naloxone OTC
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The Impact of The New German Minimum Wage
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All Your Money Are Belong to Us
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What the Government Is Doing to “Solve” Its “Humanitarian Crisis” at the Border
Mauldin Letter
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Bull in the China Shop
The production of souls is more important than the production of tanks.... And therefore I raise my glass to you, writers, the engineers of the human soul. Joseph Stalin, 1932 [Our purpose is] to ensure that literature and art fit well into the whole revolutionary machine as a component part, that they operate as powerful weapons for uniting and educating the people and for attacking and destroying the enemy, and that they help the...
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Something Wicked This Way Comes
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The Year of Living Dangerously
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Bear Markets, Fed Mistakes, and Quick Shots from John
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Powell, the Third Mandate, the New Fed and Crawdads
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The Misunderstood Flattening Yield Curve
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European Threats
Max Keiser
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The West’s Descent into ‘Cultural Revolution’
A Cultural Revolution is a movement designed to preserve the political and financial power of a ruling elite by social rather than political or financial means. Thus the primary tools of a Cultural Revolution are not redistributing power via elections (politics) or financial reforms; the primary tools are public shaming and denouncements, purges of those in positions of authority, show trials, guilt-by-association, wholesale denouncements of...
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3 Reasons Gold May Embark On An Extended Rally
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A Manifesto for a ‘Deplorable’ Party
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Political Turmoil in UK & US Sees Gold Hit 2 Week High
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Greenbacks vs Gold: US Civil War and After
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Gold Holds Steady Near $1,300 As Geopolitical Risks Including Brexit Loom Large
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[GONZO-2] GONZO: Deplatforming the Mensheviks
EconLog Library
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2% inflation changes everything
One can think of the past 100 years of US history as featuring three macro regimes: 1. Commodity money, with alternating periods of rising and falling prices. 2. Unanchored fiat money, with rising and falling inflation rates. 3. 2% inflation targeting. Both transitions occurred gradually, so it’s not possible to assign precise dates, but 1940 and the early 1990s are plausible estimates. Here is the CPI inflation rate since 1913: The Fed has...
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Find the Contradiction
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A Hearty Henderson Salute to John Bogle
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Workplace Challenges
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Reflections from my Panama Cruise, II
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No exit?
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Mazzucato Missing on the Margins (Part 2)
Cafe Hayek
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Some Links
Phil Magness explains why a carbon tax will not work as advertised in reality. A slice: First, even though the economists declare that their proposal will be revenue-neutral (i.e., it is offset by other tax and fee reductions so that it extracts no additional revenue from the public), they offer no guarantee but their word that politicians would adhere to this promise as opposed to treating carbon taxes as yet another lucrative revenue stream...
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Quotation of the Day…
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Some Links
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Quotation of the Day…
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In Praise of Carbon Fuels
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Some Links
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Quotation of the Day…
Robert Murphy
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Murphy Twin Spin on Energy Topics
==> My Part 2 of my critique of the “Green New Deal.” ==> My response to the 45 economists who wrote an open letter to the Wall Street Journal calling for a carbon tax. My favorite part: Before leaving this section, let me try one last attempt to get the reader to see the sleight-of-hand that these economists are pulling here. Suppose that President Trump had his protectionist economic adviser, Peter Navarro (who has a PhD in...
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BMS ep. 12: Gene Epstein on Commies, Krugman, and Crushing Debaters
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Would Jesus Be Annoyed With Libertarian Memes?
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Problem & Solution
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Bob Murphy Show ep. 11: The Economics of Immigration and a Border Wall
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Contra Krugman Ep. 170 — Tom Uses Jedi Mind Trick on Dennis Miller
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BMS Ep. 10: This One Simple Fed Trick Earns the Bankers Billions
Bleeding Hearths Libertarians
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The Stupid House = Nation Analogy Is Back
The argument seems to be this: “Your house has walls, doesn’t it? Well, then, you must on pain of consistency hold that it’s right to put a wall around the country. If you really believed in open borders, you’d have an open door policy and let anyone come into your house whenever they want.”Even self-described libertarian websites make arguments like this.Once again, a nation is not like a house.Let’s imagine it were. The analogy would prove...
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Events in San Diego
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Podcasts on *When All Else Fails*
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Race and the Contamination of Freedom
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Anarchy in Manhattan
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Anarchy in Manhattan
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“Populism’s Dangerous Companions”
Mises Institute USA
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Why We Need Savings to Produce What We Need
Conventional wisdom says that savings is the amount of money left after monetary income was used for consumer outlays, implying that saving is synonymous with money. Hence, for a given consumer outlays an increase in money income implies more saving and thus more funding for investment. This in turn sets the platform for higher economic ...
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Gilets Jaunes: French Protesters Demand Lower Taxes and More Spending
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The Fallacy of the “Public Sector”
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57. Neither Fisher nor Bayes: The Limits of Statistical Inference
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Jeff Deist on Why Socialism Persists
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Decentralization Is the Solution to the Government Shutdown Problem
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No, Paul Krugman, This Shutdown is Not a “Big Libertarian Experiment”
Mises institute Canada
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Ludwig von Mises: Remembering a Fountainhead of Modern Libertarianism
Reprinted from Mises.org September 29 marks the birth of Ludwig von Mises, who Guido Hulsmann’s biography, Mises: The Last Knight of Liberalism, argued was the 20th century’s foremost economist. Mario Rizzo credits him with “probably the most important single economic idea of the last century: rational economic calculation is impossible under socialism, and attempts to put such a system in place will only impoverish the citizenry.” Brian...
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Luxuries into Necessities
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What to Do Until Privatization Comes?
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The Eight Marks of Fascist Policy
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Lack of Police Accountability Shows the “Social Contract” Isn’t Working
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Debt and War
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The Living Reality of Military-Economic Fascism
David Stockman’s Contra Corner
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The Pentagon’s Next Self-Licking Ice Cream Cone—-Space-Based Missile Defense Layer
The report also proves that missile defense is a self-licking ice cream cone. It uses the new Russian systems, build as reaction to new U.S. missile defense systems, to justify more U.S. missile defense: https://www.moonofalabama.org/2019/01/reagan-wannabe-trump-relaunches-reagans-star-wars.html#more
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Bubble Finance In One Picture: Every Declining Income Growth, Ever Rising Wealth!
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Tesla Hits The Skids: High Prices, Higher Costs, Slowing Demand, No Profits, Vanishing Cash
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Why We Need Savings to Produce What We Need
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Tulsi Gabbard and the Great Foreign Policy Realignment
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Will Nothing Sate John Bolton’s Lust for War?
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Strapped Consumers Hitting Their Credit Cards Hard
Peter Schiff
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Fun on Friday: Trump Grounds Nancy Pelosi
Did you hear what President Trump did to Speaker of the House Nancy Pelosi? He grounded her airplane — 40 minutes before she was supposed to take off on a big excursion.Whether you love Trump or hate him, you have to admit he’s the greatest troll to ever occupy the Oval Office.Now, a lot of people will say, “Mike, it’s not funny. It’s beneath the dignity of the office! You shouldn’t laugh at such things.”Actually, I should laugh. Because...
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To All You Scoffers: Friday Gold Wrap 01.18.19
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Tom Woods and Joseph Salerno Discuss Economist and Political Philosopher F.A. Hayek (Audio)
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Jim Grant: We Live in a Most Extraordinary Moment of Monetary Manipulation (Video)
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Peter Schiff: The Eye of the Financial Hurricane
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Troubling Signs for Uncle Sam as Demand for US Treasuries Sags
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Brits Deal With Brexit Uncertainty By Hoarding Gold
Zerohedge
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5G, Huawei, and Us – America Hates Competition
Authored by Tom Luongo, While no one, including me, doubts that the intensity of corporate espionage that goes on in the tech industry the latest news in the Trump Administration’s assault on Chinese telecom giant Huawai should dispel any doubts as to what the real issue is. The Trump administration is preparing an executive order that could significantly restrict Chinese state-owned telecom companies from operating in the U.S. over...
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Visualizing The Snowball Of Global Government Debt
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“The People” Know What They Want And Just Might Get It – Good And Hard
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Hong Kong Housing Market Enters Correction Territory
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The US Military Is Winning… No, Really, It Is!
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Extremely Disturbing Footage Of Deadly Mexico Pipeline Explosion Surfaces
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BofA Sees 3 Paths For The Market: Stairs, Escalator, Roller-Coaster
Wolf Street
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Bottom Suddenly Falls Out of Demand in China in Many Sectors
“What we witnessed in November and December was just extraordinary.” “I’ve been a manager for almost half a century, but this is the first time I’ve seen such a large single-month drop in orders for us,” said Nidec CEO Shigenobu Nagamori. “What we witnessed in November and December was just extraordinary.” Nidec, a Japanese company with $14 billion in revenues last year, makes a wide range of electric motors, from tiny devices that make the...
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Stock-Market Margin Debt Plummets Most Since Q4 2008
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Another Retail Chain Bought & Stripped Bare by Sun Capital Goes Bankrupt
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Boom Fizzles: Shipments Fall for 1st Time Since Transportation Recession
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4 Months of Carmageddon in the EU Wipe Out Gains for 2018
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Yield Curve Spaghetti
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Turkey’s Debt Crisis Deepens, Erdogan Bails out Banks His Way
Thomas Woods
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Ep. 1324 How to Nudge Non-Libertarians in the Right Direction
Download Audio
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Ep. 1323 Agorism: Anti-Politics, Anti-State, Pro-Freedom Now
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Ep. 1322 Smashing Fallacies in American Economic History
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Ep. 1321 The Progressives’ Dream — Rule by So-Called Experts — and How to Dismantle It
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Ep. 1320 “Pro-Family” Economics Makes Me Crazy
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BONUS Ep. 1319 Your New Business for 2019: What to Do and What to Avoid
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Ep. 1318 Cryptocurrency: Regulatory Hurdles, and Advances in Privacy
Carpe Diem
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Backfire economics: Trump tariffs are killing American steel – Publications – AEI
AEI Backfire economics: Trump tariffs are killing American steel 1. From the Council on Foreign Relations blog post “Trumps Tariffs Are Killing American Steel“: “Our Steel Industry is the talk of the World,” President Trump tweeted in September. “It has been given new life, and is thriving.” Yet nearly a year after Trump slapped tariffs on imported steel, the U.S. steel industry is not thriving. It is reeling. Steel prices have fallen back to...
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Markets in everything: Light bulb repair in Venezuela – Publications – AEI
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A tribute to the legendary investor and Vanguard Group founder John Bogle with some charts and quotations – Publications – AEI
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Quotation of the day from Vanguard founder John Bogle, R.I.P. – Publications – AEI
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Best line I heard today….. – Publications – AEI
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Milton Friedman on ‘fair’ versus ‘free’ – Publications – AEI
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Here’s the real truth about money in the ‘wrong’ hands – Publications – AEI
Bawerk
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Necessity is the Mother of Invention – Retirees Desperate Reach for Yield
Ben Bernanke’s creativity inspired a generation of economists and central bankers. QE, ZIRP and NIRP established a new class of economics that is mathematically sound but practically disastrous. Billions of dollars were transferred from savers to investors to boost the economy, but the wizards of quant forgot that something has to give. In this case, it was the formation of a pension crisis that threatens the golden years of millions of...
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Chinese Philosopher Kings, Losing their Yuan FX Religion?
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How to Invest in the New World Order
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Toward A New World Order, part III
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Toward a New World Order, part II
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Toward a New World Order?
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“Subtle forward guidance”: The marriage between best practice central banking and commodity markets
Keith Weiner
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Rising Interest and Prices, Report 13 Jan 2019
For years, people blamed the global financial crisis on greed. Doesn’t this make you want to scream out, “what, were people not greedy in 2007 or 1997??” Greed utterly fails to explain the phenomenon. It merely serves to reinforce a previously-held belief. Far be it from us to challenge previously-held beliefs (OK, OK, we may engage in some sacred-ox-goring from time to time), but this is not a scientific approach to explaining observed...
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Surest Way to Overthrow Capitalism, Report 6 Jan 2019
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Rising Rates Falling Assets, Report 30 Dec 2018
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Are Stocks Overvalued, Report 24 Dec 2018
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Why Do Investors Tolerate It, Report 17 Dec 2018
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The Prodigal Parent, Report 9 Dec 2018
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Inflation, Report 2 Dec 2018
Coordination Problem
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Police Services, Local Public Economics, and The Theory of Fiscal Attention
Two of my close colleagues and research partners -- Jayme Lemke and Liya Palagashvili -- have a great video out on the issue of community policing. [embedded content] We have been working on these issues of community policing, local public economics, and the theory of fiscal attention together for well over a decade. There is an old idiom that goes as follows: "He who pays the piper calls the tune." This basic idea is critical...
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Some New Books To Add to Your List This Spring
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Demsetz: Competition, Property Rights, Nirvana Economics, and Barriers to Entry
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Harold Demsetz (1930-2019) — a champion of price theory and the Economic Way of Thinking
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Logic and contingency in politics
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Holcombe’s _Political Capitalism_
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Paul Romer’s Nobel Lecture
Mercatus Center
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Flying Saucers, Failed Sock Empires, and Stadium Subsidies
Want weekend reads delivered to your inbox every Friday afternoon? Click here to sign up. Drones Are the New Flying Saucers Faine Greenwood | Slate | Tweeted by Jennifer Huddleston-Skees For years, when something unexpected was seen in the sky, people claimed it was a flying saucer. Now with fears of spying, travel obstruction, or worse, people increasingly claim these unidentified objects are drones. A Failure to Adjust Scott Lincicome | The...
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States Need New Arguments against OCC Fintech Charters
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A Snapshot of Maine Regulation in 2018
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The Recourse Rule: How Regulatory Capture Gave Rise to the Financial Crisis
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Obsolete Regulations and Regulatory Reform in Washington
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Looking Back on the Tax Cuts and Jobs Act's First Year
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New Research on the Effect of Regulation on Low-Income Households and a US-UK Trade Agreement
