As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.
Category:
Politics
Critics of free markets claim that the 1980s and 90s were near-pure laissez-faire when, in reality, the regulatory state only got stronger.
Murray Rothbard wrote that egalitarianism is a “revolt against nature.” Progressives claim that inequality harms society and is morally unacceptable, but in reality, it is necessary for division of labor, which enables social cooperation.
Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism.
The great free-market classical liberal William Leggett believed that Americans do not need politicians telling us on which days Americans ought to be thankful.
In replying to a previous article by Frank Shostak, Douglas French writes that if an increase in the supply of gold ultimately leads to an expansion of bank credit, that is enough to start the boom-and-bust cycles, even if there is no central bank to accelerate the process.
Bitcoin is many things to people and it certainly has developed into a valuable asset. It also has been used as a medium of exchange. But is it money? According to Austrian economics, the answer is “no.” At least not yet.
The Biden administration, and the political establishment more broadly, is scrambling to ram through policies that a majority of voters just voted against. Their actions expose that their supposed commitment to democracy is a lie.
The Biden administration, and the political establishment more broadly, is scrambling to ram through policies that a majority of voters just voted against. Their actions expose that their supposed commitment to democracy is a lie.
The U.S. has long supported “moderate” terrorists in Syria in the US’s efforts to destabilize the country. The damage is already done, and chaos awaits Syria.