Money, Banking, and the Business Cycle provides a comprehensive defense of Austrian business cycle theory (ABCT). It shows that a free market in money and banking will create the most stable banking and monetary system that is possible.
MARKETS
Reshuffling the Deck in the Mideast
The U.S. presence in the Middle East, which for years provided some control over one of the world’s most volatile regions, appears to have dissolved into chaos. By removing Saddam Hussein from power, the U.S. removed his tyrannical but stabilizing hand from the powder...
The ‘Affordable Housing’ Fraud
It is no coincidence that housing prices in coastal California began skyrocketing in the 1970s, when building bans spread like wildfire under the banner of “open space,” “saving farmland,” or whatever other slogans would impress the gullible.
The Cotton Candy Market
If you borrow then it’s not income. This is why no one in his right mind borrows to buy consumer goods. Those who try cannot sustain it for long… But what if someone else borrows?
Efficient Malpractice
Take the notion of the efficient market. What does that mean? Today, hordes of people are coming out of economics and finance majors believing an absurdity. Yes, I said absurdity. They think that, if the market is efficient, it’s impossible to beat the average...
Crony Socialism: Government Bailouts Do Not Save Jobs
Can the government simply loan failing businesses money and “save jobs?”
Wage Theft
The actual “wage thieves” are the politicians and others who impose minimum wage laws and other directives on the private sector. By impairing and ultimately destroying economic growth, politicians like Hillary Clinton are the ultimate wage thieves.
Socialist Economic Reasoning: Idiotic or Dishonest?
Many people argue that liberals, socialists and progressives do not understand basic economics. I am not totally convinced about that.
Making Good Business Decisions
A quality decision is one that leads to achievement of values.
Equality of Opportunity Versus Equality of Outcomes
Enabling all Americans to prosper and have greater opportunities is a far more achievable goal than equal outcomes.
Apple vs. the Goliath U.S. Government
It does not matter how rich Apple is, or becomes. In the end, the government can do whatever it wants, at least so long as it keeps pushing the limits outside of its Constitutional boundaries, while our courts and citizens do absolutely nothing.
The Myth of Stealing American Jobs
America doesn’t lack economic growth and jobs because China, or other countries, “steal” them. America lacks economic growth and jobs because its own government will not permit its economy to function freely and fully, as a private market economy can and should.
Errors in the “Stakeholder” Approach to Running a Business
The “stakeholder” approach is based on the mistaken premise that everyone that makes a claim on a business must be—or deserves to be—treated equally, and that the business must appease every critic.
Capitalism Does Not Breed “Tyrannical” Bosses
Tyranny—the cruel and oppressive treatment of others by those in positions of power—is not possible under capitalism.
Move Over Entrepreneurs, Make Way for Speculation!
Central bank apologists assert that zero interest will help the economy. It hasn’t yet, and it never will. However, the main concern by both Fed defenders and foes alike is the worry that prices might rise. Well, prices aren’t rising now. So the former are smug and the latter are frustrated.
They miss the real harm of zero interest.
Market Magic: The Logical Alternative to Government Bureaucracy
People have long lists of things they think the market can’t possibly do — from building subways to fighting wars. Sometimes, the market does them anyway.
No Need to Boycott Amazon.com
There is absolutely no moral reason to boycott the company.
The Struggle for Economic Liberty: Free Market Uber vs Fascist Taxi Unions
Many cities have granted monopoly power to taxi companies — the right to prevent entry by others.
Who the Heck Consumes His Capital?!
To make people eat their seed corn, we need to add the essential element: a perverse incentive. Let’s look at monetary policy in this light.
Entrepreneurs: Breaking the Bureaucracy of Rules
FedEx turned out to be much better than the U.S. Postal Service, teens ignore Hollywood and become rich and famous on YouTube, people skip hotels and find rooms via Airbnb and so on. Who knows what discoveries await if we don’t let tired old rules get in the way?
John Stuart Mill: Setting Liberals on the Road to Socialism
One of the great voices for personal liberty was that of the British economist and political philosopher, John Stuart Mill. His essay, “On Liberty,” though penned well over 150 years ago, is a classic statement that the individual should be respected in his right of...
The Economy is in Liquidation Mode
Imagine running a rink company at the end of the roller skating craze. You know it is not going to survive for long. How do you operate your business? You milk it. Well, that’s now happening across the entire economy.
Business Hero: Resolute Forest Products CEO Richard Garneau
Resolute Forest Products’s CEO Richard Garneau is a business hero.
The Nuclear Deal is Mostly about Oil
No one knows what such a Middle East will look like. But given the volatility of the region, change is unlikely to be pretty.
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