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[Originally published in American Affairs, April 1948.] "Public money is like holy water. Every man helps himself." ~ Italian proverb As the hungry dollar devours its own purchasing power we may think we are going to find out what happened to the fabulous

By popular thinking, the key driver of economic growth is increases in the total demand for goods and services. It is also held that the overall output increases by a multiple of the increase in expenditure by government, consumers and

As a libertarian, I have long objected to being characterized on a left-right political spectrum (as with studies of political affiliations that group libertarians with republicans or conservatives on the right). In response to inquiries about where I fit in

[Excerpt from Murray N. Rothbard, A History of Money and Banking in the United States: The Colonial Era to World War II (Auburn, AL: Mises Institute, 2005), part 4, pp. 400–24.] By the end of 1925, Montagu Norman and the British

In his writings, the leader of the monetarist school of thinking, Milton Friedman, blamed central bank policies for causing the Great Depression of 1930s. According to Friedman, the Federal Reserve failed to pump enough reserves into the banking system to prevent

How did a handful of colonies created by the European Old Order establish a unique nation conceived in liberty? In Episode 2 of the Liberty vs. Power Podcast, Patrick Newman and Tho Bishop discuss the lasting tension between the Spirit of

The Fed may slow or eliminate new bond purchases but is not planning to sell. Meanwhile, producer prices have skyrocketed and Americans are consuming more but producing less. Get ready for entrenched price inflation. Original Article: "The Fundamentals Point to Inflation

Fauci-funded and Fauci-supported "AIDS research" consisted of running medical experiments on children, among other horrors. Through it all, Fauci profited handsomely with his many "partners" in Big Pharma. Original Article: "Review: The Real Anthony Fauci: Bill Gates, Big Pharma, and the

America’s decision to withdraw troops from Afghanistan was greeted with disdain in some quarters. But so far, most pundits have explored this debacle from the vantage point of foreign affairs by either lamenting the decline of American influence or lauding

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